While the first part may be partly true, I have on my auto policy to specifically exclude drivers under 25 (in order to reduce my rate). I can probably share the certificate of insurance with you if you're really interested.
Loaning your bike
- Thread starter ChiGGz
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While the first part may be partly true, I have on my auto policy to specifically exclude drivers under 25 (in order to reduce my rate). I can probably share the certificate of insurance with you if you're really interested.
I am definitely interested to learn more. What company are you with? What is the name/number of the endorsement used to apply this restriction?
I'll pull it out when I get home, but I'm with Coachman for my auto policy right now (although likely switching soon).
Thanks. You can just send me the wording on the policy related to the exclusion (which is likely an endorsement or something).
I learn from the best
Thanks Viff! I really appreciate all the time you (and the other peeps too) spend on this forum, answering questions, etc.-Jamie M.
Here's what it says (under RATING INFORMATION/DESCRIBED AUTOMOBILE(S)):
Class 02 Short Com or ann use < 16000 km; # drv <3; PO >25 yr
Vehicle Use: Pleasure
I suppose that's just a rating class, and the principle operator (myself) is older than 25 years? I specifically remember my agent asking if he could exclude anyone under 25 years old, and I told him yes, but I guess that may not be reflected in the policy. Is it possible PO could also mean permitted operators?
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Would you loan a vehicle to someone you suspect would cause a crash, kill people, possibly kill a friend riding in/on the vehicle, raise your rates for years, make you eat any deductable, inconvenience you while you shop for new wheels, etc? If the damage exceeds the liabilty (Cripple a lawyer's kid) is your house ready to sell? RRSPs are a pain to watch anyway.
If the answer is "Yes" they will label you as such and renewal will come with full wrath.
That is simply the classification description for the Principal Operator. PO is most definitely "Principal Operator" and not "Permitted Operators". I can guarantee you that a 17yo with his G2 can drive you car without a problem and he is fully covered. As far as I'm aware, there is no such policy that would allow you to restrict coverage to people over a certain age.
Interesting, I guess it's maybe the brokers then that perpetuate this falsehood then. As I mentioned before, my broker said he could get a cheaper rate for me if he could exclude anyone under 25 from driving my vehicle. But other than what I posted above, I see no mention of it on my policy. I wonder why he'd even bother asking, or if he just uses it as a question to flush out whether there's other (young) drivers in my household.
