if i co sign for my dad to fiance a car, do my name have to be on the insurance, i dont want my to be on the insurance because the rate will be higher

 

The owner of the vehicle has to be the named insured.

 

we both are the owner so it can be either one right because i dont want my name on the insurance

 

correct.....

 

You are only cosigning correct? You do not have to be on the insurance. Only one name can be on the title so that would be your dad. Are you both in the same household?

 

yeah i calld the the finance company they say me and my dad both are the owner of the viechle, but i only want to put my dads on the insurance thats ok right

 

you want to fiance your car? you'd better buy it a pretty ring...

Just call the insurance company, they'll know your local laws and requirements. Just ask them and say "My dad and I will be purchasing a car together, and I am simply cosigning on the loan. Does this mean my name has to be on the insurance policy or would it only require his name?"

Usually YOU sign for the loan, and then the parent is the cosigner. the cosigner is the person whose used to backup the original signer because the signer doesn't have sufficient credit. AFAIK, some way some how if you're going to be driving it, your name has to be on the policy somewhere.

 

Not tru sir..... it depends on the state. I sell insurance in about 24 states right now and the only one outa all those states that requires anything like that is NY and they require the person the vehicle is registered to, to be a named or second named insured. But regardless if u r a common driver (wich most companies say 12 or more times in a yr) then u will have to be added in order to be a covered driver... if u live with him then they will probly ask him flat out if u r to be rated or excluded... but u will have to be listed **** iam not liscensed in CT so, this is just general information****

 

I happen to be a broker in the Los Angeles Area and rep for 13 different carriers all across the country. You can just exclude yourself and not have to worry about paying a premium for yourself; just don't expect coverage. By the way, if you cali guys want a quote just PM me....

George

 

Yeah, that's the catch I'd expect. If you want to be covered as a driver then your name has to be on the premium.

 

but you can be part time driver and your name dont have to be on the insurance right?

 

yesw it depends on state... if your in az you dont have to be on it.. my mom owns my car loan and i have the insurance. same with my bike.. my insurance my girl has reg and loan

 

How about nevada las vegas i think its the same

 

In the state of CA, if you live in the same household and are not listed in the policy, coverage does not apply. You must be listed as a driver. The only time that an unlisted driver is covered is when a named insured gives someone permisssion to use their automobile and that person's residence is other than the named insured's address.

 

If you're planning on driving it regularly, I'd play it safe and make sure you're insured in it. Having an accident that isn't covered would be a costly lesson IMO.