# living at home, bundle insurance with parents?



## twowheeled (Jan 15, 2011)

I want some advice on my situation. I'm 28 and currently staying with my parents. They own 2 vehicles and bundle with their house insurance. 

I'm a frequent mover, I haven't really lived in their house for the last 5 years but in that time I have been renting or travelling out of the country. For simplicity sake I have never changed the address, it just wasn't practical when I relocated almost every year. 

Right now I'm preparing to look for work in a different city, and I have plans to live abroad again at the end of the year. I own 2 vehicles which I constantly juggle insurance on. I put parking insurance on them when I'm away, and then reinsure them for liability when I get back. Note these cars are always parked on my parents property. 

I'm wondering if I could save a lot of money by selling these vehicles on paper to my parents, and having them insure the cars and listing me as an occasional driver. What are the legal ramifications of this? My driving record is good, but I can't get the great rates my parents have due to bundling. 

There are no concerns about finances, IE if I got into an accident at fault and their rates went up, I would pay them.


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## Mukhang pera (Feb 26, 2016)

I would say that, in the event of a claim, should the insurer discover the deception, the policy(ies) would be voided. 

When I say "deception" that's how I see it. You would be selling "on paper", suggesting the transaction is artificial. You say you would be listed as an "occasional driver" whereas, in fact, you would continue as the principal driver. The whole purpose of the transaction is to misrepresent the true state of affairs to the insurer, to obtain a rate for which you would not qualify in your own right. Have you asked your parents how they feel about being recruited to this dishonest scheme?


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## Synergy (Mar 18, 2013)

Children living with their parents "at home" with their own vehicle should quality for the same "bundle" of discounts: multi-vehicle, multi-line, etc. as their parents. Don't waste your time trying to play the system. If your parents have more vehicles than drivers (as per your scenario), you will be rated as a principle driver on one of their cars anyway. The only way you can be listed as an occasional driver would be if there are less vehicles than drivers. Sell your cars.

insure your vehicles with the same company as your parents, take off all the coverages but comp when you travel, etc. / while the vehicles are parked at your parents.

Accidents. You could be paying them for many years!


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