2nd car- whose name to register it in?

[Deal Guy]

If my first car is registered in my name, and I get a 2nd car, am I better off buying and registering that car also in my name, or rather in my wife's name? Which way will insurance be cheaper, if we both have clean records?

Please advise, and why.

Thank you.

[Definitions]

I'm pretty sure having a second car on your insurance is cheaper. I think that means it should be registered under your name.

Source is what I remember my brother saying. Why do I trust him? He has experience.

For other sources I googled it and came up with this link
https://www.autoinsurance.org/is-it-cheaper-to-add-a-second-car-to-insurance/

[savvydigz]

If my first car is registered in my name, and I get a 2nd car, am I better off buying and registering that car also in my name, or rather in my wife's name? Which way will insurance be cheaper, if we both have clean records?

Please advise, and why.

Thank you.

Insurance would be cheaper on your name, as you halve the risk of having an accident with this car because less driving time according to the insurance companies.

[Deal Guy]

Even if my wife is listed as a 2nd driver on both cars, it's still cheaper for me to be the primary on both cars, vs doing 1 and 1?

[ckmk47]

Who's your insurer?
Geico lets you change your policy on line, so you can see the price of each choice and not click "buy new insurance/ change my plan".
Other insurers also have such options.

[Definitions]

Insurance would be cheaper on your name, as you halve the risk of having an accident with this car because less driving time according to the insurance companies.

I don't understand this logic.

[ckmk47]

I don't understand this logic.

The insurer is insuring the person more than the item.  So if a person owns 2 cars, he's only spending marginally more time on the road than with 1 car, so he's not really an additional risk.
But if there are 2 drivers, having 2 cars means more time on the road, so the risk is increased.
Perhaps having both cars on one policy will be cheaper because the insurer is already taking on part of the risk, and now is assuming only some additional risk, instead of a new policy where the new insurer is taking on new risk, (but the old insurer would now be removing the 2nd driver from their risk?)


Deal Guy, ask your broker or insurer.  Doesn't cost to ask.
Please get back with us so we'll know - at least in your case.

[neveryou]

If you both are primary insured on both cars on same policy, won't make a difference

[neveryou]

Insurance would be cheaper on your name, as you halve the risk of having an accident with this car because less driving time according to the insurance companies.

No, if your the only insured and have more than 1 car insured it will be more expensive than if you have a spouse on the insurance with you.

Being the only insured with multiple vehicles is bigger risk. Why do you need so many cars? Maybe your lending it out? Insurance companies aren't stupid, they have tons of data