We recently got my daughter her own insurance policy with Progressive but it was only for what Florida law requires-PIP/Liability at 25/50/25. We got it for several reasons. 1) It was not too bad price wise, 2) my younger son will be driving soon, so that was another reason to get her off our policy, as our rates will go up, and 3) the biggest reason, even though my daughter is a great driver and responsible person,heaven forbid she hurts anyone or worse past our insured amounts, our life savings and more could/would be gone, (I am sure after a civil trial). I don't like to think of it that way but it is a real possibility in this day and age. We gave her one car we own and had it placed/titled into her name only and she is only insured for that vehicle. Now it is only my wife and I on our policy.

This is a bit of a thread drift but it responds to a question above which I hear often and which is really important.

[Note: The information below is based on Florida law, which I know. That said, Florida law is very similar to many other states so this is worth looking into wherever you may live.]

A motor vehicle is considered a "dangerous instrument" under Florida law. Two parties are liable when a vehicle is involved in a crash: the driver and the owner. That is true whether or not the owner is in the car (but not if the car was stolen, don't worry). For that reason a car should be titled in the name of the primary driver and no one else. Spouses should not jointly own a car and, to the maximum extent possible, they should not drive each other's car (this subjects them both to liability and therefore puts joint assets at risk). Adult children should have their cars titled in their names unless there is a very good reason not to.

We moved each of the kids to their own policies as they left the nest.

Them being responsible hasn't got a lot to do with it. It may have been less expensive for them to stay on our policy, but so would staying at home.

Gotta fly some time.

We had a similar situation last year, our 22 year old son moved out of state, I thought it was the best time to separate him from our insurance & get him on his own. (He owned his own car outright)

Primarily out of concern for a claim not being accepted since we were in different states, but also to let him learn first-hand the economic realities.

Absolutely if she is out of the house and 400 miles away. At 400 miles away, Geico might not even cover it IF SHTF, because they ask where the vehicle is parked at for their policy and if you state 400 miles away from where it really is, it "could" be a problem.

At 23 it's time for her to take over things like insurance and the like. I'd shop around for different carriers too for her. Geico has always tended to be high IMO. But at 23, I would title the vehicle in her name, and her insurance policy if she is 400 miles away.

Thanks for all the responses. The vehicle was in my name as it was financed and I had to sign for the loan. I just recently paid it off so I can now title it only in her name. I knew I had liability up to this point as I was the legal owner, so it did not really pay to have her on her own policy until now. Also as she is a full time student, even though she did not currently live at home Geico still considered her part of my family so keeping her on our policy was not a problem. I will transfer the title to her next week. Unfortunately Florida has an "impact fee" for any new tags of $250.00 (I believe) on top of title transfer and registration fee, so that sucks. I will be getting her her own policy both for the liability reasons and the "parental" and "adult learning" reasons others have brought up.
Thanks again for everybody's insight.
As far as shopping around I definitely will be doing more of that this week before getting the new policies. I was with Progressive for over 15 years up until last year with my rates staying pretty level and getting great service. Last year they all of a sudden raised my rates like 30% so I jumped ship to Geico. Geico gave a great rate for the first 6 month policy and again for the second 6 month policy but this newest renewal rate was ridiculous. I will continue to shop around but so far Esurance (which is part of Allstate) gave me the best rates for both me (and my wife) and my daughter. South Florida has some of the worst car insurance rates in the country. Being a LEO I know why-Every other car I stop seems to be driving without insurance and nobody down here knows how to drive..but that's a rant for another day

I'm a big fan of separating both insurance and title. If it costs her a little more and that makes you sad, give her the money but get her off your policy and your name off the car no matter how sweet and good she's been up through today.

My daughter bought a car. She’s 17. It’s in her name. She’s on her mom’s policy. We called our agent and asked what it would cost for her to be on her own when she turned 18. We were told $11k for the year from Travelers (my company)!! She has one at fault accident.

Ouch. To add her to mine would be $1700 extra for six months. To stay on her mom’s (progressive) would be $1200 extra for a year. Yep. She’s staying on her mom’s