I just bought an extremely nice 86 GT that I will use as my daily driver. I'm trying to figure out the best way to handle insurance. Our big problem is there is a 16 year old driver in the house. He is my stepson and my wife wonders if I could get a separate policy just for me and my car through another company to keep from making the teenager a primary driver on one of the other cars. I'm worried this may be borderline (or completely across the border) legal. I don't want to gamble with my family and coverage. I also don't want to pay more than I have to.

Anyone know of any good loopholes?

Jonathan

"legal" is not really a matter here... it just comes down to how much you want to lie. When you buy insurance you tell them who is driving... if you lie its your own thing and although the insurance company could come after you legally it would probably not be ideal for them. Most insurance companies do an "undisclosed driver search" using multiple references, and may just add on the youthful at any time.

Best thing you can do loophole wise is shop around, and pressure agents to give you all of the discounts they can.

Back after I lost my license for some youthful indiscretions, my mom's insurance company (State Farm) had me sign a driver exclusion form that stated that I was not allowed to ever drive the vehicle. In the event I did, their coverage on the vehicle would be nullified. This allowed her insurance to not go up while I was kicked off State Farm and went with another insurance provider for 4 years of high risk coverage.

You might check with your insurance company about their "Driver Exclusion Policy".

When i got my 95 camaro z28, I was still on my dads policy, he registered me as the driver of our Saturn we had. and that i would "occasionally" drive the camaro. but I was the only one that ever drove it. every single day... but if your son does crash, make sure you/he say he was just runnin an errand or something.

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87 SE. Cat delete, eibachs, aftermarket front swaybar, cone filter. short throw. 3.4 inc

quote Originally posted by Puffpufpass: When i got my 95 camaro z28, I was still on my dads policy, he registered me as the driver of our Saturn we had. and that i would "occasionally" drive the camaro. but I was the only one that ever drove it. every single day... but if your son does crash, make sure you/he say he was just runnin an errand or something.

Same story here. Got my license, a year later I bought my Fiero. Since then I've had 2 reported accidents (only 1 serious where I had to open a health claim and all that crap) and an additional 2 cars that I've owned through Geico registered and insured under my brothers name. He couldn't even drive 2 of them because they are/were 5/6 speed lol. So when I had my accident I just made sure to say I just borrowed it. All they asked him was if I had permission to use it, I'm not even a listed driver in the household and we have 3 cars between us. All of my cars have been daily's and I insure them based on doing 5k a year and them only being used for pleasure LOL.

Lie as much as you can while you can get away with it.

We have 3 drivers and now we're going to have 3 cars. No matter what, the teenager is going to have to be listed as a primary driver for one of the cars. Even with him listed as primary on the cheapest, I'm still looking at $97 extra per MONTH if I get full coverage on the new Fiero.

I'll probably just add the car to my existing Allstate policy to get the multi-discount. They don't do driver restrictions or discounts for Driver's Ed. They do give a good student discount for a GPA of 3.0 or better. Unfortunately, we won't be getting that one.

I guess I'll go with comprehensive and liability only for now. I can always bump the coverage up when income improves.

Jonathan

quote Originally posted by Boostdreamer: I'm still looking at $97 extra per MONTH if I get full coverage on the new Fiero.

Buy him a bicycle.. Problem solved.. lol..

once he has a lic to drive, you hae to put him on..
if you don't and he drives and anything happens, you can loose your house.. not worth it..

quote Originally posted by nitroheadz28: Same story here.

Pretty much the same for me also. I drove the 85 Chrysler LeBaron all the time but was listed as primary driver of the 70 something Chevy Luv pickup.

I just turned 18, had my Fiero since 16.... like $2600 a year I think

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86 Fiero GTX project now tearing up the street, My build thread! 3800sc, interior, wheels, suspension and more! https://www.fiero.nl/forum/Forum1/HTML/089483.html

quote Originally posted by IanT720: I just turned 18, had my Fiero since 16.... like $2600 a year I think

Good grief... I pay nearly that for two cars, one full coverage and the other liability/comp. One will push 160 and I have a ticket and a $7 grand comp claim on my record

Being young sucks - I wouldn't have even tried to get good coverage on my car at 16, just liability was $850/6 months on my Fiero.

Wow $2600 a year is insane... When I tried to buy a Trans Am as my first car, I was quoted at $2300/ year as an 18 year old and thats in NYC?

I'd never pay that much for insurance though. I pay $980/ year on an LT1 6 speed trans am now thats in my 28 year old brother's name. Win.

In 1987 I paid 1,500 dollars a year. I was 30 yrs old, I lived in n.j., Now I am 56 and pay 504.00 a year I still drive a 1987 but live in FL.

Lol that is basic coverage... Counts as a sports car according to AAA, my 85 Trans am was a couple hundred dollars cheaper... Good thing they don't know about my 3800sc

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86 Fiero GTX project now tearing up the street, My build thread! 3800sc, interior, wheels, suspension and more! https://www.fiero.nl/forum/Forum1/HTML/089483.html

The wierd thing is that insurance is cheaper with my step-son listed as the primary driver on his (he picked it) Buick Park Avenue 3800na than on a stock 2.6 140 hp Fiero.

What we need is for a company to come out with "Enthusiast" insurance. Some kind of hybrid between classic car insurance with all its restrictions and normal full coverage with the uncertainty of assigned value at the time of an accident.

I think I'll pitch that to a few companies! If I get any responses, I'll let you all know.

Jonathan

quote Originally posted by Boostdreamer: The wierd thing is that insurance is cheaper with my step-son listed as the primary driver on his (he picked it) Buick Park Avenue 3800na than on a stock 2.6 140 hp Fiero. What we need is for a company to come out with "Enthusiast" insurance. Some kind of hybrid between classic car insurance with all its restrictions and normal full coverage with the uncertainty of assigned value at the time of an accident. I think I'll pitch that to a few companies! If I get any responses, I'll let you all know. Jonathan

I think Grundy does agreed value insurance on daily drivers.

Yeah the Buick is cheaper mostlikley because it has 4 doors.
Less of a "sports" car?

Is there a car that will be considered your stepsons car? If so, have him get HIS own insurance policy with that car on his policy.

When I first bought my Fiero I was 15, and was almost going to have to sell it because of how much just liability was going to cost. All of the insurance companies in my area classified it as a "high risk sports car." We shopped around all the different agents and even with my dad as primary driver and no one under 18 allowed to drive the Fiero it was going to cost something crazy like $1800 every six months apparently because the area that we live in. I signed the car over to my brother who was in college at the time and he plated it in another county and I believe it cost me like $350 every 6 monthes. Then when I moved away for college I had the car in my name with my dorm address listed as my primary address. Probably wasn't the most legal thing to do.

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quote Originally posted by 2.5: I think Grundy does agreed value insurance on daily drivers.

That would be perfect. I'll check with them!

Thanks,

Jonathan

I daily drive my fiero under my moms insurance. 75$ a year extra. I'm not even listed as a driver. But anyone who drives her cars is covered. Your suppost to add people who daily drive but its not worth the 4Grand increase. Yes I was quoted 4,000$ a year to be added.

quote Originally posted by Phirewire: I daily drive my fiero under my moms insurance. 75$ a year extra. I'm not even listed as a driver. But anyone who drives her cars is covered. Your suppost to add people who daily drive but its not worth the 4Grand increase. Yes I was quoted 4,000$ a year to be added.

Exactly what I did, registered under my dad n

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86 Fiero GTX project now tearing up the street, My build thread! 3800sc, interior, wheels, suspension and more! https://www.fiero.nl/forum/Forum1/HTML/089483.html

So for you young guys using other family member's policies; how many drivers and vehicles are in your household and how many drivers and vehicles are in the other family's household?

It sounds like you're getting a break because there are more drivers than vehicles.

That's what my problem has become, adding a car means that there are the same number of cars and drivers so EVERYONE has to be listed as a primary driver on one of the cars. The teenager's insurance is much higher now that he's moved into Primary Driver status. Before that, he could drive any of the cars and be insured under us but now the insurance companies see him as having much more access to driving.

Jonathan

Is your new Fiero a 5 speed? Because if it is, you can definitely have that listed as a "weekend fun car" and then have the other two cars listed as daily drivers.

I have my Mazda (6 speed manual) insured as a sunny day cruiser while my Vic is pegged for daily driver status. Even with that, the "exotic nature" of the weekender ends up eating the majority of my bill.

I have 5 cars including theFiero. My insurance cost $90.00 per month for 4 of them with Auto-owners Ins. The Fiero in insured with Haggerty as collector car ins. But liability and comp only on the daily drivers. No accidents or tickets.

The new Fiero is an Auto. I'm not sure if Allstate has a "weekend driver" clause. Prolly not.

Jonathan

quote Originally posted by Boostdreamer: So for you young guys using other family member's policies; how many drivers and vehicles are in your household and how many drivers and vehicles are in the other family's household? It sounds like you're getting a break because there are more drivers than vehicles. That's what my problem has become, adding a car means that there are the same number of cars and drivers so EVERYONE has to be listed as a primary driver on one of the cars. The teenager's insurance is much higher now that he's moved into Primary Driver status. Before that, he could drive any of the cars and be insured under us but now the insurance companies see him as having much more access to driving. Jonathan

It is me and my mother, we have 2 cars. She asked what it would cost to fully insure me as a daily driver and they quoted her no joke 4 thousand a year, with the car in my name. We went put car in her name and I'm not even on the insurance as a drive rand it cost her 75$ a year extra to have my fiero on her insurance. And I am still covered as is anyone who sits in the driver seat of her cars. Easy for me, better for me. 4 thousand a year is horrible my car wasn't even that much and considering thats basic insurance and wouldn't cover squat if there was a problem.

Check with Hagerty Insurance. I have my fiero with them as a collector car. The rate is real low and they are very helpful.
There are some restrictions, such as keeping it in an enclosed garage, but I don't think they have a mileage limit.

We have 4 cars my dads van, moms pt cruiser, and I have my Fiero and Trams am anyway my dad is registered on both of mine and his van and my moms car, no problems at all still way cheaper then insuring me on them!

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86 Fiero GTX project now tearing up the street, My build thread! 3800sc, interior, wheels, suspension and more! https://www.fiero.nl/forum/Forum1/HTML/089483.html

quote Originally posted by IanT720: I just turned 18, had my Fiero since 16.... like $2600 a year I think

When I was 16, I think I paid $740 a year for insurance on the ol' 84'. It wasn't until I bought my Jeep a couple years later for the cost on the Fiero to be cut in half. Even so, both cars are in my name.

[This message has been edited by Mcfleev-O (edited 11-15-2012).]

quote Originally posted by 2.5: I think Grundy does agreed value insurance on daily drivers.

No they don't

I have Grundy and it's only for collector cars driven for pleasure.

But if you do go that route they would make you sign an exclusion not allowing the teenager to drive any car that they insure.

I have three Fieros, a daily driver car a truck and a motorcycle all with full coverage for less than IanT720 is paying for one car. Cheap insurance is one of the few benefits of getting older.

i'm 16 and I payed $ 1860 for a full year of coverage, with fire, theft, etc, but no collision.

I discussed this with my mom yesterday, we came onto the topic and discovered her car cost more to insure than mine.

Which is funny cause everyone assumes my car is deadly.


She drives 1996 Chevy Cavalier 4 Door 4cyl.
Has 2 airbags, basic insurance and she paid 2,000$ for it.

I drive 1986 Pontiac Fiero 2 Door v6.
No airbags, basic insurance, and paid ~2000$ for it.

Hers is x3 times as much as mine and they are the same thing, mines even sportier than hers.

quote Originally posted by Boostdreamer: Anyone know of any good loopholes?

1. Many insurance co. will want any driver in the house listed. Why? Co's are not stupid. They know that any driver can/will borrow etc you car.
2. You are married. Wife and Children can use the car legally in most cases even only 1 name on the title.
3. Saying anything to avoid paying is Insurance Fraud in most states. In many cases Felony crime.

Shop around and Bundle if possible... Bundle house/rental and all cars in one company to save big in many cases.
Use agents and online... Agents may know discounts that online missed.

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Dr. Ian Malcolm: Yeah, but your scientists were so preoccupied with whether or not they could, they didn't stop to think if they should.
(Jurassic Park)

The Ogre's Fiero Cave (It's also at the top and bottom of every forum page...)

quote Originally posted by theogre: 1. Many insurance co. will want any driver in the house listed. Why? Co's are not stupid. They know that any driver can/will borrow etc you car. 2. You are married. Wife and Children can use the car legally in most cases even only 1 name on the title. 3. Saying anything to avoid paying is Insurance Fraud in most states. In many cases Felony crime. Shop around and Bundle if possible... Bundle house/rental and all cars in one company to save big in many cases. Use agents and online... Agents may know discounts that online missed.

OR - you sign a waiver excluding coverage if any of those people are driving. It's a free country, so they grab the keys and drive the car anyway then go out and total someone's Bugatti Veyron. Guess what? you are on the hook to pay for it out of your pocket. So I guarantee you won't be letting that person drive.

Found a solution in this thread:

https://www.fiero.nl/forum/Forum1/HTML/090935.html

Jonathan