Auto Insurance Address Change....

I have a question about car insurance...

The situation is that im only 23 years old and I have two cars under my name and the insurance is under my name too. Meaning im paying a lot of money for insurance. I live in Toronto and I have a friend who lives in Waterloo and insurance in Waterloo is much cheaper than here so I was wondering I could change both car insurance addresses to Waterloo and tell the insurance company that I live there for a year or so for school or work related reasons and that my parents still live in toronto.

1) In order for me to do this would I have to change my Drivers liscence address too or is it fine if just change the insurance only?

2) If I do change both addresses, would I be able to keep my mailing address in Toronto?

You can certainly change your address to Waterloo. But if you get into any accident, be sure you have thousands and thousands of dollars of extra money on hand because the insurance company will not cover you due to insurance fraud. If you injure someone in that accident, I hope you have hundreds of thousands of dollars to pay for their recovery. And I hope you have $10000+/yr left over to pay for insurance from Facility since they are the only ones who would insure you after you got caught for fraud.

why would I have to pay for an accident though, shouldnt the insurance be paying that? Thats the reason there is insurance, they cant prove that I dont sleep over there, because someone does actually live there.

Wouldnt that be the case or em I missing something?

Originally Posted by bloodylankan

why would I have to pay for an accident though, shouldnt the insurance be paying that? Thats the reason there is insurance, they cant prove that I dont sleep over there, because someone does actually live there.

Wouldnt that be the case or em I missing something?

You have to comply with the terms of the insurance if you want them to pay out when you get in an accident!! Insurance has lots of sneaky ways of investigating where you live, your story, etc. Some companies will even investigate your facebook profile.

People who go and try to cheat the system are why the insurance rates are so high for honest people.

Originally Posted by bloodylankan

why would I have to pay for an accident though, shouldnt the insurance be paying that? Thats the reason there is insurance, they cant prove that I dont sleep over there, because someone does actually live there.

Wouldnt that be the case or em I missing something?

Because by lying to them about your address, you committed insurance fraud and your insurance is now invalid.

hmm so the ONLY way I can get in trouble is if I get into an accident and they say that I DONT LIVE there and lied about my address and prove it to me right?

As long as I can manage to make it seem like I live there nothing can go wrong right?

Why not just drive without insurance? You'd have the same coverage and even less expense?

Originally Posted by bloodylankan

hmm so the ONLY way I can get in trouble is if I get into an accident and they say that I DONT LIVE there and lied about my address and prove it to me right?

As long as I can manage to make it seem like I live there nothing can go wrong right?

They could make you give a sworn statement. They cold talk to people you know. They could look at Facebook if you use it. They could track your bank card usage. They could do a lot of thing until they catch you in a lie.

So if you're cool with that risk, make the change!

Originally Posted by spf1971

Why not just drive without insurance? You'd have the same coverage and even less expense?

That is if you don't get pulled over by a cop. If you do, I believe its a $5k fine

Originally Posted by ab20

That is if you don't get pulled over by a cop. If you do, I believe its a $5k fine

but when the insurance company finds out he's lied and cancels his insurance, he still gets the fine.

Not worth the risk. When I moved from London to Toronto, my car insurance went from $120/month to $350/month and I kept my London address on the insurance for a while but then got too paranoid and switched it. There's a reason the standard liability is $1 million because when you severely injure someone, their recovery can get very expensive.

If you get in an accident in Toronto and the costs are up in that range, you can bet your ass the insurance company will investigate it. If they find out you lied about your address, your insurance is invalid and you're potentially stuck with that $1 million bill. Not sure if there is any kind of government protection if that were to happen but assuming there isn't, you're pretty much financially ruined for a long long time which can probably ruin your life. Not worth it.

Insurance companies aren't stupid. They know people do this all the time and if you never have an accident they won't really care. They will gladly accept your monthly payments all the same. They know once you have an accident and they investigate and they find out you lied, there goes you coverage. So now they have all your premiums you've paid for and don't have to pay anything. Win Win for them.

Plus say you are working in Toronto and you are injured. I guess you aren't going to be claiming lost wages b/c they are going to need to know where you are working.

OK..I think you guys convinced me that I'm not going through with this plan and imma just suck it up and pay all the extra money, however I got another question.

Im going to have two cars under my name would it be possible to have me listed as the primary driver for both cars while living at home with my parents and brother even though they have a drivers liscence, but I dont want to add them onto the cars as it increases the insurance rate also, but my brother will be driving one of the cars.

No that's not possible either. On the application you are required to disclose any other licensed drivers in the household. If you want both cars in your name then you would need the other drivers to sign a declaration that they will never drive the cars. And obviously they won't have any coverage should they break that promise.

Not sure if you understand how insurance works. The premiums you pay are supposed to reflect the risk that you will make a claim in the future. The money for that potential claim comes from the other policyholders who didn't have a claim.

By trying to cheat and lower your premiums you are basically asking the rest of us to pay more for insurance because you don't feel like paying your fair share. You think any discount you get is going to come from the insurer's pockets? So you're unlikely to get much help or sympathy.

hmm sorry let me repraise my questions..it came out the wrong way..

Can I be the primary driver for both cars? and add my brother as a 2nd driver for the 2nd car?

the reason i didnt want to add them was because someone told me you cant be the primary driver for both cars, so yhe