Insurance Question

[MWAKU]

OK, so i need to insure an evo8, but i bought the car with my name under the transfer slips, but insurance costs about 3k for justcars and nrma and what not. so i want to put it under my dads name, but would they see that the cars under my name not my dads, and be sus that im not listed as a driver?

how do i get around this, before i hand in the transfer slips, do i write like a letter or something to transfer it into my dads name instead?

[Fredoops]

join ownership of the car.

Car under both you and ur dad's name\
and insurance only under your dad's name

[Zilli]

if you get into an accident, particularly a large one resulting in a total loss the insurance company will more often than not investigate... and when they see that you've insured it under your dads name they will ask questions

the reality is if you insure it under your dads name they will ask if you are a driver, and if so how often you drive it... under duty of disclosure you need to tell the truth...

so it's all a big risk...

[hondapop]

If you're under 25 and not shown as a driver, I think any insurance co would void the cover if you were involved in an accident anyway.

[trism]

if you cant afford the running costs, you shouldnt own it.

[dougie_504]

How often are you going to drive it?

I recommend speaking to Shannons about one of their 'limited use' policies.


When I bought my EF8 my best full-comp quote was about $2500, but Shannons insured it for me for about $1000 on the premise that I only drive it a few times a month, which for me is perfect because it only gets a thrashing once a week since I have a DD.

[blabla]

if you get into an accident, particularly a large one resulting in a total loss the insurance company will more often than not investigate... and when they see that you've insured it under your dads name they will ask questions

the reality is if you insure it under your dads name they will ask if you are a driver, and if so how often you drive it... under duty of disclosure you need to tell the truth...

so it's all a big risk...

Just before we proceed I need to confirm that you have herd and understood your duty of disclosure as read to you on the recording...... Too good.

[blabla]

AI insurance and Famous are some other ones that insure performance vehicles... With Famous the car needs to be worth more then 10k.

[Fredoops]

if you get into an accident, particularly a large one resulting in a total loss the insurance company will more often than not investigate... and when they see that you've insured it under your dads name they will ask questions

the reality is if you insure it under your dads name they will ask if you are a driver, and if so how often you drive it... under duty of disclosure you need to tell the truth...

so it's all a big risk...

Thas why you have it as joint ownership at the RTA, that'll shut them up.

Anyone can take out an insurance policy on any thing as long as they have an "insurable interest". I've seen many many cases husbands car insured under wife's name even though the car is owned by the other partner. No insurer's gonna pick on that, they got better things I worry about.

The insurer can't deny a claim just because the names don't match, it's almost impossible to prove to a court of law that 2 people within the same family has no insurable interest to one and another. In the even of total loss the insurance company will only pay the policy holder however.

If you Are really paranoid, have the car registered in both names, and have insurance under your dads name and list you as an additional driver

[ducbui91]

How do you register it in both names?
Cheers
p.s whend u get an evo mikey

[blabla]

If you have your dad as on of the policy holders it will affect his claims history!

[Fredoops]

If you have your dad as on of the policy holders it will affect his claims history!

It would if an accident occurs.

But then he'd most likely already be on rating one for life...

[blabla]

It would if an accident occurs.

But then he'd most likely already be on rating one for life...


No claim bonus is just bull****! Its doesnt protect you its sales ploy.. Tell me why each year your policy goes up EVEN THOUGH you have rating 1 for life.

[Fredoops]

How do you register it in both names?
Cheers
p.s whend u get an evo mikey

You just write two names on the form..


Edit!
Just found out you can't have joint ownership in NSW with RTA...lolwtf is with NSW, bureaucratic bullcrap...

Either way since govt doesn't allow joint registrant, there's even LESS reason for the insurance company to ask questions about names on policies.

[markismaximus]

if you cant afford the running costs, you shouldnt own it.

+1. if you can't afford insurance you can't afford the car


No claim bonus is just bull****! Its doesnt protect you its sales ploy.. Tell me why each year your policy goes up EVEN THOUGH you have rating 1 for life.

obviously up to the individual but my insurance (for all the cars I've owned) has always gone down over the years of ownership.

[MWAKU]

i can afford the insurance, but if i can get it cheaper why not? yes more risk, but if i can save a grand why not.

nah duc dont have an evo, just hypothetical question bra hahah ;)

[Lazarus]

Cheapest option MIGHT be to transfer ownership to your dad then get insurance on his name as owner and your name as driver...like most people do...

or..be like a BAUSSSS and just do it all on your name.

[flipfire]

Putting it under your dads name and not declaring yourself as a driver might not be a good idea. Insurance companies will want to know who was involved and who caused the crash in their reports.

You might get away with it, but why risk it.

[Fredoops]

Putting it under your dads name and not declaring yourself as a driver might not be a good idea. Insurance companies will want to know who was involved and who caused the crash in their reports.

You might get away with it, but why risk it.

If he wasn't listed as an additional driver then chances are the insurer won't covet him.

Because most insurers will require you to have a "listed driver" policy for most high performance vehicles.

[trism]

nah duc dont have an evo, just hypothetical question bra hahah ;)


if you dont have an evo, why you selling one then???

http://forum.jdmstyletuning.com/showthread.php?40921-NSW-Red-Mitsubishi-Evolution-VIII-%288%29

[MWAKU]

LOL~ wow would you look at that i do have one dammmm musta forgot

tbh only real reason to get insurance was to protect if the car got stolen, rather then crashed

[trism]

so get third party fire and theft.

[MWAKU]

i was reading up on that, says something about only covering up to 10k? does that mean if the car gets crashed or stolen, they will only cover up to 10k?

[jdm18c]

Yea man that option you only get 10k so better with full comp.. Nrma cover any driver but obviously bigger excess

[blabla]

If he wasn't listed as an additional driver then chances are the insurer won't covet him.

Because most insurers will require you to have a "listed driver" policy for most high performance vehicles.

Yes this is correct.

[blabla]

+1. if you can't afford insurance you can't afford the car



obviously up to the individual but my insurance (for all the cars I've owned) has always gone down over the years of ownership.

In somecases it goes down but in most it goes up.

[markismaximus]

Guess that sucks for those people then. All I know is my insurance has always gotten cheaper over the years. Which makes sense if you aren't claiming and the value of the car is depreciating

[ducbui91]

what can u claim btw?

[MWAKU]

Isn't claiming in reference to when something occurs that requires you're insurance company to make a pay-out to you to cover costs of whats damaged/stolen and what not.