My parents want to change their car into my name so that I can have my own insurance policy. how can I do this?

my parents have a bunch of expensive cars, so they dont want to add me onto their policy, because then I would be insured for ALL of their cars, which would raise their deductibles.

my mother wants to change one of the cars from her name into my name in order to make sure that her prices dont go up. however, you cannot change a car into someone else's name unless they have insurance, which I do not. what should I do?

oklatom

That won't be necessary. All they would have to do is list you as an excluded driver on all their cars except one. Of course this would mean no matter what, you couldn't drive any of their cars but the one you are not excluded on, for any reason. If you are under 18 and live at the same address as your parents, that is your only option, since your parents have to either add, or exclude you.

jaymango83

You can call the insurance company and tell them you are having the car transferred into your name and they will write you a policy for the car. Then you can go and have the title transferred and get plates on it.

calipink22

Hmm, you have a strange insurance company. If your parents have "a bunch of expensive cars" then they can afford the additional premium, right? And if they have all these expensive cars then they should have a pretty good insurance company such as Farmers, State Farm, All State, USAA, etc. With those companies the youthful driver is only insured on ONE vehicle, not all the vehicles. And insuring a youthful driving doesn't cause deductibles to increase. Your parents would probably raise deductibles to keep the premium low.

If your parents are insistent on transferring the title to your name then you can get a temporary registration with the signed title. Once you have the temporary registration you can get the insurance. Once you have insurance you can get the full registration and your plates

okmelvin

As soon as you get or "Buy" your first car, the Insurance is an obliterate and automatic step inmediately after you "Own" a car.
Your mother needs to "sell' you the car and that would be it.
Make up and sign a Bill of Sale, sign the Car Tittle, take this to your insurance agency and voila.
Unless in your State it's possible to make and get a "gift" or "Donation" it would be slaightly different.

Pat B

They would need to sell you the car, with a contract. Then you would take out an insurance policy on the car, and then register it ect.

* roger *

Your parents can donate the car to you under your name and you need to insure it if you want to drive this around.

elgrandeguevos

your parents have a bunch of expensive cars and you are asking us?
talk to your lawyer, oh and btw have jeeves bring us something to eat.

HodgPodg

Yes you can transfer ownership without insurance you just can not register it until you get insurance. Have them sell it too you for a like $100 so that you do not have to pay taxes on it as an income.

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