Overhaulin'

Car Insurance - Can a car be insured by more than one company; with different drivers.?

Got my license and car insurance is going to sky rocket (under 18), got some free quotes and it would be cheaper if i just got my own insurance... wondering if the above is possible.

Public Comments

1. No & No. You cannot insure one vehicle on more than one policy. There is a checking system in place that will check the VIN for duplication.
2. yes you can. what do you think happens when you change companies but dont want a lapse in coverage. you have 2 policies at once. no problem. if you own the car it doesnt matter.
3. No it is against the code of practice for insurers. Technically more then one insurer could underrate the potential loss, but each would share proportionally in the risk. Thus if 25 insurers insured the car, and a claim occurred they would each be liable to pay out 1/25th of the loss.
4. Yes it can. I am an insurance agent. Just remeber only one person can register the car, that person that registers the car is going to have the correct insurance. You might want to make sure you are on your parents policy or someone else's policy, after you are on someones policy for 6-months you get a discount for prior insurance. Any other questions let me know. and also if you change insurance companies you don't need to have the car insured on both policies, I know in NY all policies are effective at 12:01 AM. Also I know in NY that as long as you have plates out you have to keep the insurance. I know if you sell a car and keep the plates for a couple of days or weeks or months you need to keep the insurance on them.
5. Yes it can be insured with two companies, however you have to read the contracts to determine what will happen if there is concurrent coverage and an accident occurs. Some policies allow for a pro-rata payment. However if you don't own the vehicle you cannot insure it under your name. There is no insurable interests. Other policies may not provide coverage under certain circumstances. So you really need to know what the policy contract states.