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Minnie Said:

Auto Insurance: Name Insured and Operator...?

We Answered:

1. Even if you are the operator of the vehicle, your mom's name should be listed on the insurance ID card because she is the title holder.
2. As long as you are listed as an operator in the policy you will be covered.
3.If your friend drives your car with your permission and gets into an accident, then the claim should be handled by your company, and your rate will increase.
4. If you drive your friend's car with permission his company will handle the claim, and his rate will increase. If you drive your friend's car without permission it is considered a felony, so neither company will pay the claim.
Hope this info helped :0)

Stephanie Said:

Closing Statement line items:How much should a "Title Examination" fee cost and what is a "Risk Rate" fee?

We Answered:

I am a title examiner in Kansas City, Missouri, and both fees are legitimate. The "Risk Rate" is what we pay directly to our underwriter to insure your title. The title examination fee goes toward the search, clearenace of items, payoff ordering, title opinion, order processing, etc. It is NOT a bs fee as the gentleman ahead of me answered. We are required by the state of Missouri to file those Risk Rates with the department of insurance.
Since they changed our title laws a few years ago, we are obligated to show the customer/borrowers a full disclosure of what we pay to our underwriter, and you will find that on line 1108 of your HUD. It is not paid to the same company unless you have used a title company that is owned by the underwriter (like First American Title). Feel free to contact your title provider....they will be more than happy to explain.
Oh, and one more thing...we do base title exam fees on your loan amount or sales price. Risk rate is based the same way.
If you refuse to pay the title exam fee, I have a feeling you will be without title insurance.

Jacob Said:

Is it legal to do this with car insurance?

We Answered:

Is it illegal as in will the police coming crashing through Person B's door and arrest them for this? No. I know of no law anywhere that says this is against the law. However if Person B does not declare to their insurer that Person A is the principal operator of the second vehicle then the policy will not be worth the paper it's written on if there is a claim. The insurer will deny any claim and possibly cancel the policy. This means Person B will become financially responsible for everyone's damages/injuries. This means they could be in debt for the rest of their life trying to pay off a judgment from an accident caused by Person A.

Hugh Said:

Wife on Insurance lowers Premium?

We Answered:

Depends on what state you live in, and which company you're with.

More importantly, failure to disclose a household member on your auto policy, can void coverage on that policy for that driver.

I'd get a second opinion, or have the friend put it in writing - one way or another, something smells fishy here.

And the CHEAPEST thing to do is put both cars on the same policy - with the same company that does the house insurance. You could be leaving A LOT of money on the table, having all those seperate policies out there.