How To Put Car Insurance in your Parent's Name

If you are young and you need your car to be insured, your usual problem is the cost of the premium. Especially if you're under 20, you will end up paying a lot of money for the insurance since it is common that people at this age are prone to a lot of risks while on the road. However, there is a way for you to pay lower for your car insurance. This is through getting the insurance under the name of your parents. Find out how you can do this and save a lot of cash in the long run:

  • Talk to your parents about the insurance. Older people pay lower premium to car insurance because they are more careful on the road. Hence, talk to your parents about getting your insurance under their name. Let your parents call their current insurance company and ask for a quote for an additional member in the existing policy.
  • Get quotes from other car insurance providers. Shop around for better insurance rates for your parents and the additional member. Call other companies to check if you can get a lower and better rate than what the current company is offering. Most of the time, if your parents can save on their insurance if they switch to another company, this is a good choice.
  • Get quotes for yourself for the car insurance. Try calling insurance companies and see how much you have to pay if it is registered under your name. Most of the time, you will see a big difference in the rates. Knowing this for yourself can help you decide fully whether it is a good idea or not to put the car insurance under the name of your parents.
  • Register your car insurance on your parent's name. Once you have picked the right company to offer you the insurance coverage, register your car to the insurance plan. Follow the necessary instructions as provided by the company. Submit necessary requirements and wait for the approval of your application.
  • Check out the legality of this option from the insurance company of your choice. Most of the time, this act is considered as an insurance fraud. This is because most parents declare their child as secondary driver of the car when in fact he is the primary driver. If the insurance company discovers this, it will not be paying out the insurance. Hence, it is best to check this option first with the company to ensure that you can be properly covered under your parent's insurance policy. This is very much important because the amount of money you save when doing this is not worth the loss you will get when you are not properly covered. Even if you pay for it monthly, your money can be wasted if this option turns out to be a fraud in the eyes of your insurance company.

It is true that registering your car insurance under the name of your parents is a good option to help you save money on your insurance. The process is in fact very easy to do. However, take note that this option is not legal in all cases. Hence, be very wise about doing this for your car insurance. Do not make the mistake of saving a lot of cash and not getting proper coverage in the end.


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