Where do you live
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Loophole or scam?
- Thread starter waqeezy
- Start date
Staubig
New member
Wayne county, Ohio, USA
Figured US
Staubig
New member
Don't be upset. It just means your lives are worth more than us here in the states lol
msatrakkoic
Well-known member
You guys kill me!!
Insurance is a scam in itself...
And youre allowed to be an occasional rider. That is not fraud.
PLau
Well-known member
Hi Carlos,
I don't know if you know this, but last year, an insurance broker from CSIB actually suggested and recommended that riders do exactly what OP is thinking of doing on GTAM (Get their parents to get a license and insure them as primary).
I wouldn't call what hes asking pathetic as I'm sure the rider's friends are doing the same as well if that's they suggested.
The OP was asking a question to see if this was legal or not and got his answer. Whether he listens to what he was told is his own decision - even if it's the wrong one.
Don't get me wrong, I'm not saying CSIB as a whole was bad, as I was insured with you guys at one point. It's just that people that aren't educated in the field of insurance don't know.
Side note: The user seems to have disappeared and posts have been cleaned up. Though there are some posts referencing those suggestions floating around.
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PLau
Well-known member
You guys kill me!!
Insurance is a scam in itself...
And youre allowed to be an occasional rider. That is not fraud.
Yes, you're allowed to be an occasional rider. Now if you were the primary rider, which is what the OP was referring to... That would be fraud.
But but but... I need to be with the cool kids & I won't be accepted with the cool crowd if I ride a lawn mower.
Imagine me pulling up to Timmies in my 250....ohhh the horror
Keep in mind that if the mother is listed as the owner and sonny boy gets in a wreck it's mommy who is seen as the scam artist. She applied for insurance as its her bike. She lied.
Mommy gets hosed for insurance for the rest of her life.
Does mommy own a house? Bye bye house if it gets really nasty.
Mods: Can we please get a sticky "Registering a bike in someone else's name to save on insurance"?
Mommy gets hosed for insurance for the rest of her life.
Does mommy own a house? Bye bye house if it gets really nasty.
Mods: Can we please get a sticky "Registering a bike in someone else's name to save on insurance"?
Riceburner
Well-known member
Even as an occasional driver, the ins. would reflect that in it's premium.
msatrakkoic
Well-known member
Im baffled by the naiveness of you guys....
On a positive note, ive learned to really take advice on this forum with a grain of salt..and all thanks to this thread
You can check with a broker and do it legally.
But that rates would be based on two riders for one bike. A primary and occasional.
They would also likely underwrite the policy with the highest risk rider as the primary, regardless of who owns the bike. The insurance company looks at licensed operators in the household.
You might save a few bucks but the affects to the mother/parent insurance if either rider has an insurance claim can linger for years.
The insurance company will also likely ask for proof the M1 operator obtained their M2 or cancel the policy or just insure it based on the other operator. Premium jumps up. Don't pay? Cancelled.
Most brokers or insurance companies will likely discourage going about this approach. They have done it and you can bet some folks have experienced the down side. It's not worth it to go ahead, even if it's done legally.
Insurance rates suck. But try and work the system and you will get burned.
But that rates would be based on two riders for one bike. A primary and occasional.
They would also likely underwrite the policy with the highest risk rider as the primary, regardless of who owns the bike. The insurance company looks at licensed operators in the household.
You might save a few bucks but the affects to the mother/parent insurance if either rider has an insurance claim can linger for years.
The insurance company will also likely ask for proof the M1 operator obtained their M2 or cancel the policy or just insure it based on the other operator. Premium jumps up. Don't pay? Cancelled.
Most brokers or insurance companies will likely discourage going about this approach. They have done it and you can bet some folks have experienced the down side. It's not worth it to go ahead, even if it's done legally.
Insurance rates suck. But try and work the system and you will get burned.
and that probably means they think about the consequences of their actions. Things like them not endangering their parents assets.
The OP has some communication issues so some of what he posted may be misleading but....
"MAKE my mom get her M-1".... MAKE your mom do something???? If I tried forcing my mom into anything I'd look like Van Gogh, I'd be missing an ear.
"Change my address"? It sounds like OP is living at home. Does it make sense to move out and pay rent to save on an insurance policy?
More likely use a friend's address. In other words implicate a friend in fraud. Of course the OP's insurance rates would affect the rates of the people at his "New" address. Failure of them to mention the "New driver" in the house puts them at risk.
The OP doesn't mention dad, a more reasonable M-1 rider scenario, and if mom is a single parent does it make sense to add to her financial risks and worries.
Insurance rates are high so people commit fraud. People commit fraud so the insurance companies raise rates. This leads to more people committing fraud and more rate hikes. Can we stop the merry-go-round?
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Riceburner
Well-known member
Could also be said what parent would put their kid in danger and assist them in riding a bike? lol
I just love how some of these tards think they are the first to come up with these scams to begin with, especially when they're not smart enough to come up with the money or means to ride like a normal person. Insurance has been tough on new riders at least since the 80's, get over it and pay your dues like everyone else. When I started, most insurance companies would not even allow a SS bike AT ALL without 3 three years experience. And in relative terms, minimum wage was still well under $5.00 an hour, with rates for insurance being well over a grand for a turd of a bike. Even my crappy kawi 440, with me living up north was 600 bucks a year.
Now if we could only get the insurance companies to ream a bunch of these scam artists we would theoretically see lower rates. Throw everyone involved in the scam into facility.
Carlos Vincent
Well-known member
I’m having ahard time believing someone at CSIB would suggest to do something like that, for a couple of reasons.
1 – If the young rider is disclosed the rates would be based on him not the parent.
You can have an occasional rider, however the rates are based on the highest rated
2 – You would loose your job, oh wait maybe the person did.
ops!! Did I say that out loud
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