Hey guys,
Just a quick question, Im just preparing for my Mini Cooper S that I am expecting around September 18th... Anyways I have a question if you guys can answer..
Right now I am driving a Honda Accord 93 which is under my dads name... but the new mini Cooper S will be under My name and my dad will be the co-op.. can i still get insurance under his name cause it is in my understanding that FS-20 has to match with the Registrant... but the car will be register under my name and insurance on my dad... can i do that??? Or shold i register it under my dad and have me as a co-op...
I need to be a co op cause I am going to be paying for the car and i had given my credit information cause i have good credit and my dad doesn't lol....
but anyways
if i get it on my dads name the car and insurance its going to be around 788 for 6 months and if i get it on my name its going to be 6k per 6 months...
any sugestions would be appreciated it thx...

This is my first car i am getting so i need some infooo thx

 

None of the registration of the car should be in your name.

You should not be on your own insurance. This common trend in households for kids to get their own insurance is wasteful or hurtful to the driver and the household.

1. Legally, if you are licensed driver that is a son or daughter of the head of household, you must be insured on ALL of the cars in the house. There is no question about this. You are an additional driver. People willl say no, but this is the case. Get into an accident where cash is required to be paid out, do otherwise, and it can be brought against you (aka, screwed). Insurance agents are nervous that their customers wont buy from them and some withhold this information.

2. There is no benefit to a young driver to be on their own insurance policy. There is no money benefit for "starting" a history of insurance. You will get the same benefit if the household does not reclaim money for insurance, whether home owners or car. The household will get a substantial discount if they have multiline and multicar and also no one gets into a wreck that costs them money for several years. Multiline is from home owners and life insurances from the same company that gives auto insurance. Multivehicle is when you insure more than one car.

3. If you play by the rules and safeguard your parents home and your future money, AND you get your "own" insurance, you will pay the following:

- you will pay your huge new driver amount on a sports type car
- you will pay for whatever claims your parents have had against the insurance company for money (if the roof leaked or mom smashed the car up last year) This is odd, yes, but true. you pay for those things that have nothing to do with you even if you were a minor when they happened with no insurance. you are considered one of "them" and are subject to be rated risk wise with the entire group. They assume you will lie and your parents will lie and that dad with 90 accidents and 300 dwi's will take your car for a spin and vice versa.

I just went through all of this minus the youth level of insurance premium (ouch) with my reputable agent. Also, if you can get rid of one car somehow, you can "transfer" policies to the new car and get a nice discount there that doesnt factor in negatives.

 

I'm selling my 1996 Sidekick, and adding my 2006 MCS-JCW. Insurance is AAA. Total annual difference? $25.00 Something to look forward to when it's all in your name.

El Jefe has sound advice.

 

well my dad will be the Co Op do you think i can get the insurance on his Name?