I would have to say contact an insurance agency as well as a lawyer. You need to know the law in your area. Although they may allow you to obtain the policy, it may not be the best law abiding decision. As if the second party had an issue with it under any circumstances something were to go wrong, you may be held liable in a civil court of law for monetary damages and casualties. What seems like it would be logically the thing to do sometimes takes a little more analytical skills to figure out. Wouldn't be the best decision without some type of agreement between the 2 of you in writing. It could come back to bite you later, like meeting your dream woman in a foreign country, and getting married to her without a prenup. And you're the millionaire! Get the proper advice from the right channels.