Can a car leased under my name be insured under my parents' policy??

Question

I called my insurance company to make a change of address, and my premium DOUBLED!! Apparently I moved into a high risk area of accidents. Which blows my mind because it's in the middle of suburbia. I'm hoping I can be on my parents policy even though the lease is under my name. Does anyone know??

Answer 1

I'm not an expert on this, but I would suggest you take a tour here,there are expert's tips over there.http://car-insurance.easyideas4u.info/ca...

Answer 2

No you can't because your parents have no insurable interest, the lease is not in their name.  If you have an accident, coverage can be denied.  Also, you will still be rated to where you live, not at your parent's address.  You have to state your residence on your policy.

This will also not be acceptable to the leasing company because they will require that the insurance & the lease are in the same name.  If it is not, they will force place coverage (which will ONLY protect THEM, NOT you) at an even higher rate than what your are paying now & add it to your monthly payment.

Best thing for you to do is to shop around for another insurer.  See if they also provide renters (or homeowners or condo) insurance because many companies will give a multipolicy credit - so you could possibly get 2 policies for the same or less than just the auto policy.