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Joint Ownership Auto Insurance

Things to remember...

  • A joint auto insurance policy is when two people living at the same property share an auto insurance policy.
  • If you have a joint ownership policy, you may qualify for a multiple driver discount
  • All insurers offer the choice to add more than one driver onto a policy

“How do I insure a car with two owners?” The answer is joint ownership auto insurance. Our comprehensive guide breaks down joint car ownership agreement and insurance so you can feel confident in your coverage and learn about the tools you need to find cheap auto insurance.

Ready to start shopping for joint ownership auto insurance rates today? Enter your ZIP code in our free tool above.

Table of Contents

The Basics of Joint Ownership Auto Insurance

“What is joint ownership auto insurance and who needs joint ownership auto insurance?” A joint auto insurance policy is when two people living at the same property share an auto insurance policy.

“Can an unmarried couple combine auto insurance?” Yes, anyone living at the same residence can combine auto insurance, whether they are an unmarried couple or roommates.

“Why would I need a joint ownership policy?” While no one necessarily needs it, a joint ownership policy is a practical way to save money, as it costs less than two separate policies.

It is also a good idea to have a joint policy if two people own or share a car, as everyone driving the car will need to be insured.

So what can you save and how does joint ownership auto insurance work? Keep reading to find out.

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What are joint ownership discounts?

If you have a co-owner auto insurance policy, you will qualify for a multiple driver discount (if offered). You may also qualify for a multiple vehicle discount if there is more than one car on your policy. Take a look at the average savings for multiple vehicle discounts below.

Available Multiple Vehicle Auto Insurance Discounts by Company
CompaniesPercentage Saved with Multiple Vehicle Discount
Geico 25%
Nationwide 20%
State Farm 20%
Amica 15%
Country Financial 15%
Safe Auto 15%
The General 15%
Average Saved 13%
Liberty Mutual 10%
Progressive 10%
Travelers 8%
The Hanover5%
The Hartford 5%

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Drivers can save an average of 13 percent with a multiple vehicle discount. Make sure to view our complete list of car insurance discounts to find other ways to save on your joint ownership policy.

What will I need to get a joint ownership auto insurance policy?

“Can I get a joint car insurance policy easily?” Absolutely. The information needed to get a joint ownership policy will the same as if you were applying for a policy yourself. You will need vehicle information, driver information, and driver history information.

When you apply for a policy, you will be given the option to add other car insurance household members.

You can also choose to add a driver to an existing policy rather than buying a new one together. For example, you could cancel the other driver’s policy and add them to your existing policy, or vice versa.

Can I add someone to my car insurance that doesn’t live with me?

This is a bit trickier, as the general answer is no. Exceptions are if someone regularly uses your car, such as a child that moved away for college but comes home on the weekends.

Unless you can prove you will suffer a financial loss on a vehicle at a different address, listing an incorrect address is a form a soft fraud. Insurers take this seriously, as the Insurance Information Institute (III) estimates that insurance fraud costs $40 billion per year.

What are the pros & cons of joint vehicle ownership insurance?

“What should I look for in joint ownership auto insurance?” You should be looking at the pros and cons of joint ownership to see if it’s the right fit for you. To help you make a decision, we’ve listed the main pros and cons below.

  • Pros:
    • In most cases, a joint ownership policy will save you money due to a multiple-vehicle or multiple-driver discount.
    • Having a joint policy makes it easier to keep track of policy information in the household.
  • Cons:
    • Rates may still be high if one driver has a poor driving record.
    • Getting a joint ownership policy is complicated if one driver doesn’t live at the same address.

In most cases, the pros outweigh the cons, as long as the price of combined insurance isn’t greater than two separate policies.

Insurers Who Have Joint Auto Insurance Policies

“Who offers joint ownership auto insurance?” All insurers offer the option to add more than one driver onto a policy. This means you can get a joint auto insurance policy with any insurance agency.

“What determines rates in a joint ownership policy?” The main factors that affect auto insurance rates are:

  • Demographics: how old you are matters to insurers, as younger drivers are more likely to get into an accident.
  • Driving History: offenses on either driver’s record will raise rates on a joint ownership policy.
  • Location: insurers will consider local crime, crashes in your area, and more to assess risk.
  • Vehicle: a sports vehicle will cost more to insure than a minivan due to risk factors.

“How can I save money on a joint ownership policy?” The best way to save is to shop around.

“Can I easily compare rates online?” Absolutely. Enter your ZIP code below to find affordable joint ownership car insurance rates.

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Frequently Asked Questions: Joint Ownership Auto Insurance

Hopefully, we have covered everything about auto insurance and joint ownership of a vehicle, but just in case, here are some common questions below.

#1. – Can a car be registered in one name and insured in another?

The answer is usually no. In most states, the registered owner also has to be the insurer. The exception is if you can prove you have a financial interest in the vehicle because the loss of the vehicle would financially affect you.

Do you have to be the registered owner of the vehicle to insure it? Usually, you do, though in some cases there are exceptions.

#2 – Who owns a car when two names are on the title?

When you have car insurance with two names on the title, both of the names on the title are considered owners. However, the wording is important when it comes to joint ownership of a car title.

If there is an “and” between the names, it means both parties need to sign off to sell a car. If there is an “or,” either party can sell the car.

#3 – Can two names be on a car registration?

Yes, there can be two names on a car registration form.

#4 – Can I have a car in my name under my parent’s insurance?

“Can I be on my parents’ car insurance if the car is in my name?” Unless your parent’s name is a co-signer on the vehicle, you will have to purchase your own insurance.

#5 – What is a joint ownership coverage endorsement?

A joint ownership coverage endorsement is a form generally used for when an unmarried couple living together or related people, other than a married couple, living in separate homes who need auto insurance of the same vehicle.

#6 – Is a co-signer responsible for auto insurance?

Being a co-signer is a financial responsibility. A co-signer does not necessarily need to be listed on the auto insurance policy unless they are going to be driving the car.

Before you buy joint ownership car insurance, make sure you shop around.

Want to save on a joint ownership policy today? Enter your ZIP code in our free tool below to get multiple joint ownership car insurance quotes today.


  1. https://www.iii.org/article/background-on-insurance-fraud

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