My son has his insurance and I have mine but we need to share a truck.

My truck is an 84 and has nothing but liability.

If I add him to my truck I have to add another driver but if he adds the truck to his policy then he is only adding another vehicle to his policy.

We haven't even priced it yet but if it were cheaper to have him add my truck (again just liability) to his policy and I keep mine as is we would both be covered for liability by our own policies when either of us drive it. We couldn't cheat the insurance company since there is no financial incentive for fraud.

Sounds simple but probably not allowed or is it??

Who owns the truck?

I would think the owner should insure it, owner would loan it to other user who would be considered a loanee and still insured under owner's policy.

Might depend on the loanee having insurance on a different vehicle.

I have a lengthy list of relevant questions...here are a few

- who owns the truck, as in whose name is on the title?
- where is the truck garaged/kept?
- what is the reason you need to share the truck?
- what is the truck used for?
- where does your son live?

^^^ There's the man to answer the OP - I'm no longer too current with that info.
I recall "the insurance follows the car", but that was many years ago, in a simpler time.

Two people insuring the same vehicle would be ridiculous !!

Multiple people can insure you.. You, your spouse, your kids and someone from Nigeria.

But. I still have a problem with a full whack premium if I (repeat I) have multiple cars on my policy that only I (repeat I) drive.

You can exclude the other people in your household from the policy. That will reduce your premium.

The assumption is: if you can afford multiple vehicles, you can afford the insurance.. Hypothetically you could make the same argument about license plates !!

That's not the reason.

Yes, I learned recently, that I can either exclude my son from my policy in it's entirety or not exclude him. Those are my two choices. Since he drive's a car in my name while away at college excluding him is not an option.

I was thinking to buy a Jaguar XJL Supersport but the monthly premium with a 19 yo male on the policy was more than I wanted to spend.

Correct. If they are a household resident (or a full-time student who would otherwise normally be living with you), you either list them, or exclude them.

That's makes perfect sense, however I have had Companies in the past say iIcan't exclude them since they have essentially unfettered access to the vehicles, so the companies incurs the risk, no matter who is driving.

The truck is mine paid for and in my name. It's an 84 that is not pretty and only needs liability.
It is kept at my house where I live.
My son also lives here and there are times he needs to haul stuff or I need him to help me haul stuff.
It's a personal truck that is mostly used to get back and forth to work but we often do stuff that needs a truck.
My son lives with me.

In TN they passed a law that if somebody lives in the same house they must be listed on the policy to be covered. ( Or something like that)
When we found out about this, he quit driving it. We both have insurance but with different companies.

I am not sure if it cheaper to add him to my policy or add the truck to his policy to cover it when he is driving it. I haven't checked yet.
I'm just bouncing things around to see if I can save money and most importantly follow the rules.

Currently I am excluded from his car policy but he is neither included or excluded on my policy. We found out about the law when his company figured out he lives at home with me and told him to include me (more $$) or exclude me.

Thank you all for the responses.

Short answer, the easiest thing to do to ensure you're covered is for you and your son to have the same insurance policy. Split up paying for it however you choose to do so, but if you're both on the same policy and all of the vehicles are listed, you can be sure that you are covered for anything that might happen. If you do that, you don't have to worry about adding you to his policy, him to yours, who owns what, etc. 1 policy, both of you listed on the policy, all of your vehicles listed is a foolproof solution.

If that's not an option, adding him to your existing policy, even if he keeps his only policy on his own vehicle, is the next best solution (though potentially a bit wasteful compared to the first option).

If you leave things as-is, you run the risk of having coverage denied under either of your policies should your son drive the truck and have an accident. The reason for that is he is a resident relative, and needs to be added or excluded on your policy. If he drives your truck and has an accident, your insurer may be able to deny coverage because he's a resident relative and is not listed, even if you gave him permission to use the truck. If he drives your truck and has an accident, his insurer may be able to deny coverage because that truck is owned by a resident relative and is available for his regular and frequent use. I can't say either of these scenarios is a certainty without reading your respective policies, but both scenarios are quite possible, even likely.

GENERAL STATEMENT, NOT DIRECTED AT OP: The list of coverage exclusions for auto insurance is fairly short, and the exclusions are very specific. It is not worth trying to save a few bucks at the risk of not being covered when something happens. We had some moron here reply to another insurance thread about using their vehicle commercially while only having a personal policy because it was cheaper to not have commercial insurance. This dolt said something to the effect of "How will they ever know?" It's much easier to determine things like that than most people realize, and paying for insurance that you know might not cover you is beyond stupid. But then again, lots of people are stupid.

Thanks everyone, especially Not A Charger.

I am going to check on adding him to my policy. Hopefully it will be affordable.