Insurance Policyholder and V5 registered keeper
Discussion
Hello
Need some advice on this matter, I am buying a fully comp policy on my name that will include commuting but the car I am insuring is on another relative's name on the V5 document. This other relative lives at the same address.
Am I covered if I buy the policy even though the car is registered to another driver? I understand this is how lease companies work but do they not fall under different rules due to it being registered in the company's name instead of an individual?
I read online someone had their insurance voided due to this discrepancy?
I mean, I can register the car in my name, but it's still at the same address and would add another owner to the logbook which may affect its value.
I do not know which insurance company I am going with yet but I wanted to clarify this issue before I start ringing any up.
Need some advice on this matter, I am buying a fully comp policy on my name that will include commuting but the car I am insuring is on another relative's name on the V5 document. This other relative lives at the same address.
Am I covered if I buy the policy even though the car is registered to another driver? I understand this is how lease companies work but do they not fall under different rules due to it being registered in the company's name instead of an individual?
I read online someone had their insurance voided due to this discrepancy?
I mean, I can register the car in my name, but it's still at the same address and would add another owner to the logbook which may affect its value.
I do not know which insurance company I am going with yet but I wanted to clarify this issue before I start ringing any up.
Presuming you're looking online, there will be a question asking who owns the car and you'll have a number of drop-down options.
It will be there as an option but it will reduce the amount of results you get meaning you'll likely pay more than you would if the car was registered in your name.
It will be there as an option but it will reduce the amount of results you get meaning you'll likely pay more than you would if the car was registered in your name.
Just answer the questions honestly and check assumptions.. if in doubt tell any prospective insurer and ask them to confirm. If you’re young they should be pleased you’re looking to insure it rather than getting the owner to front the insurance (ie they pretend to be the main driver when they’re not).
It varies by insurer in my experience.
We supply a lot of vehicles to people where we are the registered keeper, the owner may or may not be a finance company, but the driver, and person responsible for insurance is separate.
It's not easy to get quotes via some comparison sites, but speaking direct to the insurers will normally get a quick answer, either yes or no.
We supply a lot of vehicles to people where we are the registered keeper, the owner may or may not be a finance company, but the driver, and person responsible for insurance is separate.
It's not easy to get quotes via some comparison sites, but speaking direct to the insurers will normally get a quick answer, either yes or no.
S11Steve said:
It varies by insurer in my experience.
We supply a lot of vehicles to people where we are the registered keeper, the owner may or may not be a finance company, but the driver, and person responsible for insurance is separate.
It's not easy to get quotes via some comparison sites, but speaking direct to the insurers will normally get a quick answer, either yes or no.
IMHO that scenario is easily covered by the "owned by lease company" or similar option on the insurance proposal We supply a lot of vehicles to people where we are the registered keeper, the owner may or may not be a finance company, but the driver, and person responsible for insurance is separate.
It's not easy to get quotes via some comparison sites, but speaking direct to the insurers will normally get a quick answer, either yes or no.
It's the "owned by a mate" that causes an issue due to the lack of insurable interest.
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