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Insult_with_respect | My father let his insurance go dead and had to turn in his tags.? |
He now wants to put the car and insurance in my name. I already have insurance with geico! Will this work and if so what are the dangers of doing this? Thanks
Additional Details
We live in NC. He said something another about it would be cheaper to do it this way. I am kinda weary but he's my father and right now he has my car that I allowed him to borrow. I just dont know what to do. |
 |
 
Tori
|
He is doing this to avoid the penalties the DMV charges for having a lapse in coverage....the fine is $50 if he's had a lapse of less than 30 days.
If he's had no insurance for over 30 days - they want to "HOLD" his tags for 30 days and fine him about $100. - so he's avoiding not being able to drive AT ALL for 30 days probably.
It's done all the time - but the license plate he has will have to be turned IN...and he'll have to "sell" it to you - even if no $ is exchanged and get the title in your name to get new tags in your name...
and - on the insurance side - you have the right to loan your vehicles on your policy to ANYone...but if he ever has an accident in one of your vehicles, your insurance company will surely add your Dad as a driver along with his points - if he has any |
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necarg1
 |
Where do you live that you have to turn in tags to a vehicle just because you have no insurance. |
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65% water
|
I wouldn't do it. Something doesn't sound right to me. Why can't he just get new insurance? And if he can't get insurance for some reason, why are you letting him drive your car? I'd be "weary" of this situation too. You need to figure out what's really going on with him. |
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james m
|
Most states have mandatory auto insurance laws. In order to get a car licensed, it must have the minimum limits of liability and unisured motorists coverage.
The insurance companies notify the State Department of Motor Vehicles when someone cancels, or allows to cancel, their auto insurance. In my state, when you cancel, you are required by law to send your license plate in to the DMV. One can also be fined, and the driver's license suspended, if he or she doesn't abide by that law.
Since your father allowed his car insurance to cancel, the state has a right to confiscate the license plate, to make sure that vehicle will not be driven on public roads while uninsured.
I don't know why your father wants to put the car in your name and add it to your insurance. It's not going to save him money, if he is still going to drive it, unless he was on non-standard insurance. It could cause you a problem, if he is driving and has an accident. It will go against your policy, and you could get sued, since the vehicle is in your name.
Since he allowed his policy to cancel, he will probably have to go on a non-standard policy, if it's been cancelled for 30 days or more.
By the way... how is your father's driving record? If he has a less than perfect driving record, it could cause your premiums to increase, if he is on your policy.
I'd think twice before I did it. |
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Rick B
 |
Why can't he simply get insurance again? Why does it need to be in your name?
I would not do it. If there is a problem (financial or a bad wreck) you may be responsible in some way. |
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mbrcatz
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Well, if the car is paid off, he signs the title over to you, you register it, and add it to your geico policy, AND add your father as driver. But if he has an accident in excess of policy limits, YOU the vehicle OWNER can be held responsible for damages.
So that's the big danger.
But if he has a loan on it, you can't do it. |
|
es
 |
You have a problem. If you don't do it, your Dad will be mad at you. If you do it, you may be taking on a financial burden you are not ready for. What is your father hiding from, that he wants you to carry his insurance, and wants to title the car in your name? Is the car free and clear of liens, or is he paying it off with a lender? There is a lot of missing information here. It's hard to give you a comprehensive answer, except...
sounds like a liability you don't need! |
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