Discussion
I'm sorting out the insurance for the car which is nominally my wife's car. However, I'm still documented as the owner and keeper and it would be more sensible for her to be owner and keeper..
Is there a simple straightforward way to change the owner and keeper to her name or does she have to 'buy' it from me.
Bob
Is there a simple straightforward way to change the owner and keeper to her name or does she have to 'buy' it from me.
Bob
The problem is changing the V5 to your wife, just puts another registered owner on the V5.
Don't really see what the issue is if you are living at the same address. My wife took over my car when I got a company car never changed the V5 to her, never had an issue with the insurance company,
Don't really see what the issue is if you are living at the same address. My wife took over my car when I got a company car never changed the V5 to her, never had an issue with the insurance company,
I own and am RK of my wife's car. It was insured with me as policyholder and her as main driver but we changed it a few years ago purely to give her the safety net of Driving Other Cars cover after she nearly got caught out when her dad insisted she was covered to drive his car.
Our insurer (LV=) said they couldn't care less how it was done and the premium would be the same, but oddly it came down slightly when we actually did it.
Our insurer (LV=) said they couldn't care less how it was done and the premium would be the same, but oddly it came down slightly when we actually did it.
Sheepshanks said:
I own and am RK of my wife's car. It was insured with me as policyholder and her as main driver but we changed it a few years ago purely to give her the safety net of Driving Other Cars cover after she nearly got caught out when her dad insisted she was covered to drive his car.
Our insurer (LV=) said they couldn't care less how it was done and the premium would be the same, but oddly it came down slightly when we actually did it.
This is interesting as we might be doing the same soon. I'm RK and other half is named driver. She may be switching to using mine for her daily work commute (and I buy something else) so we will have to switch her to being the policyholder and me named driver to reflect actual use.Our insurer (LV=) said they couldn't care less how it was done and the premium would be the same, but oddly it came down slightly when we actually did it.
Sounds like it should be OK then? I've no intention of changing RK as mad to put another driver in the ownership history.
bobmalcs said:
The main reason for considering changing Owner and Keeper is our age. We are both 75+ years. If I die first what is the status of her car insurance etc. Will she still be able to legally drive it. She is the Proposer on the insurance.
Bob
When my Dad died, it took one phone call to transfer the insurance to Mum.Bob
You can change registered keeper online during office hours.
Sheepshanks said:
I own and am RK of my wife's car. It was insured with me as policyholder and her as main driver but we changed it a few years ago purely to give her the safety net of Driving Other Cars cover after she nearly got caught out when her dad insisted she was covered to drive his car.
Our insurer (LV=) said they couldn't care less how it was done and the premium would be the same, but oddly it came down slightly when we actually did it.
^ThisOur insurer (LV=) said they couldn't care less how it was done and the premium would be the same, but oddly it came down slightly when we actually did it.
There's also the 'no claims bonus' aspect to consider. Me and my wife had a similar issue last year when the insurer said it would be just as easy to make me the insured with my wife as a named driver. they failed to mention she would then (after a couple of years) lose her proof of no claims and should the worst come about she would be back to being a new driver! Got it resolved this year and she's back on her own with no change in premium!
ro250 said:
This is interesting as we might be doing the same soon. I'm RK and other half is named driver. She may be switching to using mine for her daily work commute (and I buy something else) so we will have to switch her to being the policyholder and me named driver to reflect actual use.
You don’t have to switch policyholder - you could, just as we used to, declare your wife as main user.Whatever you do, make sure she has commuting cover - it’s pretty standard that named drivers are sd&p by default.
Makes no difference, my wife's car is registered to her but we take turns to insure every other year as the policy holder as I have company car and I want to keep my no claims bonus.
NCD lasts two years from expiry so seems the best method to keep them both "live"
We declare who the owner is (ie my wife) and it's £250-£300 each time, whether she's the policy holder or I am.
NCD lasts two years from expiry so seems the best method to keep them both "live"
We declare who the owner is (ie my wife) and it's £250-£300 each time, whether she's the policy holder or I am.
Sheepshanks said:
dave4959 said:
We declare who the owner is (ie my wife) and it's £250-£300 each time, whether she's the policy holder or I am.
Try getting a quote without any NCD - if your claims record is clean you might find there's hardly any difference. It's a bit of scam, really.Lonely said:
I know everyone will be different but out of interest I've just tried this - reduced my 20+ years NCD to zero and my quote increased by 45% so not really a scam in my circs.
Fair enough, but it 'should' have more like tripled. It seems to be used more as a way of increasing premiums if you have a claim than it is for reducing premiums for no claims.
Sheepshanks said:
Lonely said:
I know everyone will be different but out of interest I've just tried this - reduced my 20+ years NCD to zero and my quote increased by 45% so not really a scam in my circs.
Fair enough, but it 'should' have more like tripled. It seems to be used more as a way of increasing premiums if you have a claim than it is for reducing premiums for no claims.
It's a percentage (percentage based on number of years up to maximum) reduction on your premium.
Fewer years (due to lost NCB) = lower percentage reduction.
The maximum reduction is generally about 45% of total premium.
Pica-Pica said:
Registered Keeper
Owner
Main driver
.. do not have to be the same person/people.
I believe the V5 states that ‘this document is not proof of ownership’.
This.Owner
Main driver
.. do not have to be the same person/people.
I believe the V5 states that ‘this document is not proof of ownership’.
The owner is the person who paid for it (or got it as a gift)
The keeper is the person who is responsible for it
The main driver is the person who uses it the most.
If the wife is the main user/driver but the husband is the owner/keeper, the insurer will just note that on the insurance certificate.
I've been in exactly that position with Direct Line. I bought the car originally, but a few years later it ended up being my wife's main car. The certificate just said something like she was neither the owner or keeper.
vonhosen said:
It's a percentage (percentage based on number of years up to maximum) reduction on your premium.
Fewer years (due to lost NCB) = lower percentage reduction.
The maximum reduction is generally about 45% of total premium.
In Lonely's case he said the premium increased 45%. Let's round it up a bit and say it went from £200 to £300. So his 20yr NCB is really only worth about 30%. However if he made a couple of fault claims he'd find his premium would rocket.
Edited by Sheepshanks on Saturday 22 May 16:42
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