Does the Car Have to be Located at the Address of the Person Insuring it?

Vehicle insurance or also know as car insurance, auto insurance or motor insurance is insurance acquired for trucks, cars and other road vehicles. Its prime use is to supply protection from physical damage which results from road or traffic collisions and against liability that may arise therefrom. In some nations, it is mandatory to have insurance even before acquiring or using a motor vehicle on public thoroughfares; however, the price and amount varies widely.

In vehicle classification, there are two most significant factors in determining the risk on motor vehicles: their capability and cost. The most common providers of vehicle insurance have limitations against motor vehicles that are designed to be competent in performance level and of high speeds, or motor vehicles that will retail for a specific amount.

Those vehicles that are considered as luxury automobiles normally gain more physical damage and are truly expensive to replace. There are some motor vehicles that are classified as having high performance that will carry a higher premium because there is a greater risk of driver error. For motorcycles, insurance may have lower premiums on damage and higher premiums on physical injury because motor riders face various physical risks while they are on the road. Classification of risk on automobiles takes into account the statistical analysis of accidents, reported thefts or mechanical malfunction for every year of coverage.

But does the car have to be located at the address of the person insuring it?

Possibly yes, but in cases where some insurance purchasers want to change the address on their car insurance plan, the appropriate procedure is to talk first to the insurer. You should be careful with having various or many addresses as this may be construed as an attempt to defraud the insurance company, as premiums may differ depending on the location where the car is regularly kept. Hence, this process cannot be done online. You must remember to tell your insurer about your new address when you move to another place which could mean an administration charge and you may have to pay higher premiums if your new residence is in an area with higher risk for car crimes.

According to the Florida Department of Highway Safety and Motor Vehicles or HSMV, vehicle registration can be different from the name of the one who has insured the vehicle. It also stated that this is acceptable for registration purposes. The insurance coverage of a certain vehicle can be under the name of someone else other than the name of the registered owner. While this is acceptable to the HSMV in Florida, it must also ascertain that the vehicle is covered by an auto insurance policy. Most insurance agents require a person to have insurable interest in order to cover an automobile; and this is usually done by owning a car. If another person is insuring such vehicle, it is assumed that he is the one driving it. The insurance company would want to learn and know that it was not their vehicle and accepts the fact. There may be some insurers that do not allow another person or anybody other than the owner to have insurable interest to insure a certain vehicle, but all drivers of that vehicle must be listed to be acceptable under the insurance policy.