insurance questions
31-May-2004, 03:50 PM
#1
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insurance questions
first, i got a speedin ticket but i fought it n had no demerit points takin away. would the insurance company know about it?
second, for the past 4 yrs im on insurance on n off because my insurance company is too ****ed up, so im applyin for new insurance from a differnt compnay, when they ask how many yrs ive been driving, should i put 4 yrs?
and finally, if my parents has the car insured, can i still drive it eventhough im not on it?
second, for the past 4 yrs im on insurance on n off because my insurance company is too ****ed up, so im applyin for new insurance from a differnt compnay, when they ask how many yrs ive been driving, should i put 4 yrs?
and finally, if my parents has the car insured, can i still drive it eventhough im not on it?
31-May-2004, 05:06 PM
#2
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If you were found not guilty of the speeding ticket then it never happened so the insurance company won't find out. If it was reduced to a non-points offence then they can find out but since you have been driving for a while they will probably let you away with it as long as you only have the one. Two might be OK too, depending on how nice your company is.
As for the question of years driving, I would suggest calling up an insurance company, not necessarily the one you're planning on going with and asking them. Theres probably too much info that is none of anyones business involved in you fully explaining your circumstances in this forum so I'd just ask an insurance agent.
Insurance is assigned to people, not cars, in Ontario. You need your own insurance policy which has your name on it to drive as an insured driver, i.e. legally. If you have your own insurance policy then you can drive your parents car occasionally even though its not on your policy. If the car which your parents have insured is the one you plan on driving then I would think that with your 4 or less years of driving the cheapest insurance would be under your parents policy but if you have a car all to yourself then shop around.
As for the question of years driving, I would suggest calling up an insurance company, not necessarily the one you're planning on going with and asking them. Theres probably too much info that is none of anyones business involved in you fully explaining your circumstances in this forum so I'd just ask an insurance agent.
Insurance is assigned to people, not cars, in Ontario. You need your own insurance policy which has your name on it to drive as an insured driver, i.e. legally. If you have your own insurance policy then you can drive your parents car occasionally even though its not on your policy. If the car which your parents have insured is the one you plan on driving then I would think that with your 4 or less years of driving the cheapest insurance would be under your parents policy but if you have a car all to yourself then shop around.
31-May-2004, 06:03 PM
#3
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Originally posted by kane2k
If you were found not guilty of the speeding ticket then it never happened so the insurance company won't find out. If it was reduced to a non-points offence then they can find out but since you have been driving for a while they will probably let you away with it as long as you only have the one. Two might be OK too, depending on how nice your company is.
As for the question of years driving, I would suggest calling up an insurance company, not necessarily the one you're planning on going with and asking them. Theres probably too much info that is none of anyones business involved in you fully explaining your circumstances in this forum so I'd just ask an insurance agent.
Insurance is assigned to people, not cars, in Ontario. You need your own insurance policy which has your name on it to drive as an insured driver, i.e. legally. If you have your own insurance policy then you can drive your parents car occasionally even though its not on your policy. If the car which your parents have insured is the one you plan on driving then I would think that with your 4 or less years of driving the cheapest insurance would be under your parents policy but if you have a car all to yourself then shop around.
If you were found not guilty of the speeding ticket then it never happened so the insurance company won't find out. If it was reduced to a non-points offence then they can find out but since you have been driving for a while they will probably let you away with it as long as you only have the one. Two might be OK too, depending on how nice your company is.
As for the question of years driving, I would suggest calling up an insurance company, not necessarily the one you're planning on going with and asking them. Theres probably too much info that is none of anyones business involved in you fully explaining your circumstances in this forum so I'd just ask an insurance agent.
Insurance is assigned to people, not cars, in Ontario. You need your own insurance policy which has your name on it to drive as an insured driver, i.e. legally. If you have your own insurance policy then you can drive your parents car occasionally even though its not on your policy. If the car which your parents have insured is the one you plan on driving then I would think that with your 4 or less years of driving the cheapest insurance would be under your parents policy but if you have a car all to yourself then shop around.
And no you do not need your own policy to drive, do not listen to him ... As long as the vehicle you are driving, ie. a friends vehicle is insured, and you have a valid licence, you are able to drive with permission from the owner.... Don't give advice if you don't have a clue what your talking about ..
And YEs you can drive your parents car, as long as you have a licence, they have insurance on the vehicle and they give you permission ...
01-Jun-2004, 09:49 AM
#4
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LOL... I'm going to have to have a word with my dad. I think I was had in my younger years so as not to drive his Cadillac.
So if I lived in a house with 3 people and 2 cars, one person could get away with not buying insurance?
So if I lived in a house with 3 people and 2 cars, one person could get away with not buying insurance?
01-Jun-2004, 09:55 AM
#5
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You don't need a policy to drive a vehicle ... THE VEHICLE NEEDS THE POLICY ... and yes, most parents tell their kids that so they don't drive the nice family vehicle, OR most parents don't know any better ... correct that, 99% of the population doesn't know that ... thats the brokers job for not educating the policyholder better ...
The 3 person, 2 cars thing ... All 3 people would be listed on each of the 2 cars, since they are all licenced and live in the household ... they would just have to different primary drivers .. .like mom on one, dad on another and the son or daughter would be listed as occasional on both ...
The 3 person, 2 cars thing ... All 3 people would be listed on each of the 2 cars, since they are all licenced and live in the household ... they would just have to different primary drivers .. .like mom on one, dad on another and the son or daughter would be listed as occasional on both ...
01-Jun-2004, 10:40 AM
#6
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I'm not talking about a family living together, 3 unrelated people and two cars which have been insured to 2 of these people for a while is the situation I'm pondering. Surely I'm not required to put roommates on my insurance policy and since you said that its fine to drive someone's car with their permission then can't that third person skip the insurance process?
01-Jun-2004, 11:39 AM
#7
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If three people are living together "technically" because they are in the same household you are suppose to notify your insurance company .. the reason for that is, if one of your roomates took your vehicle without your permission, it would be theft, right? ...Nope, not in the eyes of the insurance company, because anyone who lives in the houehold has implied consent to drive ... thus, they would like to know ...
Now realistically, your not going to add your roomates, since you want to save money, so as long as all 3 are properly licenced, all you have to do is give them your permission to drive and your fine ... I am of course assuming that both vehicles have insurance on them ...
Now realistically, your not going to add your roomates, since you want to save money, so as long as all 3 are properly licenced, all you have to do is give them your permission to drive and your fine ... I am of course assuming that both vehicles have insurance on them ...
01-Jun-2004, 12:45 PM
#8
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Nice loophole. So essentially this could work for anyone who isn't able to get insured or has enough claims/tickets that the cost is ridiculous. You'd think the industry would have some kind of safeguard against that, but I guess not.
In addition, say I'm driving a friend's car and I wreck it. If I'm insured I would assume that my company pays for it whereas if I'm uninsured on my own vehicle then it's his company's responsibility.
In addition, say I'm driving a friend's car and I wreck it. If I'm insured I would assume that my company pays for it whereas if I'm uninsured on my own vehicle then it's his company's responsibility.
01-Jun-2004, 01:35 PM
#9
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Well the safeguard against that is the company is assuming that you have the utmost good faith and will report everythig to your company ... espeically if you are living with people who may drive your car daily ... if you have a claim, and your friend is driving, and the company finds out you live together, your friend will be added to the policy, and chances are your rates will go up ...
If you wreck your firends car, HIS COMPANY pays for the damages to his vehicle .... Why would you company pay for it, they do not insure the car. The company who insurers the car is always priority .... ALWAYS ... There is a difference when it comes to injuires, but where just speaking about a car here....
If you wreck your firends car, HIS COMPANY pays for the damages to his vehicle .... Why would you company pay for it, they do not insure the car. The company who insurers the car is always priority .... ALWAYS ... There is a difference when it comes to injuires, but where just speaking about a car here....
01-Jun-2004, 02:01 PM
#10
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Heh, "good faith" and "insurance company" are not two phrases I would associate with each other. "Your premiums went up 20%" "Why?" "Because."
I think I can exploit that loophole in the next few months, thanks for the help.
I think I can exploit that loophole in the next few months, thanks for the help.
01-Jun-2004, 02:14 PM
#11
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Just don't get caught .... The 20% increase thing can be explained, its just brokers are not told why the increase is needed ... the price of claims has gone up, so premiums have to go up as well .... its simple Economics, and not price gauging as most of the public thinks ... check any Insurance companies fincancial statement and you will see why premiums are going up ...
01-Jun-2004, 02:34 PM
#12
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Oh I don't doubt there's a reason for it. There are reasons for everything. The fact that there is an industry which can decide to jump its revenues by 20% without offering a full explanation to its clients, who have no choice but to pay the increased premiums, just simply disgusts me. It's an artificial market condition and I'm a capitalist pig. I don't suspect I'll see any red ink on any insurance company's financial records but I'm sure a lot of people saw it on theirs following the rate hike.
As far as getting caught, from what you have told me, which I'll verify before going through with anything, I can arrange it so that there is nothing to catch. There's an additional step that can be taken to remove any chance of repercussions.
As far as getting caught, from what you have told me, which I'll verify before going through with anything, I can arrange it so that there is nothing to catch. There's an additional step that can be taken to remove any chance of repercussions.
01-Jun-2004, 02:46 PM
#13
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Well, if you know how to read a financial statement, you will see a loss in the auto sector of any insurance company in Ontario ... but with all your devine wisdow, I'm sure you knew that ... Companies don't make money on auto insurance, the only reason they sell it is because its mandatory ...
As far as checking what I have told you, please do ... just make sure you ask someone who knows something about insurance...
As far as checking what I have told you, please do ... just make sure you ask someone who knows something about insurance...
01-Jun-2004, 09:58 PM
#18
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Originally posted by What_Type-R_You
so, lets say i cant afford insurance, since my rates are crazy, but i need a car to go to school, what other options do i have? can i "move out" and continue to borrow the car everyday?
so, lets say i cant afford insurance, since my rates are crazy, but i need a car to go to school, what other options do i have? can i "move out" and continue to borrow the car everyday?
01-Jun-2004, 11:38 PM
#19
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ok well we have 2 civics, both under my dads name, but for some reason my insurance skyrocketed to $5500. i was originnally paying 2500 ish for me under my dads name, now i am thinkin, instead of having my dad, my mom and myself on the insurance, ill just take myself out. since it would b alot cheaper. the only thing is that im not sure if im allowed to drive it legally everyday.
02-Jun-2004, 02:11 PM
#20
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I assume you live in the same household as your parents? and when your father and mother get or got insurance, they have to list all licence drivers in the household ... so if you live with them, you are going to be on the policy .. the only time you can be taken off is if you move out, or you have your own car and are the primary driver ... make sense ?
