I think an issue might occur if the insurance company thinks you are an occasional driver of the household that your parents did not inform them about.
Since as you said you are listed on some documents as still living in your parents house, you might have to prove to them that you don't regularly use the vehicle or they may deny any claims.
here is a cached version of what the Insurance Bureau of Canada says about lending a car (for some reason their website is down?):
http://webcache.googleusercontent.co...&gl=ca&strip=1
Quote:
Under certain circumstances, you can borrow a car without worrying about whether or not the car’s insurance names you as an occasional driver, or lend your car without worrying about whether or not the guest driver’s name is on your insurance policy.
If you are borrowing a car
The person whose car you are borrowing must give you permission to use it.
The use of the car cannot be part of a regular pattern, such as driving to school every day. (If you regularly borrow the same car as part of a routine, you must be listed on the owner’s insurance policy as an occasional driver.)
You must be a licensed driver who is legally allowed to drive in the province.
If you have an accident while driving a borrowed car, the accident goes on the record of the person who has the insurance policy on the borrowed car.
If you are lending your car
You must consent to its use by the other driver.
The person who borrows your car cannot be using it as part of a regular routine. If your friend uses your car every Friday to go grocery shopping, then he/she must be named on your insurance policy as an occasional driver.
The person to whom you lend your car must be a licensed driver who is legally allowed to drive in the province.
If the person borrowing your car has an accident while driving your car, it goes on your insurance record. When you lend your car, you are also lending your good driving record.
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