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If you are the owner of a car can your parents insure it and put you as secondary driver to save money?


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2015-07-16 18:26:50
2015-07-16 18:26:50

Yes, they can. It might vary by state and insurance company, but if your parents insure it, and put you as a secondary driver, and one of them as a primary, it is legal. The problem is usually the insurance company will charge the premium based on the highest step (or highest risk) driver on the policy. If that includes you, then it might cost the same, or very close to the same, as if you insured it yourself. I would say check with your insurance company and find out.

Actually I completely disagree. What you are asking is if it's ok to commit insurance fraud and it is not ok to do this. Every time someone cheats on their insurance premium it raises the rates for others. Shame! There is nothing wrong with shopping around for the best premium but don't lie about the usage of a vehicle.

They are not committing fraud they are listing him as a driver!!!!

Assuming that this a youthful driver there is usually more than one classification for a driver. Principal and Occasional and each have different premiums. If you are trying to hide how much usage a vehicle will get by a youthful driver that is insurance fraud. If this is a case of an older adult who wants to save money by adding their car to the parents policy then it is up to the rules of the insurance company as to whether or not a particular vehicle can be on a policy. Any time anyone lies or provides inaccurate information for the purpose of getting a lower insurance premium that is insurance fraud.

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There are companies who will insure you (high risk) but I suggest that you have a VERY good job to pay the premiums being a young, new, and untrained driver! Get your driver training certificate and you will save money. Just start calling Brokerages to find out what company will take you. Now is the car you are trying to insure your parents own? In that case, unless they ok it, you can not be covered.

The government recently increased the amount it will insure to 250000 when in a bank account.

You insure a vehicle. The buyer. The only thing the cosigner is responsible for is paying the bank back the money it loaned if the buyer doesn't. The principal driver of the vehicle who should also be the buyer.

Sure most companies will be happy to take your money. in most states, you are covered under the drivers policy. If you still live with parents, you can add yourself as a secondary driver with a jump to full coverage after you get your license. check with your state laws and chosen ins co.

The purpose of the FDIC was to insure money of Americans that deposited their money.

My getting a good job and making money.

Money for what? You inherit your adoptive parents not your birth parents.

Primary drives are hunger and thirst. Secondary drives might be money

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The money is to cover the expenses for the child but it's the foster parents that manage the money.

Your parents have no legal obligation to give you pocket money.

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Ensure means -- to make sure or certain. Take this money I want to ensure you have enough for the trip. Insure means -- to guarantee against loss or harm. I would like to insure my car against fire or theft. So it depends on the context which one you will use

What do they insure and how much? Normally I would say save your money

if you have enough money to buy and insure it , yes.

You don't have to but you probably should. You can save a lot of money

his parents stole lots of money and he inherated it his parents stole lots of money and he inherated it

Sorry but you can't. Since you have to have a licensed driver in the passenger seat when you drive, you are under that person's insurance (most likely your parents). I have never heard of an auto insurance company giving insurance to a non-licensed driver (but I'm sure they would make some more money that way!). WHEN you get your license and can show proof of you driver's license ID number (or it's on record) THEN they will give you auto insurance. You're parents can actually put you on as an "occasional driver" on their insurance. Granted, if you are under 25 and male (or just under 25), they'll be forking over some serious cash to have you on their insurance. If you wreck, their insurance will go through the roof, or worse, they'll be dropped.

A taxi driver drives people to places and gets money its pretty straight forward

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A beginner NASCAR driver does not usually make much money. The driver might sometimes drive without making any money. At other times the driver may make a few thousand, As drivers gain experience and become well known, they make more money.

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