We're getting another car for the household.
Used myself in the example.
Should we put the papers/rego and insurance under my name; or put in the experienced driver's name?
Considering this to save some $$ by the latter option and/or multi-policy.
Okay or nay? Pros/cons?
Hmmm, by that time we'd just transfer car/asset?
Centrelink would then consider it as a gift if exceeds a certain value. The value of gifts sticks for quite a while.
The registered operator and the ownership of the asset can be ✌️ different entities.
Only ✌🏼, or can it be 🤟🏼 , ✌🏼✌🏼 , 🖐🏼…?
Bravo 👍 ✨
Whomever is the primary main driver of the vehicle.
I assume you're a young male, and majority of the car's use will be by you?
If you put it under someone else's name, but list yourself as one of the drivers, it will cost just as much as if you get the insurance under your own name.
If you don't list yourself as a driver at all (even though in reality you're the primary driver), then of course you can get a much cheaper premium. Be very careful with this - at best, you'll have to pay a bunch of expensive excesses when you claim, and at worst, your claim may be rejected entirely, and you will be banned from the insurer.
Could be cheaper if OP’s relo is in an area with a lower premium compared with OP’s.
However, there is what is legal vs ethical question.
But.. if I'm not at-fault .. 😏😎?
If you put it under someone else's name, but list yourself as one of the drivers, it will cost just as much as if you get the insurance under your own name.
I disagree. When insuring our vehicles a few years back we wondered about putting parents on the insurance as they did drive the car occasionally. Adding them decreased the premium, so that made the decision easy!
That may or not be still true
Incorrect, I keep adding my parents into my insurance as it drops the premium cost. No claims or anything but just an age increase listed as a driver
Adding poll option
OK falling down rabbit-holes…
Does the rego owner and policy-holder need to match/be one person; or can be one and another?
I imagine it just makes things easier come claiming …
Car 'insurance fronting'
https://www.finder.com.au/car-insurance-fronting
How would they even detect/investigate fronting? 🤔
And I haven't found much experiences online about it.
No, but it makes it easier in the case of a claim as it’s usually more straightforward.
They don’t need to detect it while you are paying them money and not making a claim. But if you make a claim and it’s suspicious. They will check it.
And you better believe they investigate suspicious claims… what is suspicious? ANYTHING in their opinion that is slightly out of the ordinary.
And if they decide you were being dodgy, good luck getting any insurance from anyone in the future.
Well, I'm not sure about all carriers, but I know AAMI allows the car owner and the policy holder to be different, and again have different listed drivers… Or at least that's what they've told us
If you defraud an insurance company and they find out they will f… you dry.
You will then never get insurance again from most companies because one of the first questions they always ask is:
In the last 5 years, has any owner or driver had any insurance refused, cancelled or avoided, insurance renewal not offered, special conditions imposed or claim refused?
Woolworths do not allow main driver and registered owner to be different people
What if the registered operator doesn't have a licence?
Guess you can't insure through Woolies then. Someone above said AAMI is ok to do different
@knobbs: The budget insurers keep their prices low by having more onerous conditions and not insuring higher risk clients.
@Euphemistic: I have used budget to be insured while looking after a friends car. They were the owner and i was the main driver.
While shopping around for insurance i found calling them to be more helpful rather then looking online when it comes to complicated matters.
When you add yourself to the policy, assuming you are the youngest on the policy, it does it to the youngest driver anyway. Doesn't save you much if anything at all.
How much sharing is the car doing? You say ‘for The household’ but does that mean young person drives 5 days a week and the older relative drives it once a month or more even?
If it’s more even or spread evenly over several drivers, register, insure in the older drivers name but add listed drivers. If it’s more than 50% you, list for you and add them.
If you put the rego in an older person's name who is a pensioner you pay less rego.
You can still put insurance under your name.
Rego is really all you are saving
Ownership and driving are 2 different things
Pros you can save a bit of money. Cons if something happens and they find out you're committed fraud, you get blacklisted (most car insurance are under 2 main companies) and/or you don't get covered. Up to you if you wanna gamble. But the whole point of insurance is to not gamble.
And to reply to your other question in the thread. No, registrated owner of the car does not have to match the insurance policy holder or even the main driver of the car.
Cons if something happens and they find out you're committed fraud,
There is no fraud here.
OP can drive a car that is registered to someone else and still be covered by insurance.
Saying someone else is the main driver when they're probably going to touch it once a year is fraud
(most car insurance are under 2 main companies)
which are the 2 mains?
Why don't you just get online quotes with different options and see what is best?
My gut feeling is as long as you putting down accurate information it is not going to make a difference.
I think if you add a "young driver" premium goes up regardless of whether they are the main driver or not.
The sooner you start paying insurance yourself, the sooner you get rating 1 and the cheaper it will be in the long run for you.
From 18-29 I’ve had a WRX STI, RS3, M4 Comp and X3M Comp. All of which as a young male were bananas for insurance premiums, some companies wouldn’t even touch me (fair enough).
My last premium on my X3M Comp was $169 a month insured for 150k. Including unlimited car hire, NCB protection, glass and roadside assistance.
I’ve now grown up and don’t have such high performance cars (M135i now). Insurance is $118 a month and includes all of the above options plus new for old replacement in first two years.
I’ve also had one at fault accident back in 2017 which luckily NCB seems to have paid off because my premiums never went up the following years.
All depends on your view about insurance fraud i guess.
My wife and I have had the cars in her name and named me as a 50% additional driver which is accurate in terms of how often we drive each car. Doing it this way cost us a couple of hundred less than the other way round.
Realistically, I am so much better at driving and risk management than her. I chalk it up to all the 4wding and sim racing I do and this has made me great at reading the traffic and being able to visualise the extremities of the cars really well. If you were to ask me what colour the car is behind, I will say I can give you a description of the driver as well.
Makes no sense to me the price model, but I say take advantage of the algorithm. I've had a claim and it wasn't an issue at all.
Depends where you are.
Corrupt QLD has a strong growing number of cars registered in backpackers names to skip the treatment they get!
there are legitimate scenarios where the insured main driver of a car may not necessarily be the same as the registered owner.
many years i have driven a car that was registered under my partners name, but i was the sole driver on the insurance policy.
i also own the car that my dad drives to which he is insured for.
It may affect them if they are getting a pension, as it’ll count as their asset.