My brother recently had his car reposessed. I have a spare car registered in my name which I can lend him for a year. The thing is I want to carry on being the legal owner of the car, but we wanted to insure him as the sole driver.
I have approached several insurance companies and they have told me that it is not possible as you can't insure something that is not yours. Is there any way around this.
Or if I transfer the vehicle so that he is the registered keeper how do I make it legally clear that I am the actual owner.
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Go to a decent insurer or broker.
When a car is on HP you don't own it, but you can insure it.
No matter what you say or do, if you "how do I make it legally clear that I am the actual owner. " then you own it, full stop.
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>>When a car is on HP you don't own it, but you can insure it.
Its called having a financial interest, not owning.
Insure it in your name with him as a named driver and the main user.
M.
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Insure it in your name with him as a named driver and the main user.
If he is the policy holder and the named driver has an at fault claim, does that have repercussions when renewal of his own policy comes up - "have you made any claims in the last xxx years"?. That would be the main reason I would want to isolate myself from a policy.
(sorry about the HP thing - must have been a flashback to many years ago).
Martin
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Surely this is like leasing a car? You as the lessor retain ownership of the vehicle whilst your friend as the lessee is responsible for maintining and insuring????
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Drive Your Way - If anything can, TerraCan
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Go to Elephant, they insured me to drive my dad's 3 series when he stopped using it, we didn't change the registered keeper, the policy with Elephant was in my name not my dad's so no risk to him if I crashed and they were fully aware of the circumstances.
A word of warning, if one of their operators tells you that it isn't possible to do this then just ignore them and call back and speak to someone else, I knew from their website that they would do this but the first person I spoke to on the phone advised it couldn't be done...
Blue
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Go to Elephant, they insured me to drive my dad's 3 series when he stopped using it, we didn't change the registered keeper, the policy with Elephant was in my name not my dad's so no risk to him if I crashed and they were fully aware of the circumstances. A word of warning, if one of their operators tells you that it isn't possible to do this then just ignore them and call back and speak to someone else, I knew from their website that they would do this but the first person I spoke to on the phone advised it couldn't be done...
You'd probably only ever find out if this was really OK when you made a big claim.
I got stuck when I wanted to insure my FIL's car in my name - I tried the usual insurance companies and a broker but I got the 'can't insure something that's not yours' answer. I can only imagine that there's a lot of slightly dodgy insurance policies out there - I know that of you buy a pre-reg car you often don't get the V5 for 3 mths. OK, your still the legal owner, but isn't the question 'owned and registered in your name'?
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'can't insure something that's not yours' answer
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read and learn from the cases at the link below, before taking out insurance for other people to drive on your policy:
www.financial-ombudsman.org.uk/publications/ombuds...m
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>> 'can't insure something that's not yours' answer >> read and learn from the cases at the link below, before taking out insurance for other people to drive on your policy: www.financial-ombudsman.org.uk/publications/ombuds...m
What's your point here? The OP is trying to do the right thing, not deceive the insurance company.
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