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Author Topic: Car Insurance Master Thread  (Read 321504 times)

Offline freddy

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Re: Car Insurance Master Thread
« Reply #680 on: June 11, 2015, 04:16:29 PM »
If I live at a different address (a yeshiva) but in the same city as my parents do I need to be added to their plan?
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Offline YSP

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Re: Car Insurance Master Thread
« Reply #681 on: June 18, 2015, 12:32:57 PM »
BUMP
Yes, Since you have regular access to the vehicle

Offline freddy

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Re: Car Insurance Master Thread
« Reply #682 on: June 18, 2015, 07:47:08 PM »
Yes, Since you have regular access to the vehicle
If I'm pulled over will I get in trouble? Basically how do they know if I drive it often?
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Offline Lou Bob

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Re: Car Insurance Master Thread
« Reply #683 on: June 19, 2015, 12:42:53 PM »
If I'm pulled over will I get in trouble? Basically how do they know if I drive it often?
the bigger question you have to ask yourself is- if cv you get in a crash, what kind of headache would you like? Being insured vs (possibly) uninsured.

Don't play shtick with insurance.
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Offline skyguy918

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Re: Car Insurance Master Thread
« Reply #684 on: June 19, 2015, 01:09:53 PM »
the bigger question you have to ask yourself is- if cv you get in a crash, what kind of headache would you like? Being insured vs (possibly) uninsured.

Don't play shtick with insurance.
How would you be uninsured? They'd have to void the whole policy. Otherwise you're covered the same way your friend is covered if you lend you car.

I agree with your point in general, but you'll hear it both ways on this particular issue from people who actually work in auto insurance.

Offline myb821

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Re: Car Insurance Master Thread
« Reply #685 on: June 19, 2015, 01:22:56 PM »
How would you be uninsured? They'd have to void the whole policy. Otherwise you're covered the same way your friend is covered if you lend you car.

I agree with your point in general, but you'll hear it both ways on this particular issue from people who actually work in auto insurance.
Really? I havent read a car insurance policy in a while but I could see it as being bases for not being covered. Also usually adding a driver is not a huge cost unless you have terrible driving history so it might just be worth it to avoid any headache.

Offline skyguy918

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Re: Car Insurance Master Thread
« Reply #686 on: June 19, 2015, 01:36:03 PM »
Really? I havent read a car insurance policy in a while but I could see it as being bases for not being covered. Also usually adding a driver is not a huge cost unless you have terrible driving history so it might just be worth it to avoid any headache.
Absolutely. My parents were basically told by their broker not to put the kids on the policies.

I did a little googling and found this:
Quote from: http://codes.lp.findlaw.com/nycode/ISC/31/3105
(b) No misrepresentation shall avoid any contract of insurance or defeat recovery thereunder unless such misrepresentation was material. No misrepresentation shall be deemed material unless knowledge by the insurer of the facts misrepresented would have led to a refusal by the insurer to make such contract.
If you had added the kid when you purchased the policy, they would've issued the policy, albeit at a higher rate. Therefore, they can't void the policy retroactively (the part about issuing at a higher premium not qualifying for material misrepresentation comes from here - search premium on the page to find the relevant portion).

Full disclosure: I actually found that bit in a thread from some law forum where the OP did have his claim denied and/or policy voided because of this type of issue, but the lawyers on the thread ended up pointing out that the insurer is not allowed to do that. No word in the thread of what ended up happening with the claim.

Offline yuneeq

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Re: Car Insurance Master Thread
« Reply #687 on: June 19, 2015, 01:37:44 PM »
How would you be uninsured? They'd have to void the whole policy. Otherwise you're covered the same way your friend is covered if you lend you car.

I agree with your point in general, but you'll hear it both ways on this particular issue from people who actually work in auto insurance.

If your child is in school within 100 miles they need to be added to the insurance plan.
It's not like a friend borrowing your car for a bit.
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Offline skyguy918

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Re: Car Insurance Master Thread
« Reply #688 on: June 19, 2015, 01:39:43 PM »
If your child is in school within 100 miles they need to be added to the insurance plan.
It's not like a friend borrowing your car for a bit.
I didn't say you shouldn't add them. The insurer certainly wants you to. But they won't necessarily be able to deny your claim or void your policy due to the fact that you didn't add your kid.

Offline myb821

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Re: Car Insurance Master Thread
« Reply #689 on: June 19, 2015, 01:40:42 PM »
Absolutely. My parents were basically told by their broker not to put the kids on the policies.

I did a little googling and found this:If you had added the kid when you purchased the policy, they would've issued the policy, albeit at a higher rate. Therefore, they can't void the policy retroactively (the part about issuing at a higher premium not qualifying for material misrepresentation comes from here - search premium on the page to find the relevant portion).

Full disclosure: I actually found that bit in a thread from some law forum where the OP did have his claim denied and/or policy voided because of this type of issue, but the lawyers on the thread ended up pointing out that the insurer is not allowed to do that. No word in the thread of what ended up happening with the claim.
Thanks for pointing that out interesting read.

Offline yuneeq

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Re: Car Insurance Master Thread
« Reply #690 on: June 19, 2015, 01:41:12 PM »
Absolutely. My parents were basically told by their broker not to put the kids on the policies.

I did a little googling and found this:If you had added the kid when you purchased the policy, they would've issued the policy, albeit at a higher rate. Therefore, they can't void the policy retroactively (the part about issuing at a higher premium not qualifying for material misrepresentation comes from here - search premium on the page to find the relevant portion).

Full disclosure: I actually found that bit in a thread from some law forum where the OP did have his claim denied and/or policy voided because of this type of issue, but the lawyers on the thread ended up pointing out that the insurer is not allowed to do that. No word in the thread of what ended up happening with the claim.

If so you'd be able to live in NY and register your car in Florida, and have your policy cover you.
This is not what happens in reality. Shouldn't be any different with a kid.
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Offline myb821

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Re: Car Insurance Master Thread
« Reply #691 on: June 19, 2015, 01:52:02 PM »
If so you'd be able to live in NY and register your car in Florida, and have your policy cover you.
This is not what happens in reality. Shouldn't be any different with a kid.
very different.

Offline myb821

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Re: Car Insurance Master Thread
« Reply #692 on: June 19, 2015, 01:52:21 PM »
If so you'd be able to live in NY and register your car in Florida, and have your policy cover you.
This is not what happens in reality. Shouldn't be any different with a kid.
If i may ask what is your insurance background?

Offline skyguy918

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Re: Car Insurance Master Thread
« Reply #693 on: June 19, 2015, 02:00:38 PM »
If so you'd be able to live in NY and register your car in Florida, and have your policy cover you.
This is not what happens in reality. Shouldn't be any different with a kid.
Lol, people do that too.

Anyway, I'm not arguing about right/wrong here (I like to think that when I have this nisayon I'll just add the kid and pay the price - but who knows). I'm just informing you of the facts. And that is that I've heard multiple insurance people (usually brokers, who are not tied to a particular company) say not to put your kid on the insurance, even if they're the primary driver on one of the vehicles. That may be due to the law I mentioned earlier, which seems to indicate that the insurer can't retroactively void your coverage in order to deny your claim, just because you didn't add the kid where you should have.

Offline yuneeq

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Re: Car Insurance Master Thread
« Reply #694 on: June 19, 2015, 02:28:20 PM »
If i may ask what is your insurance background?

The same as the guy I was disagreeing with. (It seems like you also disagree). 

Lol, people do that too.

Anyway, I'm not arguing about right/wrong here (I like to think that when I have this nisayon I'll just add the kid and pay the price - but who knows). I'm just informing you of the facts. And that is that I've heard multiple insurance people (usually brokers, who are not tied to a particular company) say not to put your kid on the insurance, even if they're the primary driver on one of the vehicles. That may be due to the law I mentioned earlier, which seems to indicate that the insurer can't retroactively void your coverage in order to deny your claim, just because you didn't add the kid where you should have.
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Offline myb821

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Re: Car Insurance Master Thread
« Reply #695 on: June 19, 2015, 03:12:29 PM »
The same as the guy I was disagreeing with. (It seems like you also disagree).
your an actuary?

Offline SrulyP

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Re: Car Insurance Master Thread
« Reply #696 on: June 25, 2015, 12:28:46 PM »
I am moving to 5 towns and trying to figure out the cheapest car insurance options out there. 2 cars and 2 drivers. I am getting about $450 quote per month from geico. Can I get cheaper?
Any suggestions.

Offline zlt123

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Re: Car Insurance Master Thread
« Reply #697 on: June 25, 2015, 01:37:02 PM »
Is leasing like a rantel that you cant let anyone drive it if they are not on your lease/insurance ?

Offline myb821

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Re: Car Insurance Master Thread
« Reply #698 on: June 25, 2015, 01:59:09 PM »
I am moving to 5 towns and trying to figure out the cheapest car insurance options out there. 2 cars and 2 drivers. I am getting about $450 quote per month from geico. Can I get cheaper?
Any suggestions.
450/month???? do u have major accidents or tickets on your record?

Offline SrulyP

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Re: Car Insurance Master Thread
« Reply #699 on: June 25, 2015, 01:59:26 PM »
Don't think so