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Old 10-15-2015, 10:57 AM
 
Location: on a big rock hurling through space
347 posts, read 423,156 times
Reputation: 485

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Hi CD,

I've relocated to an expensive city for car insurance. The insurance company is willing to slice my policy in half if I add my mom's name to my title (going under her policy). I paid off my car two years ago and own it outright. Would there be any negative hiccups or repercussions should I add her to my title? She doesn't mind doing this. The only thing I can think of is when it came time to move or sell the vehicle, I'd just need her signature - correct?

Can anyone think of anything else? I don't believe this affects my credit in anyway?

Thank you for your thoughts & insights.
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Old 10-15-2015, 11:03 AM
 
Location: On the Chesapeake
44,919 posts, read 59,916,725 times
Reputation: 60449
Needing her signature would depend. Generally if the owners are listed as "or" you'd be ok. "And" is usually when you need both signatures. It may vary by state.

How much do you trust your mother? I would have never in a million, make that a billion, years considered adding my mother to anything I owned.

She was vindictive enough to have sold whatever to "teach me a lesson". She was like that her entire life and was 89 when she died. I was 56.
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Old 10-15-2015, 11:11 AM
 
Location: on a big rock hurling through space
347 posts, read 423,156 times
Reputation: 485
Thanks for your comment. I trust my mom, so I'm not worried about anything malicious. It just makes me feel kind of dependent on her, which I don't really like...but it's a huge savings..$800/year savings!
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Old 10-15-2015, 11:18 AM
 
18,791 posts, read 27,223,935 times
Reputation: 20145
Or, finding a different insurance maybe? Folks have tendency to NOT shop around.....

I am also still trying to fathom this:

I've relocated to an expensive city for car insurance.

You moved to a city that is somehow causing higher insurance rates? Is it some ghetto or something with cars stolen all the time? Oh, I see. Rural area is one of the factors that lower premium. So you moved from rural to a city?
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Old 10-15-2015, 01:26 PM
 
Location: on a big rock hurling through space
347 posts, read 423,156 times
Reputation: 485
Quote:
Originally Posted by ukrkoz View Post
Or, finding a different insurance maybe? Folks have tendency to NOT shop around.....

I am also still trying to fathom this:

I've relocated to an expensive city for car insurance.

You moved to a city that is somehow causing higher insurance rates? Is it some ghetto or something with cars stolen all the time? Oh, I see. Rural area is one of the factors that lower premium. So you moved from rural to a city?
Yes, semantics. I moved to a city that has higher insurance rates than where I was previously living. Get over yourself.

No, five insurance quotes were given. We've all been shopping for the best rates. Thank you for contributing nothing to this thread but arrogant sarcasm.
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Old 10-15-2015, 02:41 PM
 
Location: Billings, MT
9,885 posts, read 10,895,795 times
Reputation: 14180
If you add anybody to the title of your vehicle, they become liable for any stupid thing you do!
Go to fast and destroy several thousand dollars worth of private property? THEY are just as responsible as you are!
Drive drunk and kill somebody? Liability!
Fail to pay a parking ticket? Liability!
Get nabbed by a red light camera? Liability!
While your mother is being nice and trying to help you, it could very well destroy her retirement if something happens.
No, it will probably not have any effect on YOUR credit rating, but it could destroy HERS!
Yes, if her name is on the title, she will have to sign it before you can transfer it to another person.
Personally, I would not risk the liability. I would tell you to get a car that is cheaper to insure if you were my kid.
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Old 10-15-2015, 03:15 PM
 
8,272 posts, read 10,876,055 times
Reputation: 8908
Most insurance companies set rates by where the car is "garaged". Meaning where it is parked all of the time. Such as your house or apartment.
Not whose name is on title.
Now, can you get away with this?
Sure.
Just don't get caught such as an accident where the insurance investigators get involved.
Each state, of course, varies with rules and such.
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Old 10-15-2015, 03:19 PM
 
Location: On the Chesapeake
44,919 posts, read 59,916,725 times
Reputation: 60449
Quote:
Originally Posted by unit731 View Post
Most insurance companies set rates by where the car is "garaged". Meaning where it is parked all of the time. Such as your house or apartment.
Not whose name is on title.
Now, can you get away with this?
Sure.
Just don't get caught such as an accident where the insurance investigators get involved.
Each state, of course, varies with rules and such.
The bold is true. Even though my youngest daughter's residence is here with her mother and me her domicile is Baltimore County and her car insurance is based on that since that's where her car is principally garaged.

When she was in college and using one of my cars that happened also, that car was garaged in Baltimore County and had higher rates for that.
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Old 10-15-2015, 03:55 PM
 
8,272 posts, read 10,876,055 times
Reputation: 8908
Quote:
Originally Posted by North Beach Person View Post
The bold is true. Even though my youngest daughter's residence is here with her mother and me her domicile is Baltimore County and her car insurance is based on that since that's where her car is principally garaged.

When she was in college and using one of my cars that happened also, that car was garaged in Baltimore County and had higher rates for that.
Thank you.

Also, in this day of information technology, it doesn't take a rocket scientist to figure out where you live.
If you have any utility bill and such - they know where you live and reside.

So is it worth it?

Some do this all of the time and get away with it. Unfortunately, some don't.
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Old 10-17-2015, 02:03 PM
 
6,738 posts, read 2,878,838 times
Reputation: 6714
All of my vehicles and personal property are listed in both wife and my name, as "O", so either one can sign. Makes life much easier if something should happen to one of us, the other doesn't have to jump through hoops to sell the property.
We purchased a home for single daughter, titled as party1, or party 2, or party 3. Her car is the same way, so if something should to any of us, the legal hassles are eliminated.
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