Hey guys
If the registration of a vehicle is registered to "one owner" ie, does the main driver of the comprehensive policy have the be the same person registered to the vehicle?
Hey guys
If the registration of a vehicle is registered to "one owner" ie, does the main driver of the comprehensive policy have the be the same person registered to the vehicle?
Depends on your insurance policy, you have to check your specific insurance policy to see who is/isn't covered in the premiums.
If you're thinking of putting it under your parents name (cheaper premium and excess) and putting you down as a regular driver there can be consequences when it's time to make a claim.. depends how picky the assessor is and how much they want to look in to it.
How so? just curious because isn't his name under regular driving, so meaning he is insured?Quote:
Originally Posted by h3nno
All depends on insurance companies.
If you are the registered owner and insure the vehicle under your parents name. If your not on the policy and under 25 you will get hit with a high XS on any claim you will make.
Any payouts will be to your parents as they are the policy holder with the insurer and not yourself.
Normally if any accidents are under normal circumstances insurance companies won't give a sh!t and put it through.
Correct, as long as the owner of the insurance has an "Insured interest" they can take out and be the owner of the insurance policy, and the definition of "insured interest" is VERY wide.Quote:
All depends on insurance companies.
If you are the registered owner and insure the vehicle under your parents name. If your not on the policy and under 25 you will get hit with a high XS on any claim you will make.
Any payouts will be to your parents as they are the policy holder with the insurer and not yourself.
Normally if any accidents are under normal circumstances insurance companies won't give a sh!t and put it through.
PS: Policy Holder (ownder of the policy) and Listed/Main Driver (User of the vehicle) are 2 different concepts.
IE: Your Parents can take out the insurance and be the "Policy Holder" and have you as the "Listed/Main Driver" of the vehicle (and NO, your parents do not have to be the registered owner of the vehicle), as such the car is still covered, but if anything happens, the payout will go to the "Policy Holder" not the "Main/Listed Driver"
Ok so I work for an insurance company the answere to your question is no. If I am the registered owner of the vehicle and I am not the main driver I can put the policy into the main drivers name but you need to be the registered owner or have a financial insterest in the vehicle meaning that you need to be contributing to the payments or have bought the car for your partner/son or daughterQuote:
Originally Posted by BC8