Insurance for cars on PCP

Tiddlywinks

pgilc1 wrote: »

I think this is down to interpretation.

My brother had the misfortune of writing his car off. The insurance company did an HPI check on the car, found there was finance owing, cleared the finance and then paid the balance to my brother.

A huge percentage of cars are on finance, theres no way this is as big an issue as you're thinking.

No - it's not down to interpretation. With insurance cover there are Ts & Cs and they normally include the proviso that you must answer all questions truthfully and completely in order for the cover to remain valid.

If you had a car on HP / PCP but answered 'yes' to the question of whether you are the owner of the vehicle then you will have given an incorrect answer.

Insurance companies are very black and white and, regardless of your brother's experience. if a car is on a PCP then it is owned by the finance company - and that must be declared to the insurance company - full stop.