Insurance

[nyk438]

I'm looking to get a 99GT or a 98 Cobra soon.. I'm 18 and still in HS and will pay for the insurance on it :bash: . I was wondering if I sign the title over to my dad then the insurance is put under him and i'll be insured under our 91' Land Cruiser, would they still charge me an arm and a leg even though the car is insured on my dad?

 

[slick4_6]

That's what I did. My dad co-signed for me so therefore he put his name on the title too. If his name is on the title I dont know if they will let you do it or not. My insurance would be $1400 a year if it was in my name, but my dad was cool enough to help me out by putting it in his. Pay $689 a year like that.

 

[poneypower]

if the registration and title are in your fathers name, and he is the registered driver for the car, then you're not gonna have to worry about insurance. I know that in NY state, they place anyone under a certain age that is driving what they consider a sports car into a bulk risk pool and you will pay out the yang for insurance

the only catch to putting someone elses name on the registration, title and insurance policy, and then someone else acting as the primary driver, is that if you ever get caught (ie get in an accident or somehow a cop finds out) you are in deep poodoo. Uninsured motorist and insurance fraud are the usual things they like to throw at you, and in the worst case that you cause bodily harm to another person, not only are you in deep crap, but so is whoever helped you out

my fiance's little brother was 16 when he got his 98 GT and got in an accident within about 2 weeks. His family did the same thing, where they put his dad on the the paperwork, but the kid drove the car, because insurance would be through the roof. Well I tried to tell the cop that I was driving the car back from the garage and apparently he witnessed the accident and said "think about that again son, were you driving the car?" so i was like hells no dingo over there was. luckily the cop was a family friend so nothing happened but if he hadn't, there probably would have been some heafty fines (this was a single car accident btw, he ditched it :loser: )

sorry for the long post, but just want to share my experience. As long as you drive safe, you shouldn't have any problems. maybe also look into getting put on as a occasional driver for the poney, that way you can drive it without any worry

 

[notchstang92]

What I did when I was your age was have the policy written with me as the owner and my mother as the primary operator and me as the occasional. The insurance went under her step instead of mine. Just be careful cuz if you ever have a loss and they can prove you are the primary operator and you are listed as the occasional they will deny your claim

 

[S.C.L.A.98COBRA]

I did the same thing, the title and everything including the insurance is under my fathers name (he's cool) so I only pay about 130 a month. The thing is that in CALI if you live in the same household your not (by law) suppose to drive the car unless your under the insurance policy. I'm 21 now but if I wanted my Cobra to be under my name with insurance I would be paying about 250-300 a month plus the car note, way to much.

The only thing I can say is to get everything under your fathers name so it won't cost you as much.

 

[slick4_6]

I didnt know that. I'll have to check into the occasional driver.

 

[zzzzzer]

My first car DEFINITELY went under someone else's name and what I paid annually was less than I pay now over 4 months. Just be careful about others being able to prove who's "primary operator" and you'll be in the clear. Good luck.

 

[ZincDude]

I just got my renewal the other day. I went from $1400.00 a year to $2400.00. Which is complete BS. Looking for another carrier!! No accidents, no tickets. NO LUBRICATION

 

[slick4_6]

No offense to the GT guys because they can be quick too, but I would definately get any year Cobra over a GT. For the most part, the early Cobra's resale price has leveled off. They are not going down in value. I started with a GT and ended up trading up to the Cobra. Would have been cheaper to just have started off with a Cobra.