BB_Sam

I have a good scenario for you guys.

I recently upgraded to a G37 from a G35. I'm in the process of trying to sell the G35 so I told my insurance company to simply insure it for fire and theft (it is being stored in my garage).

By adding the G37 to my policy, I qualified for a multi car discount of 15% on each car. That's about $350 in annual savings on the G37. The cost of the insurance for the G35 is now minimal -- maybe $120 a year. So, if I sell the G35 and take it off my policy, I will lose the 15% multi car discount and end up having to pay about $230 MORE for insurance -- do you follow the math?

So, my question is, if I sell the G35, do I *have* to tell the insurance company I sold it? Can I insure a vehicle I don't own especially since the new owner will have their own full insurance policy on it?

Strange situation, eh?

Surfdog

Get a $500 winter beater?

Mike

iTrader: (1)

I gotta agree with Surfdog.

CHI-TOWN G37

If you keep the insurance on a car you sold, you will have liability associated with it if it gets in an accident. The insurance is tied to the VIN.
Get a beater for multicar discount and insure your home/apartment with the same company for even more discounts.

Boomer-Bob

iTrader: (1)

I'm with Surfdog on this one...

Tie in with homeowners coverage is a big discount also. But, I wouldn't lie to the insurance company. They have ways of getting even.

Chekov

You could get nailed for insurance fraud as soon as the new owner of the G35 insures it because as another poster said, auto insurance is tied to the VIN. At any rate, you’re subjecting yourself to cancellation if you ever have to make a claim on the G37 if they find out you‘re insuring another car you no longer own.

WhosUrBuddiee

iTrader: (1)

Get a beater. Honestly if you really wanted, go to a junkyard and buy a crap car for 100 bucks and just tell the guy he can keep it......its not going anywhere anyways.
Write down the vin and insure it.

Chekov

I don’t see much of a benefit in going to the trouble of getting a beater. The OP would be spending around $100 to $500 for it to save $230 on his insurance. But that doesn’t include tax and license fees on the beater. It’s hardly worth the effort.

BB_Sam

Decided to just be honest. In the end, the insurance company always wins -- it would be horrible to pay all this money for insurance only to have a claim denied over a few hundred dollars in savings.