Car insurance question
For personal reasons, I am taking my 21 year old's car away for about a year. Because he has to work and go to college, I am considering letting him use "old betsy- our junker truck"
Here is the situation and questions
1. He has his own insurance which is very expensive(about 2500K a year with collision)
2. He is not on my insurance policy
Can I drop insurance on his car because we are taking it off the road- even though we owe a balance to the bank?
Since he isn't on mine what happens if he gets in an accident or am I better off just adding the junker to his and switchng the title to him. i would love to drop his insurance, and switch everything with the truck over to him. I am not going to see his car- just waiting until he matures more to let him have it back