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Any car insurance experts about?

imported_Yaseen Oct 23, 2004

  1. imported_Yaseen

    imported_Yaseen Guest

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    Hi all

    can someone advise me on the issues regarding my brother taking out an insurance poliy on my car rather than me? If something happens who gets paid, who do they deal with etc

    Is it better for me to just put the car in his name and then insure or leave in my name.

    what are the differences?
     
  2. leespears1

    leespears1 Member

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    [ QUOTE ]
    Yaseen said:
    Hi all

    can someone advise me on the issues regarding my brother taking out an insurance poliy on my car rather than me? If something happens who gets paid, who do they deal with etc

    Is it better for me to just put the car in his name and then insure or leave in my name.

    what are the differences?

    [/ QUOTE ]

    theres no experts of any nature on this site! yeah right /ubbthreads/images/graemlins/lol.gif
     
  3. Tiddy

    Tiddy New Member

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    Technically, your brother cannot insure your car as he has no insurable interest in it. In the same, way, I could not insure your car or you mine.

    If he were to insure it, it would for all intents and purposes have to be his, so the log book etc would need to be changed to his name.

    What are you trying to achive by juggling things around?
     
  4. imported_Yaseen

    imported_Yaseen Guest

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    /ubbthreads/images/graemlins/beerchug.gif


    Thats what I though as studied a bit of contract law at uni- but was checking, as on Insurance quotes online, it gives you the option of this.

    Achieve: My insurance will be sky high this year as lost my no claims due to a 50-50 accident /ubbthreads/images/graemlins/burningmad.gif, going to sign the car over him to use and get a 1.0 or summat with 3rd party on other cars so:
    1) build up my NCB cheaply,
    2) spend the money saved on mods
    3)and still get to drive the a4 fairly often /ubbthreads/images/graemlins/wink.gif

    /ubbthreads/images/graemlins/grin.gif
     
  5. Anito

    Anito Member

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    [ QUOTE ]
    Tiddy said:
    Technically, your brother cannot insure your car as he has no insurable interest in it. In the same, way, I could not insure your car or you mine.

    If he were to insure it, it would for all intents and purposes have to be his, so the log book etc would need to be changed to his name.

    What are you trying to achive by juggling things around?



    [/ QUOTE ]

    Yep he's right, if he's not the owner of the car then there is no insurable interest.

    However.....I have insured my car for 4 years in my name, money and NCD but for a car that I am only the keeper of NOT the owner. Basically my car was (bought it now) on a personal lease. Percentage wise very few insurers cover it though.

    It's not likely to make any difference in your case though /ubbthreads/images/graemlins/frown.gif
     
  6. dickys3

    dickys3 Moderator Staff Member Moderator

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    Dont forget that the log book (V5) only identifies you as a keeper of the vehicle, not the Owner! DVLA do not care who own the car, just who keeps it (Drives it).
     
  7. If your brother takes out the policy, he will have to be the registered owner of the car anyway (as far as i know, you can't take out a policy on a car you don't own). So therefore he is the one that will deal with the insurance co, and he is the one that will get paid. But you can be a 2nd driver, if his status is better then yours then it will be cheaper under his name. I have my car insured under my mums name, as its much cheaper. You have to lie and say that she is going to be the main driver, but really she hasn't driven a car for years, its my car and i'm the only driver. But if i make a claim, how are they ever gonna prove that she wasn't the main driver of the car anyway?
     
  8. I have insured a car i dont own before some insurance companies will do but be prepared to answer alot of question as to why. I had to as my dad worked abroad alot and he gave me the use of his car when he was abroad but only if i insured it
     
  9. imported_Yaseen

    imported_Yaseen Guest

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    Thanks for all the replies guys and gals /ubbthreads/images/graemlins/beerchug.gif

    Insurance now sorted

    /ubbthreads/images/graemlins/dancing.gif
     

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