insurance and pcp?

[veeeight]

Fair enough the amount of information they require so they can't pull out on a claim is ridiculous and is not made clear enough in my opinion would you not agree?

It's just the state of the insurance (and other) industry. You do have to read all the small print, I'm afraid.

 

[Simon L]

..........I used to eat worms when I was a nipper.........so me Ma tells me!!

.....gawd knows why, she's a fantastic cook lol

 

[Jassyo06]

Right at a certain point in time,l had 2 cars on the driveway a RCZ/ST3...the RCZ was leased,the focus PCP...one in my mothers name RCZ...the other in my name...it was a month of a gap for transition between...2 as l got 4 weeks free insurance through Ford...when it came time to put the ST on the existing insurance policy as the RCZ...they asked who was the registered keeper/finance l said me.....they said NO you cant...the policy is in your mothers name so 2 years no claims wiped out just like that,l had to start from scratch again with a much higher premium...lesson learnt

 

[veeeight]

Different companies and underwriters, have different rules/guidelines.

So it's hard to say that something will apply across the board with all companies.

So it's very important to check your policy and wording, to ensure that everything is accurate and straight.


eg: Direct Line allow named drivers to build up a NCB of their own, but some other companies don't.

 

[Code]

Ah I'm glad I read this! I just traded in my owned car for one on a PCP deal, and hadn't even considered this when I amended my policy to change to the new car.

Fortunately this was free to amend on my Aviva policy as below:

 

[Trev241]

Got the S3 on PCP took advantage of the seven day cover and am insured with Audi's own insurance (have been for years) .
I assume that I am covered as all products are through Audi, does the finance department cross reference data with the Insurance department or is this asking to much.
Still need to check it out.

 

[Wondering Soul]

Got the S3 on PCP took advantage of the seven day cover and am insured with Audi's own insurance (have been for years) .
I assume that I am covered as all products are through Audi, does the finance department cross reference data with the Insurance department or is this asking to much.
Still need to check it out.

Not sure whether they would do that or not, only way to know for sure is to check your policy wording.

Bit random but I've always found Audi's insurance cover to be ridiculously expensive, I had a quote from them sent through for my S3 a few days before my 7 day cover expired; was almost £400 more than I currently pay with nothing I don't have on my current policy! They said it was because of my age, but that doesn't appear to be an issue with eSure (my current insurer).

 

[Scottyg]

Got confirmation email in this morning. All sorted.

 

[thebluefox]

I'm insured with Chris Knott - when asked the question I just told them it was on PCP and let them select the right boxes!

It's for these reasons that I always prefer to do these things over the phone and not online.

 

[Gazjs]

In the specific case of Direct Line (I am with them at the moment)

The paperwork will come back and say that the "policyholder is the owner and registered keeper"

You need to ring them to tell them you are not the owner, the car is on finance.

You'll then get a revised set of paperwork that says "policyholder is registered keeper but not the owner"

Yes. And Direct line will insure you (your personal circumstances may vary) but it takes a phone call. Doing it online assumes you are the legal owner.

Read through the 2 threads linked in post #2 for more examples.

After reading my documents tonight and coming across is this thread, it is reassuring to know that Direct Line will sort this out easily enough over the phone.

Thanks!

 

[Shawn8V]

Scott l would double check this with your insurance company mate,if you tell them this, they may cancel the insurance right there and then
l am almost certain whoever's name is on that PCP finance DOC has to be the register keeper,obviously you didnt take out free Audi cover insurance for the first week??? as they only insure the car in the name of the person on the finance Doc

My s3 is registered on my name but the finance agreement isn't, my Audi dealer said it doesn't matter who's name the car is registered too, as long as the insurance policy is on the registered keepers name. I've declared to my insurer that I'm the keeper but not the legal owner as the car is on a lease (PCP). All this did was increase the premium slightly.

 

[S32B]

I just called AXA after reading this! I told them that the car is on PCP and I've said that I'm the legal owner as well as the registered keeper, was I right to do so? She checked her info and even put me on hold whilst she went away and double checked with her supervisor, she said it's fine how I have it

Just to be safe, I asked if she could make a note on my account to say that I have called to double check it was right

 

[Gazjs]

If they say you are right then who are you to argue with them

 

[gordie1973]

Great thread - I'm going to check this with my insurance (direct line) and for the Mrs (Sheila's Wheels).

I suppose the question is - has anybody ever been refused a payout on this basis?

 

[Gazjs]

Great thread - I'm going to check this with my insurance (direct line) and for the Mrs (Sheila's Wheels).

I suppose the question is - has anybody ever been refused a payout on this basis?

Direct line will pose no problems for yourself. Changed mine yesterday without and problem or increase to premium. All they asked was who the finance company was and that they would send new documents out

 

[thebluefox]

Great thread - I'm going to check this with my insurance (direct line) and for the Mrs (Sheila's Wheels).

I suppose the question is - has anybody ever been refused a payout on this basis?

I've had non-fault claims (when I had my A1) before I knew about this (so was down as keeper AND owner) and I was fine.

I'd rather not chance it though....!