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car insurance

Last post Wed, Nov 19 2008, 1:41 PM by Coyote. 3 replies.
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  •  Tue, Nov 18 2008, 11:28 AM

    car insurance

    hi

    i have a problem with insurance.

    due to circumstances i cannot get a car in my name so my stepfather(who doesn't drive) has bought a car for me, however im told its going to be impossible to get insurance on it because the car is not in my name.

    any help would be appreciated

    thanks

    • Post Points: 20
  •  Tue, Nov 18 2008, 2:47 PM

    Re: car insurance

    Hi,

    I cant see why this should be a problem. You just need to state that you are not the registered keeper.

    My first car was bought for me by my dad, and was in his name, but I had the insurance on it.

    Hope that helps

    • Post Points: 20
  •  Tue, Nov 18 2008, 5:14 PM

    Re: car insurance

    hi

    thanks for the reply.

    i forgot to say that we stay at different addresses though and my current insurer says they wont insure me because of this as the registered keeper and the main driver would have different addys.

    • Post Points: 20
  •  Wed, Nov 19 2008, 1:41 PM

    Re: car insurance

    tman:

    hi

    thanks for the reply.

    i forgot to say that we stay at different addresses though and my current insurer says they wont insure me because of this as the registered keeper and the main driver would have different addys.



    Okay,

    Two things.

    1) Some insurance companies will only want to insure straight forward risks and avoid those where it could be complicated. When you are not the registered owner of the vehicle, then you have no financial interest in the vehicle which goes against the principle of insurance to be valid. (ie. it's not yours why should you be getting paid out on a claim). However, you only need to have financial interest in the vehicle in the event of a loss not at the inception of the policy so some insurers are more lenient as the change of ownership may take days/weeks etc (ignore BIBA who state that there must be financial interest at the inception AND the loss as this is incorrect due to Marine Insurance Act 1906). This is not commonly known and therefore some insurers rely on this fact whilst asking who the keeper and owner is at the time of inception - completely avoiding the risk from the outset if it is anything other than 'Policyholder' (ie. you).

    2) If the vehicle is likely to be staying at different postcodes throughout the year (ie. you have a property you stay at here for a week, here for another etc.) then you should give both postcodes to the insurer. The highest risk area will be used as the rateable factor.

    Insurers are likely to say 'go away' in the event of 1 and 2 (Above) coming together.
    Coyote
    • Post Points: 5