Hi guys,
My question is whether I can purchase a car under my name but have my dad as the policy holder for NRMA comprehensive insurance so I save heaps heaps more since im under 25.
Or would NRMA only allow the car owner to be put as the policy holder.
I have tried to google answers but they are all very mixed…..i will also call nrma tomorrow but just wanted to know if anyone has been successful in doing something like this.
It's very hard to prove that you aren't an occasional driver who just happened to be driving the car that day when an accident happens. Drive safely and try not to be at fault if you do get into an accident.
Yes, you can do this - one insurer actually suggested it to me when I was enquiring about insurance for my daughter's car. However, you will need to be noted as a driver or the excess will be enormous.
Yea I am willing to pay the enormous excess if It is my fault if i get into an accident
I will most likely not list me as a driver as it will still bring the price up significantly that it is not justified in my eyes
Plus with NRMA they let anyone drive the car and it will still be covered. Just wanted confirmation before i put the name of the car in my name
This has been asked before and unfortunately if you own the car IE, it is purchased and registered in your name then your parents, friend, uncle etc cannot insure it as they have no insurable interest.
Again you could explore joint names policy with your dad but in the event of a total loss the settlement will be made payable to the policy holder, ie You and your dad so how you cash that without a joint bank account is another issue.
To sleep easy at night take the policy out in your name. list your Dad as a driver and if possible the most frequent driver or driver number 1, cop the first year cost then review it on renewal. All the best.
yea way too many differeing responses
buy car in his name i reckon then
well apparently spoke to dealer and he says I can buy the car in my name but when you rego it just put my dads name.
All you need to do is fill out a form from the RTA which does not require any supporting evidence as to who the car belongs to
Can anyone confirm this?
I have also been hearing that NRMA has increased their prices this year and AAMI is pretty cheap this year, I will get some quotes soon but is anyone with AAMI and are they any good to deal with?
I did that for a few years ages ago, just had my car under my mums name. If I did have an accident, there was an excess surcharge for being under 25, and another for being unlisted, so I'd be up for a $2.5k excess.
Didn't have an at-fault accident to test if there would have been any problems though.
One of the questions asks who will be driving the car. If you don't add yourself, there's a clause which states you'll be liable etc and not covered