Paying car insurance by direct debit problem

jankia

Hi,
Not really a question as it's all done and dusted now, but I'd love to know if I could have done things differently. My son passed his driving test 3 months ago and has just bought his first car. He's got some financial problems left over from being out of work for 18 months and can't set up a direct debit from his bank account. I thought, OK no problem, he can pay me the money and I'll have the payments taken from my account.
Unfortunately this apparently means that the policy has to be in my name, which in turn means that I have to be the registered keeper of the vehicle because the policy holder "must have a financial interest in the vehicle". All I wanted was for the policy to be in his name with the credit agreement in my name, seemed simple to me.
Is there anyone working in car insurance who can tell me why this had to be so complicated?

mikey72

jankia wrote: »

Hi,
Not really a question as it's all done and dusted now, but I'd love to know if I could have done things differently. My son passed his driving test 3 months ago and has just bought his first car. He's got some financial problems left over from being out of work for 18 months and can't set up a direct debit from his bank account. I thought, OK no problem, he can pay me the money and I'll have the payments taken from my account.
Unfortunately this apparently means that the policy has to be in my name, which in turn means that I have to be the registered keeper of the vehicle because the policy holder "must have a financial interest in the vehicle". All I wanted was for the policy to be in his name with the credit agreement in my name, seemed simple to me.
Is there anyone working in car insurance who can tell me why this had to be so complicated?

I had no problem paying for my daughters insurance.
First was pay as you go, the second was against my credit card.
Admittedly it was a single payment each time, but it had the option for monthly direct debit.
(Now she has her own current account she pays herself)

[Deleted User]

If his bank is not allowing direct debits on his account, go and open a new bank account at another bank that will allow direct debits. Lots of basic accounts allow direct debits these days. Don't be held back in life by a bank.

SteveJW

Never had a problem setting up direct debits for my son, neither has his mother who has a bank account that is a different surname to my son.

forgotmyname

Goto a different insurance company, Not all have those rules.

My sister pays her insurance from my mums account every year.

She has never commented on them saying she cant do that.

Or is the issue they wont give him monthly installments because of his credit
history?