insurance under my grandpas name???

[Dave Coyle]

Rogue, this may be true in your state but in Michigan, both my son and daughter have vehicles in THEIR name and I insured the vehicles in MY name. My daughters husband hit a deer with their car a little over a month ago and insurance, IN MY NAME, issued the check to her in HER NAME and I still have the same insurance company and the same monthly cost and they did not list her on my insurance as a driver. THIS IS TRUE AND NOT MADE UP. But tmac, do what you want.

[SSOOCH]

You can do anything you want. But if you willingly flat out lie to your insurance company, it might be considered insurance fraud.

[Kwik]

Mscaggs is right on the money. If something happens you are asking for a lawsuit.

[PQ]

Originally Posted by tmac1granger33

well my uncle whos 23 financed his 2010 diesel truck in his name only... and the insurance under his dads name... he has had several claims and had no problem...

Wonder if this is why insurance rates are so damn high?

[riverrattcom]

Originally Posted by mscaggs

Treat everything in your life with honesty and integrity and you will be rewarded many times over. Nothing but bad can come from doing something you know is underhanded. Just ask yourself how you would feel if you were in an accident and your Grandpa was sued for everything he has and ahs worked for after helping you out! Easy answer, do the right thing and sleep well...

[Rogue Leader]

Originally Posted by Dave Coyle

Rogue, this may be true in your state but in Michigan, both my son and daughter have vehicles in THEIR name and I insured the vehicles in MY name. My daughters husband hit a deer with their car a little over a month ago and insurance, IN MY NAME, issued the check to her in HER NAME and I still have the same insurance company and the same monthly cost and they did not list her on my insurance as a driver. THIS IS TRUE AND NOT MADE UP. But tmac, do what you want.

Dave your story doesn't make sense. I was a licensed agent in many states including Michigan. The way I understand your story your insurance paid for damage to her car that she insured herself? that doesn't make sense, unless you are all on the same policy. You can all be on the same policy and have the cars titled and registered to their respective drivers depending on how the insurance company is filed to do business in the state.

Or are you saying your daughters husband was driving a car insured by you and had an acident and the insurance company paid them? And also did not add them to your policy? That also makes sense. If your insurance company which is the same as theirs knows that they have a policy, they won't add them to your policy just because they had an accident driving your car. The insurance company will only add them if they don't have insurance of their own. This is not true in the OPs case so I didn't even mention it. As for the insurance company issuing the check to them if it was your car, that was likely just a clerical error.

Can you explain the story better?

[dstairs]

Originally Posted by Dave Coyle

Rogue, this may be true in your state but in Michigan, both my son and daughter have vehicles in THEIR name and I insured the vehicles in MY name. My daughters husband hit a deer with their car a little over a month ago and insurance, IN MY NAME, issued the check to her in HER NAME and I still have the same insurance company and the same monthly cost and they did not list her on my insurance as a driver. THIS IS TRUE AND NOT MADE UP. But tmac, do what you want.

In Texas and New Mexico at least one of the owners have to provide proof of full coverage on the vehicle to the lienholder. They will want that to be the primary driver and will want to know what the primary use of the vehicle will be(back and forth to work, weekend recreational, business, personal, drag racing (j/k), etc).

In the case of the OP in New Mexico if he is the primary driver, he is asking his Grandfather to commit insurance fraud. Most Insurance Companies sort of frown on this type of policy, as much as lienholders frown on people that get a car loan in their name and they are not even the driver. That is called a "Straw Purchase" and is illegal in most states unless the actual driver is a spouse or a dependant living at the same address in some cases.

Now in the case of Dave, I am not aware of the laws of his state, I am wondering how a lienholder would allow her to not have proof of insurance in her name, unless you are a co-signor. Of course once the lienholder's loan has been satisfied insurance requiements can be a lot different.

[oneinch]

...Just ask yourself how you would feel if you were in an accident and your Grandpa was sued for everything he has and has worked for after helping you out!...

Your Gramps is being real nice sticking his neck out for you to cover the loan, but this is a fixed amount. Be responsible for yourself and insure the car yourself and leave Gramps out of it. You're scheming to save a few bucks. Your scheming could cost Gramps dearly. And all so you can save a few bucks. Really, if you need a co-signer to buy a(ny) new car you shouldn't be buying a new car. Get something within your price-range.

[tmac1granger33]

lol thanks everyone i will just pay my insurance on my self i thought it be a way tosave some bucks but na your right im happy the gramps is cosigning its gonna be up to me to pay that extra 300 bucks which is cake!

[DkknightX]

Originally Posted by tmac1granger33

my grandpa is cosigning for me on my camaro.. i was just wondering if it is possible for him just to insure it and I would be "borrowing" the car??? i know lots of my friends and people i know have done this with theyre gt mustangs diesel trucks etc... but since i am going to be on the note would he have to exclude me??? ive heard that the bank does not care as long as its fully insured..

I'm sorry man, but you really need to learn how to be independent and take responsibility for what it takes to own a car, how to insure it and how to protect yourself. All too often you are consistently piggy-backing off of your parents and now your grandparents. Haven't they given you enough support? Take your time, grow up and be patient already. I personally find it insulting that you weren't happy with your Dodge Charger that was handed to you on a silver platter and had the audacity to desire a Camaro that would have put your parents and yourself in a deep financial hole. You know what POS I was driving at your age? A friggin' $500.00 1985 Dodge Charger in 1996. Yeah, so be grateful for what you have and stop looking for ways to circumvent the system because you want to grow up too damn fast! They have age restrictions for a reason. Now obey the law.

[DkknightX]

Originally Posted by tmac1granger33

my grandpa is cosigning for me on my camaro.. i was just wondering if it is possible for him just to insure it and I would be "borrowing" the car??? i know lots of my friends and people i know have done this with theyre gt mustangs diesel trucks etc... but since i am going to be on the note would he have to exclude me??? ive heard that the bank does not care as long as its fully insured..

Yeah, but because your friends do it, it is alright? Listen man, I'll tell you straight up that you need to stop following and start leading for yourself. These crazy schemes of yours all have you being bereft of responsibility when the typical progression of life is that you assume more of it and also assume accountability for what you want, what you say and what you do.

[kjd15]

It's better for you in the long run if you are listed on the policy and build a clean record with no tickets or accidents. When you want to get your own insurance some day, you will have a better chance of getting a lower rate.

I have a friend who didn't put her kids on the policy til they had accidents and her rates went up much higher than if she had put them on the policy from the start. But this is NY, so maybe things are different where you are.

[buzzy56]

Originally Posted by Rogue Leader

Dave your story doesn't make sense. I was a licensed agent in many states including Michigan. The way I understand your story your insurance paid for damage to her car that she insured herself? that doesn't make sense, unless you are all on the same policy. You can all be on the same policy and have the cars titled and registered to their respective drivers depending on how the insurance company is filed to do business in the state.

Or are you saying your daughters husband was driving a car insured by you and had an acident and the insurance company paid them? And also did not add them to your policy? That also makes sense. If your insurance company which is the same as theirs knows that they have a policy, they won't add them to your policy just because they had an accident driving your car. The insurance company will only add them if they don't have insurance of their own. This is not true in the OPs case so I didn't even mention it. As for the insurance company issuing the check to them if it was your car, that was likely just a clerical error.

Can you explain the story better?

He stated that HE insured the vehicles and that the autos were registered in Sons and Daughter's individual names.

[THE EVIL TW1N]

Originally Posted by DkknightX

I'm sorry man, but you really need to learn how to be independent and take responsibility for what it takes to own a car, how to insure it and how to protect yourself. All too often you are consistently piggy-backing off of your parents and now your grandparents. Haven't they given you enough support? Take your time, grow up and be patient already. I personally find it insulting that you weren't happy with your Dodge Charger that was handed to you on a silver platter and had the audacity to desire a Camaro that would have put your parents and yourself in a deep financial hole. You know what POS I was driving at your age? A friggin' $500.00 1985 Dodge Charger in 1996. Yeah, so be grateful for what you have and stop looking for ways to circumvent the system because you want to grow up too damn fast! They have age restrictions for a reason. Now obey the law.

serious man! I was driving an '82 Pontiac J2000 back in '98 as my first car!