When happens when you crash somebody else's bike?

[northbiker]

Lets say it was insured under your cousins name and also owned by him. And one day you go for a joyride and end up crashing it. Will the insurance company pay up?

[FiReSTaRT]

If you had his permission and a valid license, then yeah. Hower, if you took it out without asking him or he just doesn't wanna put in a claim, you'll have to pay up.

[northbiker]

is it possible to finance a bike under my cousins name who is 25. since the insurance will be cheap and I just ride it?

what are the downsides to it?

[rukus]

he would have to have a valid bike license.
the bike would have to be in his name.
plus if you crash it you screw his insurance record.

oh, and it could fall under a little thing called misrepresentation.

[menglor]

he would have to have a valid bike license.
the bike would have to be in his name.
plus if you crash it you screw his insurance record.

oh, and it could fall under a little thing called misrepresentation.

not to mention illegal

And any speeding ticket, or accidents you get into, affects him.


My broker went out of his way to ask if anyone else was going to be ridding the bike. So your going to be making him lie.

also, if your buying a bike and financing it, its going to tie up his credit, and on the odd chance you dont pay, you affect his credit.

[SteveT]

Bill203

[northbiker]

why would speeding tickets affect him?

[bruzer_boy]

why would speeding tickets affect him?

they dont.

[northbiker]

so basically, the only downside is that If I crash the bike, my cousin is screwed or I forget to make some payments he is screwed!

not a very big risk since I will be saving over $3000 a year!

[klr_guy]

So you're looking for your cousin to finance the bike, insure the bike, but only you'll ride it.

You should clarify if you're looking for downsides for him or for you.

[DaveP]

So you're looking for your cousin to finance the bike, insure the bike, but only you'll ride it.

You should clarify if you're looking for downsides for him or for you.

Well put! Plus you won't be building any history with an insurance broker, so when you finally start paying insurance for yourself i'd be like starting from scratch minus the age factor.

[Avi Singh]

so basically, the only downside is that If I crash the bike, my cousin is screwed or I forget to make some payments he is screwed!

not a very big risk since I will be saving over $3000 a year!

Both you and your cousin will both feel the ramifications of an accident. Section 5 of the auto insurance application asks for "details of all accidents or claims arising from the ownership, use or operation of any automobile.... during the last six years."

He owns it, you were using it. Both of your insurance records will be affected. Furthermore the application asks "is the applicant both the registered owner AND the actual owner of the described automobiles?"

You are not saving any money by doing this. What you're doing is buying a very expensive piece of pink paper, but also any claim you make will most likely be declined. I suggest you purchase a bike that you can afford to ride and leave your cousin out of the equation.

[murf]

so basically, the only downside is that If I crash the bike, my cousin is screwed or I forget to make some payments he is screwed!

not a very big risk since I will be saving over $3000 a year!

Chances of you crashing are very high if you are a newbie......I'm gonna say at least 50%

[TheGradyTrain]

Lets say it was insured under your cousins name and also owned by him. And one day you go for a joyride and end up crashing it. Will the insurance company pay up?

Best piece of advice. Buy your own policy. The headaches associated to crashing someone else's bike are not worth your short term savings if any.

In my case. The insurance company finally paid out after a four month battle. Much to the credit of my broker and also to my Crash buddy who wanted to put this all behind him and move forward.

[menglor]

why would speeding tickets affect him?

ya my bad, was thinking parking tickets. but the brain made a leap to speeding tickets.

[Platinum Cycle]

One more downside, when you kill your passenger, or some other motorist, your cousin may get sued and have to pay any judgment.

If your cousin is Bill Gates this shouldn't be a concern.

[northbiker]

Both you and your cousin will both feel the ramifications of an accident. Section 5 of the auto insurance application asks for "details of all accidents or claims arising from the ownership, use or operation of any automobile.... during the last six years."

He owns it, you were using it. Both of your insurance records will be affected. Furthermore the application asks "is the applicant both the registered owner AND the actual owner of the described automobiles?"

You are not saving any money by doing this. What you're doing is buying a very expensive piece of pink paper, but also any claim you make will most likely be declined. I suggest you purchase a bike that you can afford to ride and leave your cousin out of the equation.

Since, I am 21 and he is 25. Will it be any cheaper If I add myself as a second rider to that bike? Full Coverage!

[Avi Singh]

Since, I am 21 and he is 25. Will it be any cheaper If I add myself as a second rider to that bike? Full Coverage!

That's difficult to say without reviewing the situation fully. Generally speaking though, I would have to say probably not. Bikes are usually rated with the highest rated person. Meaning, they would rate the bike with you as principal and with him as principal and whichever way generates the highest premium is the way they'll go.

Avi

[Katatonic]

Since, I am 21 and he is 25. Will it be any cheaper If I add myself as a second rider to that bike? Full Coverage!

Listen to his advice and get a smaller bike that will be cheaper to insure. If you want to save money, then go for just liability, not full coverage. If you want to save a lot of money, stay away from ss bikes and maybe try a sport touring as a first. I've got a sport touring (Katana) and pay $42 per month.
There are a lot of ways to save money legally instead of potentially screwing your cousin.

[adri]

Both you and your cousin will both feel the ramifications of an accident. Section 5 of the auto insurance application asks for "details of all accidents or claims arising from the ownership, use or operation of any automobile.... during the last six years."

He owns it, you were using it. Both of your insurance records will be affected. Furthermore the application asks "is the applicant both the registered owner AND the actual owner of the described automobiles?"

You are not saving any money by doing this. What you're doing is buying a very expensive piece of pink paper, but also any claim you make will most likely be declined. I suggest you purchase a bike that you can afford to ride and leave your cousin out of the equation.

Listen to Avi. This is a great guy, he knows his stuff, is really patient and clear in his explinations and asks nothing in return.

Moreover, you should totally go for the smaller bike. Many of them are much easier to maneuver and more forgiving. The value isn't as high, so when you make the inevitable noobie-mistake, any damage done won't cost you much (and any accident you can get up and walk away from is fine).

Started ridding at 19, when I'm 20 I'll be saving about $500 on my insurance simply for having been on the road for one year. I was glad to see this drop in my expenses despite the fact I'm younger then you are.