I'm 24 and im making payments on my motorcycle. Insurance is killing me since I need to have full coverage. My question is. Can I have my parents put the bike under their insurance even though the bikes loan is on my name?

Thanks

 

can't you ask the agent? wouldn't his answer be more accurate?

 

No.

 

I don't know if its the same for you but..

in Ca, w/ StateFarm I have my own seperate account, with the S (and a loan), but have it addressed under my parents account for their homeowners discounts, etc.

 

when I was 19, the insurance killed me to so my solution was borrow the money from a family member to pay it off, set up an allotment to them for what the payment would of been if I stayed with the bank, then went to a broker and got liability insurance. made my payment go from 7k (on a 5.5k bike!) a year to 18/month! I think the company was arrowhead.

 

Shouldn't really buy things you can't afford.

 

I can afford it but is just like insurance is more than the payment. I could put that money toward something else... arggghhhh

 

I bought my first bike with a personal loan, not a vehicle loan. I wasn't required to have insurance for a personal loan. Maybe you could pay off the bike loan with a personal loan and then drop the collision coverage.