Auto Insurance Question...?

Question

I bought a BMW with my girlfriend. We are both on the loan for the vehicle. I was wondering if since I have a bad driving record if we could only insure it under her name. We are both registered owners. Am I able to get full insurance under her name and I get Non-Owner Insurance? What if I were to have her fully insure it but then I get another insurance policy out on the vehicle with liability only?

Answer 1

You do know something about insurance or you have a good agent.

You can be excluded from her policy so her company will not cover you if you drive.   You can get your own separate policy for just liability and that's fine. It's not a non-owned policy, just a named owned policy since you own the car.   That's fine.

Only one problem, is your policy will not cover you if you crash the car since it will be liability only.   But if you want to do that neither company will have a problem with it.   It's not the best situation but it is legal and doable.

Licensed Insurance Agent who has done that for my customers.

Answer 2

If you do anything that does not include listing both of you as primary drivers on the insurance policy and file a claim against the policy while you were driving the insurance company has every right to deny paying the claim as you would have committed fraud to save on the premiums.

I recommend you and your girlfriend go sit down with your agent and take their recommendation for coverage.  

Answer 3

All registered owners have to be rated on the policy or be excluded.

Non-owners policy won't cover you since you own the car.

Answer 4

For automobile insurance the quick way to get a low quote is do a rate comparison on auto policies. Make sure that you choose similar options with the same deductibles, car model, location, etc so that all things are a good comparison.



What I most often recommend is an internet comparison quote at http://www.InsureAutoNow.info since they have big name insurers and can give several prices on car insurance polices.