Did Insurance in "automatic mode" and filled in wrong
Discussion
Hi,
I've recently written off my car and just been told by the Insurance Company that it has "gone to the underwriters" .... It appears that I have just default clicked on being the Registered Keeper, when it is a leased vehicle.
I'm obviously very nervous about this, as it's a £50k car that is going to cost me a fortune to rectify if the claim is turned down.
Seeing as I've gained nothing from this, and effectively the car and the driver are still the same for insurance purposes ... Anyone have any insight into what is "likely" to be the outcome?
Thanks in advance.
I've recently written off my car and just been told by the Insurance Company that it has "gone to the underwriters" .... It appears that I have just default clicked on being the Registered Keeper, when it is a leased vehicle.
I'm obviously very nervous about this, as it's a £50k car that is going to cost me a fortune to rectify if the claim is turned down.
Seeing as I've gained nothing from this, and effectively the car and the driver are still the same for insurance purposes ... Anyone have any insight into what is "likely" to be the outcome?
Thanks in advance.
DumboHead said:
Anyone have any insight into what is "likely" to be the outcome?
If anything was to come of this, a lot would likely rest on whether the insurer would have declined cover from the outset had they known you were not the RK, and whether any misrepresentation was considered reckless or careless..I am confused. (Easily done 
)
I thought a lessee was the Registered Keeper (and therefore the V5C was in the lessee's name/address) and the Owner was the Lease Company?
As that way the person leasing gets to deal with all the tax and speeding ticket stuff, while the underlying asset belongs to the Lease Company?
I am not a lessee, though, so may well be talking nonsense
)I thought a lessee was the Registered Keeper (and therefore the V5C was in the lessee's name/address) and the Owner was the Lease Company?
As that way the person leasing gets to deal with all the tax and speeding ticket stuff, while the underlying asset belongs to the Lease Company?
I am not a lessee, though, so may well be talking nonsense
RSTurboPaul said:
I am confused. (Easily done )
I thought a lessee was the Registered Keeper (and therefore the V5C was in the lessee's name/address) and the Owner was the Lease Company?
As that way the person leasing gets to deal with all the tax and speeding ticket stuff, while the underlying asset belongs to the Lease Company?
I am not a lessee, though, so may well be talking nonsense
All of the leased vehicles I've had experience with have had the leasing company as the RK. )I thought a lessee was the Registered Keeper (and therefore the V5C was in the lessee's name/address) and the Owner was the Lease Company?
As that way the person leasing gets to deal with all the tax and speeding ticket stuff, while the underlying asset belongs to the Lease Company?
I am not a lessee, though, so may well be talking nonsense
SS2. said:
DumboHead said:
Anyone have any insight into what is "likely" to be the outcome?
If anything was to come of this, a lot would likely rest on whether the insurer would have declined cover from the outset had they known you were not the RK, and whether any misrepresentation was considered reckless or careless..If they do insurer leased vehicles, that's when if the misrepresentation circumstances come into it.
Would suspect it means they're writing it off and have sent it to auction.
Have you called your insurer and talked to them about it? It's an honest mistake and one that nearly caught me out when I first leased a car (see here: https://www.pistonheads.com/gassing/topic.asp?h=0&... ). It seems it can differ between insurers and lease cos.
Have you called your insurer and talked to them about it? It's an honest mistake and one that nearly caught me out when I first leased a car (see here: https://www.pistonheads.com/gassing/topic.asp?h=0&... ). It seems it can differ between insurers and lease cos.
Edited by Funk on Saturday 9th March 12:02
Funk said:
Would suspect it means they're writing it off and have sent it to auction.
Have you called your insurer and talked to them about it? It's an honest mistake and one that nearly caught me out when I first leased a car (see here: https://www.pistonheads.com/gassing/topic.asp?h=0&... It seems it can differ between insurers and lease cos.
Here's the working link Have you called your insurer and talked to them about it? It's an honest mistake and one that nearly caught me out when I first leased a car (see here: https://www.pistonheads.com/gassing/topic.asp?h=0&... It seems it can differ between insurers and lease cos.
It took the ")" at the end of URL as part of it!https://www.pistonheads.com/gassing/topic.asp?h=0&...
Kinky said:
Funk said:
Would suspect it means they're writing it off and have sent it to auction.
Have you called your insurer and talked to them about it? It's an honest mistake and one that nearly caught me out when I first leased a car (see here: https://www.pistonheads.com/gassing/topic.asp?h=0&... It seems it can differ between insurers and lease cos.
Here's the working link Have you called your insurer and talked to them about it? It's an honest mistake and one that nearly caught me out when I first leased a car (see here: https://www.pistonheads.com/gassing/topic.asp?h=0&... It seems it can differ between insurers and lease cos.
It took the ")" at the end of URL as part of it!https://www.pistonheads.com/gassing/topic.asp?h=0&...
Finally heard back that the car "is insured" and that the Total Loss team are in the process of arranging payment with the leasing Company. My hope is that this will be the agreed value minus the excess.
The woman I spoke to today at the Insurance Company said "I did the same thing and I've been in insurance for 12 years" which made me feel slightly less stupid.
I suppose I could now ask them if they are going to abide by the "new car benefit" in the policy, as it's under a year old.
The woman I spoke to today at the Insurance Company said "I did the same thing and I've been in insurance for 12 years" which made me feel slightly less stupid.
I suppose I could now ask them if they are going to abide by the "new car benefit" in the policy, as it's under a year old.
The insurer will replace the car with one of the same make, model and specification if;
• The loss or damage happens on or within the first anniversary of the date the car was first registered; and
• You, or your partner, are the first and only registered keeper of the car (or the second registered keeper if the first registered keeper is the manufacturer or supplying dealer and the delivery mileage is under 250 miles); and
• You, or your partner, have owned the car (or it has been hired to you, or your partner, under a hire-purchase or leasing agreement) since it was first registered as new (or you are the second owner if the first owner is the manufacturer or supplying dealer and the delivery mileage is under 250 miles); and
• The cost of repair is valued at more than 60% of the cost of buying an identical new car at the time of the loss or damage (based on the United Kingdom list price); and
• The car was supplied as new from within the territorial limits.
In these circumstances, if you ask the insurer to they will replace the car (and pay reasonable delivery charges) with a new car of the same make, model and specification.
The insurer can only do this if a replacement car is available in the territorial limits and anyone else who has an interest in the car agrees.
If a replacement car of the same make, model and specification is not available, the insurer will, where possible, provide a similar car of identical list price.
If this is not acceptable to you, the insurer will not pay more than the market value of the car at the time of the loss.
• The loss or damage happens on or within the first anniversary of the date the car was first registered; and
• You, or your partner, are the first and only registered keeper of the car (or the second registered keeper if the first registered keeper is the manufacturer or supplying dealer and the delivery mileage is under 250 miles); and
• You, or your partner, have owned the car (or it has been hired to you, or your partner, under a hire-purchase or leasing agreement) since it was first registered as new (or you are the second owner if the first owner is the manufacturer or supplying dealer and the delivery mileage is under 250 miles); and
• The cost of repair is valued at more than 60% of the cost of buying an identical new car at the time of the loss or damage (based on the United Kingdom list price); and
• The car was supplied as new from within the territorial limits.
In these circumstances, if you ask the insurer to they will replace the car (and pay reasonable delivery charges) with a new car of the same make, model and specification.
The insurer can only do this if a replacement car is available in the territorial limits and anyone else who has an interest in the car agrees.
If a replacement car of the same make, model and specification is not available, the insurer will, where possible, provide a similar car of identical list price.
If this is not acceptable to you, the insurer will not pay more than the market value of the car at the time of the loss.
TwigtheWonderkid said:
DumboHead said:
I suppose I could now ask them if they are going to abide by the "new car benefit" in the policy, as it's under a year old.
If you read the wording of that clause, I bet it's restricted to vehicles owned and registered by the policyholder. DumboHead said:
Finally heard back that the car "is insured" and that the Total Loss team are in the process of arranging payment with the leasing Company.
Some companies won't insure leased cars, but the main reason they want to know who owns the car is so they don't send the driver a hefty cheque only for them to spend it without telling the finance company.The other thing to watch with leasing is policies often exclude Driving Other Cars cover.
I would imagine putting the wrong owner is even more common with cars on HP/PCP - the finance company owns it until the final payment is made. I had a long-serving dealer salesman absolutely insist I'd be the owner from day 1 - his face was a picture when I showed him in the docs where it said VWFS owned the car.
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