Auto Insurance Claims: Insurance coverage, toyota camery, bmw 325ix

Question
Hi Richard,

I just recently got my license and thinking about getting a BMW 325ix. My dad currently owns a toyota camery, 1998. What do you think would be the best way to sign up for insurance...add the bmw under him and add myself as the secondary driver? Or there are better techniques to reduce insurance cost? So far the quotes I have been doing on many cars come about to $450 - 550 for the standard coverage which is kind of sky-high. Your help is greatly appreciated.

Answer
Hi Thinesh,

The insurance company will rate the highest risk driver in the household on the highest risk vehicle in the household to develope the highest possible premium. So it really does not matter either way. There may be a small savings going on your fathers policy due to the multi-car discount which will be about 10%.

I hope this helps
Richard Hixenbaugh