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You can't simply keep the insurance under a relatives name unless they are purchasing the vehicle for you and registering it in their name.
In the state of NJ, the vehicle must be owned, registered and insured to the same person...and BTW, now that you have publically stated that you are willing to committ insurance frau I would be very careful. There are steep financial penalties and possible jail time if you or you relative get caught...much more costly then following the law and insuring it in your own name.
Quote:
Originally Posted by NowOrNever
I am 22. I may not purchase the car until I am 23. If it's too much I will just keep my insurance under a relative's name and pay them. I am most concerned with purchasing an affordable 2012 car based on:
-Safety
-Warranty
-Price
-Insurance Premiums (Which include cheapest color)
I currently have a used Audi. I know I will receive a decent amount of money for it (although a portion will go towards paying it off - I would still have a few thousand to use). I would appreciate the assistance. I am thus far interested in a Honda and Nissan. Any other suggestions?
You can't simply keep the insurance under a relatives name unless they are purchasing the vehicle for you and registering it in their name.
In the state of NJ, the vehicle must be owned, registered and insured to the same person...and BTW, now that you have publically stated that you are willing to committ insurance frau I would be very careful. There are steep financial penalties and possible jail time if you or you relative get caught...much more costly then following the law and insuring it in your own name.
...and, NJ has an Assistant Attorney General, whose sole function is to ferret out those who are committing insurance fraud, and then to prosecute them.
You would be VERY unwise to do what you have publicly stated that you will do, especially since nobody is ever completely anonymous on the internet.
A court order would quickly yield your identity if the authorities wanted to find out who you are.
Oh, and just an FYI, the color of a vehicle does not effect your insurance premiums at all. That is a myth so you might want to do some research about what goes into the insurance premiums before deciding on a vehcile. Each year, make and model have a number "symbol" assigned to it. All 2012 Honda CRV EX-L with Navigation have the same symbol, regardless of the color and the same goes for each model. There can be multiple symbols for the same vehicle if there are different engines or HP ect, but not each color.
ISO sets the symbols which each carrier uses in determining the rates. They actually just broadened the symbols as there had been only 27 symbols which encompasses each vehciel, there are now approximately 97 symbols to account for very expensive vehicles which have become more and more popular and accessible.
You have all been of no help. It's not insurance fraud if everything is under a relatives name and I pay them whatever bills they get for it. Boy, this holiday season must not be good for most of you. I'm sorry about that.
You have all been of no help. It's not insurance fraud if everything is under a relatives name and I pay them whatever bills they get for it. Boy, this holiday season must not be good for most of you. I'm sorry about that.
You are asking complete hypotheticals and suggested insurance fraud and no matter how you cut it, what you suggested IS insurance fraud. The car doesn't have to be registered in your name, and you can be added to a relative's policy, but your name still has to be on there as an operator. (Which would spike the policy because you're under 25)
if you live at home and parents own the car, while you are listed as a primary driver, i doubt that'd be fraud.
my whole point in the matter is if $$$$ is a crucial factor here, I would not be buying a new car. A 5 year old car can be incredibly reliable, cost half as much to buy, and half as much on your insurance to boot.
It is if you are not listed as a driver on the policy to specifically receive reduced rates. If you are listed as the operator of the vehicle it does not matter whose name it is under it is going to be expensive.
Just because you are not getting the answer to an impossible question or the answer you want to hear does not mean people have been of no help. Do not post questions on the internet if you are not wanting to hear what people have to say.
Being a young adult means listening to the facts and then making an informed decision, being a child means not listening and researching and doing things on a whim without thinking of the consequences...not sure which catagory you currently fall into based on your response to the strangers who have taken time out of their busy days to help answer your question.
Quote:
Originally Posted by NowOrNever
You have all been of no help. It's not insurance fraud if everything is under a relatives name and I pay them whatever bills they get for it. Boy, this holiday season must not be good for most of you. I'm sorry about that.
You have all been of no help. It's not insurance fraud if everything is under a relatives name and I pay them whatever bills they get for it. Boy, this holiday season must not be good for most of you. I'm sorry about that.
You've gotten some very helpful and accurate advice in this thread. Sorry that the answers aren't what you wanted.
And your holiday season won't be so good next year if you're brought up on fraud charges.
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