Is my car insurance company trying to take advantage of me?

My parents helped buy me a car in 2010 when I was in undergrad. It has been in my mother's name, and the car has been on their insurance policy since we bought it. I pay around $400 per year for my part of the insurance, as we have a multi-car discount on our 3 vehicles.

My mom was on the phone with the

My parents helped buy me a car in 2010 when I was in undergrad. It has been in my mother's name, and the car has been on their insurance policy since we bought it. I pay around $400 per year for my part of the insurance, as we have a multi-car discount on our 3 vehicles.

My mom was on the phone with the insurance company recently and somehow it came up in conversation that I had recently gotten a job and a new apartment. The rep said that meant that I would have to get my own policy and could no longer be on my parent's policy even though the car is still in my mother's name. My new policy would be about $1300 per year. RIDICULOUS.

To recap their reasoning: I have a different address therefore I have to have my own policy.

Again, the car is still technically my mother's car. I still consider my parent's address/home to be my permanent address because I'm only going to be in this apartment for a few more months, and the majority of my mail is still sent to my parent's house. Contracts, tax info, insurance paperwork, healthcare paperwork, etc.

Is there anyway around this nonsense $900/year increase in my insurance??
Some additional info in case it helps:
I'm 25 and drive a really standard, no frills honda accord. Never been in an accident. Never gotten so much as a parking ticket.

Other answer:

No. The insurance company is doing what the law says it has to do, and trying desperately not to take advantage of you.

They cannot let you share a policy with someone who does not live with you.

They cannot let you have insurance for even a penny less than the price that the state has authorized them to charge.

It is not "their reasoning". It is the law.

If they were trying to take advantage of you, then they would do what you want, because (unlike you), they know that doing what you want would make the policy invalid, so they could keep taking your money, but wouldn't be allowed to cover any damage to the car, so it would really be a complete rip-off.

Living with your mother is the only way around this mandatory increase that the law requires them to impose on anyone your age who stops living with the person with whom they share an insurance polciy.

Your mailing address has no bearing on this. Insurance is based on where the car is parked, since that is where you will drive from to work and back, or go to the grocery store or whatever on a daily basis.

Insurance companies, especially with 3 cars will give a substantial multi car discount, but that is only based on ALL 3 cars are parked there.

So, unless you park this car at mom's house, then either walk or have someone drive you there to pick it up and drive, then your new address is the legal address or where the car is parked (every) night.

Look the car is in your mother's name – it's her car. Period. The car CAN stay on her policy, as long as you are living in the same state, HOWEVER, you must be listed as the primary driver, AND, the garaging location must be changed to reflect your apartment where you are living. And yes, odds are, that's going to cost more.

Look, as long as you are a "listed driver" and not a policyholder, this insurance does NOT count as "your" insurance. Whenever you DO get your own car and your own policy, you're GOING to pay this really high rate, as you have NEVER had insurance in your name before. It's NOT the same, being a listed driver – which is how it's set up now – and being the first named insured.

But the agent is wrong on this. The name on the title MUST match the name on the policy.

The question is irrelevant

The insurance company have told you what it will cost YOU to insure with them under YOUR new circumstances

THEY have arrived at this sum under THEIR rules and the law

what YOU think about their rules and the law is irrelevent

you have the choice- pay it or try another company

(in the UK you would have been in this position years ago
YOU cannot be the primary driver of somebody elses car under THEIR insurance in order to get cheaper insurance (its called "fronting" and is illegal – its classed as insurance fraud)
ANY claim you made under the insurance would be rejected and it would affect both your and the policy holder's insurance costs for years
If they DID pay out but found out later both you and the policy holder would be sued, AND charged with insurance fraud)

What you "consider" to be your permanent address – and your mail arrangements – are irrelevant. The fact is that you live at a different location and the vehicle is principally garaged there. Your parents may be the registered owners, but the insurer is saying that you're no longer part of their household and thus no longer eligible to be a "covered driver" under their policy. Transfer the vehicle title into your name and go shopping for insurance. It's unrealistic to expect to find equivalent coverage for the same amount your parents pay for an additional vehicle on their policy.
yes that is ridiculously insane. The car being in your moms name doesn't mattter. You are still living away from the house. It's time to look for a different insurance company.
Ziff Spiffington:
of course it's going to cost more – the ZIPCODE you will be living in matters and you LOSE the MULTI-Policy discount and your AGE also matters. the OWNER of teh car is irrelevant – it's WHO is the PRIMARY driver (YOU) and if you have your own apartment, there is NO WAY IN HELL you can "consider your parents house to be your permanent residence" welcome to the REAL WORLD 0 I have no idea how you ever got coverage for only $400 a year even under your parents policy. My son lives with me, has a $3000 car and I pay about $1200 a yr for his insurance WITH multiple policy discounts and he's 23
Any such change of circumstances must be reported to the insurance company. Shop around, there is more than one insurance company and more than one comparison website.
Cathi K:
You are no longer in the household and you are under 30. Expensive insurance. You could call around for a better quote.
Happy Gramps:
in a way the insurance agent is correct IF you keep ( or what insurance companies refer to as "garaged at" ) the honda at your address and not at your folks residence….ins companies use many factors in order to determine the rate a person will pay ; among them are : at what address the vehicle is parked at night; how many miles are driven; if the vehicle is used for driving to school, work, or only personal use, and so on…………….so if you keep the honda at your address, then you will need to have another policy in your name…………….you may want to call some ins co's and ask this of them and get their rates

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