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Questions & info about the Motor Vehicle Act. Mature discussion only.

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Old 09-10-2013, 10:08 PM   #1
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Regarding Discount Levels and Having Car Insured Under Parents

Hello everyone,

I have a question regarding discount levels for insurance with regards to having a car insured under somebody else's name.

At the moment the vehicle I drive is insured and owned under my parents name since they're at 40% discount range (I pay my parents back whatever it costs to have the car insured and running).

The question I'm asking here is if my discount level will continue to rise year after year of safe driving even though my car isn't owned/insured under my name. If it makes any difference I'm still an N driver and I'll be getting my class 5 sometime later this year. If somebody could give me some clarification I greatly appreciate it.

Thanks in advance!
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Old 09-10-2013, 10:12 PM   #2
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Yeah your discount will still go up by 5% each year with a valid license.

Problem? You get into an accident, ICBC will look if that car is truly yours. If it's a $$$$ accident, they might even put an investigator on you to see your daily routine.

And like you stated, you are the primary driver, although your parents are llisted, ICBC will void the insurance and you will be on the hook for the $$$$$$$$.

Not worth it at all, unless you are 100% you will never be in a severe accident. ICBC isn't dumb, they have encountered these situations a lot of times. So either cough up the extra $$ to put it under your name, or drive very very cautiously.
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Old 09-10-2013, 10:44 PM   #3
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Yeah your discount will still go up by 5% each year with a valid license.

Problem? You get into an accident, ICBC will look if that car is truly yours. If it's a $$$$ accident, they might even put an investigator on you to see your daily routine.

And like you stated, you are the primary driver, although your parents are llisted, ICBC will void the insurance and you will be on the hook for the $$$$$$$$.

Not worth it at all, unless you are 100% you will never be in a severe accident. ICBC isn't dumb, they have encountered these situations a lot of times. So either cough up the extra $$ to put it under your name, or drive very very cautiously.
Exactly what he said. Believe me it is not worth it. Had an issue where we forgot to take off the 10 year+ driver experience stipulation(any/all drivers must have been driving for at least 10 years to operate the vehicle) from my moms insurance and I drove the car that one day with my N, and got into a bad accident(car was totaled). ICBC voided our insurance. Fortunately in the end they agreed to reinstate it because I had my own vehicle under my own name at the time, but increased my insurance by a 40% surcharge due to the at fault incident. We also had to pay a penalty of around $2000.

So please check over your parents insurance and make sure that 10+ year driver clause is not on their insurance, if it is, stop driving immediately.

I know a few people that do what you are doing and I understand why, its cheaper by a lot, but in my experience it is not worth it when shit hits the fan, and remember, you never know when it will hit the fan.

Also the 5% discount per year starts from when you get your Learners

http://www.icbc.com/autoplan/insure-teen
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Old 09-11-2013, 01:11 AM   #4
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Thanks again for the thorough answers guys, I greatly appreciate it

I'll check things over with my parents and I'll get things sorted out before anything bad happens!
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Old 09-11-2013, 01:16 AM   #5
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Exactly what he said. Believe me it is not worth it. Had an issue where we forgot to take off the 10 year+ driver experience stipulation(any/all drivers must have been driving for at least 10 years to operate the vehicle) from my moms insurance and I drove the car that one day with my N, and got into a bad accident(car was totaled). ICBC voided our insurance. Fortunately in the end they agreed to reinstate it because I had my own vehicle under my own name at the time, but increased my insurance by a 40% surcharge due to the at fault incident. We also had to pay a penalty of around $2000.

So please check over your parents insurance and make sure that 10+ year driver clause is not on their insurance, if it is, stop driving immediately.

I know a few people that do what you are doing and I understand why, its cheaper by a lot, but in my experience it is not worth it when shit hits the fan, and remember, you never know when it will hit the fan.

Also the 5% discount per year starts from when you get your Learners

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Old 09-11-2013, 07:34 AM   #6
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I've seen a newspaper article concerning a father who insured his son's car under the father's name for the same reaasons you are doing. After a crash resulted from the inexperienced son's driving ICBC found out & took him to court. I believe the civil court judgement against the father was $80,000 plus court costs plus repayment of the crash costs. The father could also be charged for masking false statements on the policy where he says that he, and not the son, is the primary driver.

There is a reason insurance companies charge higher rates for all new drivers...they are a higher risk. Private companies are way more expensive than ICBC for new drivers..I know of one under 25 in Alberta who pays about $500 a month for his truck insurance

When I came across cars registered in a parent's name, that obviously was being driven by the younger, inexperienced driver, I informed ICBC special investigations of what I saw & they investigated. I know of 3 claims they denied and in one case they cancelled the regsitrations of all vehicles "owned" by the parent. In this case the 2 sons were flipping and curbsiding cars on a regular basis. Their driving records were horrendous, even by RS standards & they drove like idiots everywhere. They later went into the JDM import car business until they went out of business. Some here may have done business with them as I have seen their business name mentioned on line by dissatisfied customers.

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Old 09-11-2013, 09:37 AM   #7
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iirc. There is a middle ground to this where you can enlist as a secondary driver and pay a discounted price of around 20-25%
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Old 09-11-2013, 10:58 AM   #8
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That 10 year driving restriction only counts if you live in the same household, if you live somewhere else go for it :P

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Experience pays off. If everyone in your household who drives your vehicle has 10 or more years driving experience, you could be eligible for savings.
The vehicle needs to be at base rate or lower on the claim-rated scale (in other words, you aren't paying a surcharge). And if your driver's licence has been suspended, prohibited, expired or cancelled for any continuous period of a year or more, that time wouldn't count towards your driving experience.
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Old 09-11-2013, 09:10 PM   #9
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iirc. There is a middle ground to this where you can enlist as a secondary driver and pay a discounted price of around 20-25%
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At the current time, there is only one listed driver for the vehicle. The Principal Operator (PO).

If you are going to be driving the vehicle more than 50% of the time, then you should be listed as the PO and the discount / surcharge that is applied to the policy will be the one that belongs to the PO.
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Old 09-11-2013, 11:40 PM   #10
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The car can be insured and owned by someone different than the PO..
for example.. I can own the car and pay the insurance under my name BUT the PO is listed as my brother.. That can happen and iirc I think there is still SOME discount but not as much as if I was listed as the PO..
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Old 09-12-2013, 04:44 PM   #11
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have a question, i got into an accident in my car (under my name but primary was my mom, who has a roadstar discount) 5 years ago in high school. icbc tells me that the accident won't affect my discount but will just slightly increase my mom's rates. 2 years later when i changed the primary driver back under my name, i was told that i only had a 5 percent discount because the car was in an accident previously. now, i should be at approx 30-35 percent discount if the discount rate increases by 5% increments per year. also, the accident affected my moms rate since it was under her name during the time i was in the accident. just wondering if you guys know what happened to my discount? i asked the insurance brokers and they just shrugged.
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Old 09-12-2013, 05:06 PM   #12
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The car can be insured and owned by someone different than the PO..
for example.. I can own the car and pay the insurance under my name BUT the PO is listed as my brother.. That can happen and iirc I think there is still SOME discount but not as much as if I was listed as the PO..
No, there is no difference.
The discount / surcharge applied to the policy is based on the Driving history of the PO. It does not matter who the RO is as the premium is based on the risk of whoever is listed as main driver.
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Old 09-12-2013, 05:08 PM   #13
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have a question, i got into an accident in my car (under my name but primary was my mom, who has a roadstar discount) 5 years ago in high school. icbc tells me that the accident won't affect my discount but will just slightly increase my mom's rates. 2 years later when i changed the primary driver back under my name, i was told that i only had a 5 percent discount because the car was in an accident previously. now, i should be at approx 30-35 percent discount if the discount rate increases by 5% increments per year. also, the accident affected my moms rate since it was under her name during the time i was in the accident. just wondering if you guys know what happened to my discount? i asked the insurance brokers and they just shrugged.
Don't ask the Brokers, they won't have the detailed information that ICBC Customer Service has.

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Old 09-12-2013, 09:10 PM   #14
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No mean to thread jack, but does anyone understand exactly how the Claim Rated Scale (CRS aka discount rate) actually works between the PO and the owner (insurer)? Furthermore, if you get into an at fault accident, how does it affect the person driving at the time (in this case the PO) as well as the insurer?

I was under the impression that only the owner gets dinged on the CRS, while the person driving only gets a record for an increased premium, but it does not affect their CRS. Can anyone confirm?
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Old 09-13-2013, 05:59 PM   #15
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No mean to thread jack, but does anyone understand exactly how the Claim Rated Scale (CRS aka discount rate) actually works between the PO and the owner (insurer)? Furthermore, if you get into an at fault accident, how does it affect the person driving at the time (in this case the PO) as well as the insurer?

I was under the impression that only the owner gets dinged on the CRS, while the person driving only gets a record for an increased premium, but it does not affect their CRS. Can anyone confirm?
Lend your car, lend your insurance.

So yes, the owner get's dinged - the driver won't get anything. I think you're confusing getting into an at-fault accident versus ticket/violations. The ticket/violation will always go to the driver/D.penalty.premium (if you go over). Unless it's a red light camera, just a ticket to the owner of the vehicle, nothing else.
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Old 09-13-2013, 10:54 PM   #16
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The at fault claim can either follow the driver at the time of the claim or the owner. If that plate is still active, then it will affect that plate. If the plate is cancelled, whomever takes out the first plate will get hit with the claim.
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Old 09-14-2013, 12:12 AM   #17
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If the claim goes to the owner, and due to circumstances the owner won't need a vehicle for the next few years; will that person's insurance CRS stay at the after-claim immediate level the next time the owner insures a car? (let's say he didn't need a vehicle for 5 years after the incident)
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Old 09-14-2013, 01:35 AM   #18
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^
If the claim goes to the owner, and due to circumstances the owner won't need a vehicle for the next few years; will that person's insurance CRS stay at the after-claim immediate level the next time the owner insures a car? (let's say he didn't need a vehicle for 5 years after the incident)

Pretty sure that it stays the same until the owner insures again; however, the owner can still get a discount if they give their License to ICBC, per year thing.
To put it simple, ICBC pay educated individuals to look at this from all the angles. If it was so easy, everyone would be using their parents insurance to eliminate the CRS premiums, crappy % discount, yadadada.

The only thing here is changing your license plates to avoid the impound lot when you rack up tickets at diamond/impark lots.
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Old 09-15-2013, 10:16 PM   #19
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given that you're from the island... this importer didn't start with a T did it? lol
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Old 09-16-2013, 05:54 PM   #20
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To put it simple, ICBC pay educated individuals to look at this from all the angles. If it was so easy, everyone would be using their parents insurance to eliminate the CRS premiums, crappy % discount, yadadada.
I'm one of those people that deals with people that try to cheat their insurance. Don't fuck around with your insurance. It's not worth it, and you'll probably be caught and have your insurance voided if there's an accident.
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Old 09-16-2013, 10:10 PM   #21
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Kinda off topic question... if you borrow your parents vehicle and get into a crash, there's no "problem" with you driving it, right? As long as the under 10yrs exp. is on? Just double checking haha.
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Old 09-16-2013, 11:55 PM   #22
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Kinda off topic question... if you borrow your parents vehicle and get into a crash, there's no "problem" with you driving it, right? As long as the under 10yrs exp. is on? Just double checking haha.
If ur parents car has the 10yrs experience on, then anyone with less than 10yrs experience cannot drive it whatsoever if they live in the same household. If they dont live at ur parents then its ok.
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Old 09-22-2013, 01:35 PM   #23
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The car can be insured and owned by someone different than the PO..
for example.. I can own the car and pay the insurance under my name BUT the PO is listed as my brother.. That can happen and iirc I think there is still SOME discount but not as much as if I was listed as the PO..
This is true. When my son got a job that he had to drive to (he has his N currently) he started using my CR-V; I looked at transferring it to his name, but it was actually cheaper to leave it in my name and just list him as the PO. Not much cheaper, but hey, every little bit counts.

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In this case the 2 sons were flipping and curbsiding cars on a regular basis. Their driving records were horrendous, even by RS standards & they drove like idiots everywhere.
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Old 09-22-2013, 04:17 PM   #24
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Yah...I know I took a chance right there with that statement....
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Old 09-23-2013, 02:25 PM   #25
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No mean to thread jack, but does anyone understand exactly how the Claim Rated Scale (CRS aka discount rate) actually works between the PO and the owner (insurer)? Furthermore, if you get into an at fault accident, how does it affect the person driving at the time (in this case the PO) as well as the insurer?

I was under the impression that only the owner gets dinged on the CRS, while the person driving only gets a record for an increased premium, but it does not affect their CRS. Can anyone confirm?
the accident stays around for 3 years after the payout date. For example, if you borrow your parents car and it's insured under their name and they are listed as principal operators, and you get into an at fault accident, the accident will attach itself to that plate. You have a year from the date of payment on the accident to pay ICBC back for the accident if you don't want it to affect your rates. If, within 3 years, that plate gets cancelled or doesn't get renewed, the accident will "hang" in the system, until either you, the driver, or your parents take out a new plate. Then the accident will attach itself to that plate. This will keep happening for the next 3 years.

So, when people say that if you lend your car to someone and they get in a crash, and you will be stuck with the at fault accident, they are wrong. If you cancel your insurance and the driver takes out a new plate, the accident will go on his/her insurance, not yours.
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