CRAZY Insurance Premium! Any way out?

From Toronto, Ontario, I am a 19 y/o male and want my own vehicle.

Without paying a crazy insurance rate of $6000+ per year, how can a 3rd vehicle be purchased and licensed under my parent's name (I live with them) having them as the primary driver?

The problem is, from what I know, if I am licensed and living at the same address, I will automatically be primary driver of the 3rd vehicle as now there are 3 drivers and 3 vehicles.

So what if my parents had 6 cars? There must be some way out..
Additional Details
I have taken a defensive drivers course, my rates are as low as possible for my risk class.

The rate is high because they AUTOMATICALLY put me as the primary driver of any third vehicle added onto the policy.

oleowl_2000

shop around! Difference in rates is staggering.

Jackson N

I have an American Insurance Agent's License. I can't swear about Canadian insurance standards, but I do know that US and Canadian insurance standards are more or less identical in most cases because they have to work together so often.

Under US law, yes, you'll automatically be designated as the primary driver. If your parents own the car and you changed your official address (to, say, your grandmother's house across town or something) you might be able to fool the insurance companies for awhile.

If you have an accident, there will definitely be a fraud investigation. A number of things could happen: Best-case scenario, you'll be covered for the damage, but your parents' premiums will go sky high because the accident will be a lending loss. Worst-case? All three of you go to jail and lose your driver's licenses. Medium-case scenario? You could just have your claim denied and/or your coverage dropped.

Still, unless you have accidents or tickets on your record, $6,000 is a bit high (yes, I'm thinking in Canadian dollars, and it's still high). Your parents have expensive coverage. You should see about getting a separate policy only for yourself. Also, if you can buy the car outright, you won't be required to get full coverage, so you can pay for liability and uninsured motorist coverage only.

Also see about discounts. Discounts are available for all kinds of things: always wearing a seatbelt, making good grades, taking driver's ed or a defensive driving course, being a member of certain organizations, automatic safety belts, anti-lock brakes, a car alarm, getting the VIN etched into the window glass ...

J.A.

If your parents purchase the car for you, they would have to title and register it in their name, put you on their insurance policy and list you as the primary driver. (I know thats how it would have to be in NY). Don't get a DWI anytime soon... I got one when I was 19, and I pay $2160 for 6 months...

Ross M

I don't believe there is any way out if you are going to be driving their cars. You might want to see if your parents are willing to shop around for insurance.

Is there a reason why it is this high?

Smevans

Try taking a defensive driving course... most insurance companies will lower rates once you've done that.

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