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 Posted: Tue Dec 16, 2008 1:33 am Post subject: insurance |
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| Kinda curious about this one...........why did you put YOUR name on HIS car? Is the Insurance AND Title in your name, too. Do you have your 'OWN' car? I'm trying to put anyone down here, I'm just saying there has to be a reason why he can't do this himself.......put insurance in his name, etc. I'm just saying this from an 'outsiders' point of view. |
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sdchargersfan
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| Posted: Tue Dec 16, 2008 1:14 pm Post subject: |
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| Well i guess he can get his own insurance...hes had a car before but this car is being financed and my credit was way better than his and it was cheaper for us this way(by putting it in my name) thats why we did it this way...We just thought because the car is financed and everything else is in my name...that the insurance would have to be in my name as well....is that not true? i have no idea..... |
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king
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| Posted: Tue Dec 16, 2008 9:34 pm Post subject: insurance |
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| I'm not sure about that question. I DO know in the state of PA, I know some people whose vehicle is in THEIR name. However.....the insurance is in SOMEONE ELSE'S name. (IE...my neighbor has her car in HER name. But, the Insurance, TO the car, is in her mom's name.) |
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sdchargersfan
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| Posted: Tue Dec 16, 2008 9:45 pm Post subject: |
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| Wow is this even legal? I would think the owner of the car would have to get the insurance in their name and add on the pther person as a driver. Maybe Lori will come on this post and answer this. I can not figure out why an insurance company would want to insure a car that is not owner by the person paying the insurance. |
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fireyone
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| Posted: Wed Dec 17, 2008 1:01 am Post subject: |
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| Quote: | | Wow is this even legal? I would think the owner of the car would have to get the insurance in their name and add on the pther person as a driver. |
This would be probably the best way to do it, and yes, it's legal...not very well advised but legal...would be the same if your mom or grandpa bought a car and paid for it themselves but gave it to you to drive..
King, you need to insure the car with you as the owner, and both of you as drivers....
You've gotten all the unwanted advise I'm sure you care to, but they don't call me 'mama lori' (in my real life) for nuthin'...
I just hope that this young man knows what you have done, and appreciates it, and does not take advantage of you...as it stands now he could drive off with that car leaving you with the debt, and you'd be hard pressed to find him..not saying he would...but he could...i truly hope he is the prince charming you say he is...i tend to worry and although you say he is very responsible, and maybe that is a new developement, but at some time in his young life he has not been or his credit wouldn't be bad...ok, that's enough...hope you didn't take offense...
let us know if you have any other questions we'll be glad you help if we can.
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"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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| Posted: Wed Dec 17, 2008 1:32 am Post subject: |
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| thank u for your help! appreciate it. oh one last thing...are you saying i should put him down as driver or should i wait till we are residing together and what would be the difference? obviously, the premium..haha...but insurance wise...? we are not sure about insurance and just trying to find out.... |
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king
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| Posted: Wed Dec 17, 2008 2:34 am Post subject: insurance |
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| Well..if he drives your car 'regularly' now ( you said something about residing with each other now?), i would 'add' him to the insurance. Unless I DID miss it, I'm STILL wondering why he can't get insurance in HIS name. |
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sdchargersfan
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| Posted: Wed Dec 17, 2008 3:06 am Post subject: |
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| I guess it is really your choice who you put on your policy. You are the one who will face the consequences if something goes wrong. The only advise I would give is to make sure that you have enough insurance in place in case something does happen and that you maintain the control over it so that you can make changes if you want to or need to. |
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goodnatured
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| Posted: Wed Dec 17, 2008 3:11 am Post subject: insurance |
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| That was 'simply put', GN. I believe ( as I'm reading all of the thread..) that the driver KNOWS the consequences if something DOES happen. |
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sdchargersfan
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| Posted: Wed Dec 17, 2008 8:35 am Post subject: |
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| Quote: | | are you saying i should put him down as driver or should i wait till we are residing together and what would be the difference? |
King, you can add your boyfriend in the auto policy if you want to. Some insurer, however, may not require the policy holder to include a driver not residing in the same household. As the other posters have mentioned adding him to the policy would cost you in terms of higher premium, but not adding him may not put you in a trouble since he'll be a permissive driver and, therefore, will be covered.
When he'll move in the same household you may add him to the policy, since the insurer will require you to do so.
Hope it helps.
~jeremy |
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JeremyHolter
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| Posted: Wed Dec 17, 2008 11:51 am Post subject: |
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Here's the thing King on this...when I thought you only had one car, and he was driving it on and off...i'd say just leave him off till he moves in...HOWEVER, in truth it's his car...and he will have it with him in his state of residence, your application for insurance will ask you if anyone else drives the car...it will also ask about other vehicles etc..you might get away with leaving him off till you move in together...
But consider this, a year from now prince charming (and i mean that) makes a mistake and rearends someone...5 or so thousand in damages and a small (few thousand ) injury claims in the other car. I'm an adjuster looking at this claim filed by a nice young girl in her early twentys (i'm guessing) and she like all young people starting out, lives in an apt. pretty much pay check to pay check...BUT she has two cars, and two car payments? Neither one is a collector car, or given to her..(hense the two payments)...and she cannot drive both at the same time...hmmmmmmmm...they said in their statements he just drove the car once in a great while, hmmmmmmthis isn't adding up...so I (as the adjuster) pull the application for ins...it says no other drivers, no one else in the household, but this vehicle has been in an accident in another state with her boyfriend driving...hmmmmm, and when i take his recorded statement he doesn't even own a car...hmmmmm, but his work is miles from his home....wonder how he gets to work every day hmmmm...so i send it to SIU (special investigation unit)...they easily prove this young man has had this vehicle 24/7 since it was purchased (believe me that's easy, neighbors, people he works with, family etc)...
OK now we have ''material misrep'' and when we have that we void the policy send you back your premium and you are both on your own as far as any claim ... you pay it all out of your own pocket including any damage to someone elses vehicle or body..and your own vehicle (and injury) as well. You could also get an insurance fraud charge filed against both of you, because not only did you lie on the application for ins but you have both lied to the adjuster investigating the claim....
so honey, you decide is it worth the risk? I don't think it is...let him pay the additional premium that his age, driving, and credit record cause (how is his driving record?)...and then you don't have to worry about it....or figure i'm an old mama and nana that worries too much...and don't do it...just remember that you were warned what could 'easily' happen....let us know honey and if you have any other questions.
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"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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| Posted: Wed Dec 17, 2008 12:04 pm Post subject: |
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| Leave it to Lori to really spell it out...around here thats very appreciated. Sounds like really good avdvise that I would take. Remember she is looking at this from the adjusters view and thats about the best view you can get. I wouldn't want to take the chance of losing my own insurance..thats a mighty big risk. |
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fireyone
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| Posted: Wed Dec 17, 2008 1:02 pm Post subject: |
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| thank you very much! i gotcha what to do! but just so you know, Im 36 and my car ispaid off in full! just wanted to say that...but i know what i should do now...thank you!! |
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king
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| Posted: Wed Dec 17, 2008 1:14 pm Post subject: |
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| Quote: | | but just so you know, Im 36 and my car ispaid off in full! just wanted to say that |
Sorry King my 'radar' was way off there wasn't it...   glad you understand it all... and frankly i feel much better knowing you are a more "mature" woman...let us know if we can be of any further assistance...
_________________
"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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| Posted: Wed Dec 17, 2008 2:35 pm Post subject: insurance |
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| I don't think I could get as 'detailed' as LORI can..LOL I'm glad the OP received alot of 'different replies, so, she can make a decision herself. |
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sdchargersfan
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