Car Inusrance question.
- Thread starter FTWWTF
- Start date
Especially if she's driving it more than you are. At a minimum she should be an occasional driver. Insurance fraud is a serious thing.
Can you add her to your policy, yes. But, your insurance premiums will go up and you may find that your friend is a high risk and once she's on your policy it's difficult to get her off. If she has any more infractions then your policy premiums will go through the roof.
Not worth it for you unless your getting "something" in exchange...
Not worth it for you unless your getting "something" in exchange...
Of course you can put Insurance on it. If its only about the money, you pay the premiums and she gets the driveability. I assume you will drive as well and should be listed as an occasional driver.
Now, if she has a bad driving record, perhaps an Impaired, that may well be the reason she as no insurance. It would be prohibitavely expensive.
Now, if she has a bad driving record, perhaps an Impaired, that may well be the reason she as no insurance. It would be prohibitavely expensive.
You can only add her and her car to your policy "if she lives at your address". As your blending her coverage and driving record with your own. The only way to remove her in the future would be for you to get a wavier from your insurance company for her to sign off on.
I would never do anything like that . Really , she's a friend now but for who knows how long . In the end it can cause you a lot of grief and thousands of dollars if the friendship goes South . Not worth it .
It's similar to loaning a friend some money . We all know what happens there .
Would be easier and safer to write a cheque for her required insurance amount DIRECTLY to the insurance company. Leave the car in her name. Can pay in installments. Would never put the car and insurance in your name and let her drive the car, as her premiums are likely high for a reason. . If/when there is a problem, and the friendship falls apart, you want an easy exit plan with no Costly long term legal baggage.
Assuming writing the cheque would not commit you to future payments or legal problems if there are claims. Best check.
Assuming writing the cheque would not commit you to future payments or legal problems if there are claims. Best check.
What's the problem, if you're will to go through the hassle that your talking about, just give her the money to insure it herself .
Would not give her the money directly. if she is willing to drive without insurance, she would likely take the money and buy shiny stuff. Can do a bank draft written to the insurance company, to keep your name out of it. Was thinking if you wrote cheques, and then stopped, there could be some implied commitment to pay the insurance, if there was some problem or claim in the future.
Cheque payable to cash, no? I doubt the insurance company can tie you up with that. Tell your friend it's a bigger responsibility than you both think. You can trust your friend but maybe not her driving skills? High premiums...something's not right.
You can leave the car in her name and the plates and insurance be in your name. You need to go to the MTO with a letter from her stating that you are buying the car and making payments to her and that once the vehicle is paid off you are going to transfer it.
Smart thinking . You still can help her out and be safe and not sorry if something were to happen at a later date .
