Can I get a car insurance policy for a vehicle owned and registered by a friend?

bade64

a broker has advised that its not possible

alternatives..
1.temp cover per day up to a month
2.transfer registration of the car in my name
3.be a temporary/permanent named driver on his/her policy

all of the above have pitfalls of either cost, losing ncb etc..any ideas please?

Blade

Smithers37

Hi Blade,

Unfortunately, most insurers will not insure a vehicle unless you have an 'insurable interest' in the vehicle. If you took a policy out to cover you for your friends car, then it's no longer indemnity and kinda makes the policy a bet as to whether your friend has to make a claim or not.

Also, another issue that you have is that your friend (I presume) is already insured for that vehicle? You can only insure a car with one policy at a time, otherwise you're dual-insured.

I would say your only options are

1) Be a named driver, but potentially lose your NCD entitlement.

2) Transfer the registered keeper to your name, however they will need to cancel their policy (dual insured) and I'm not sure they will be happy to do that.

There is one more option... but that would involve marrying your friend.

Hope that helps.

thenudeone

Smithers37 wrote: »

You can only insure a car with one policy at a time, otherwise you're dual-insured.

Complete rubbish I'm afraid.
Sorry to be so blunt but I'm fed up with the number of post repeating the myth that it's not possible to have two policies on the same car.

Of course you can buy insurance on a car which you don't own and aren't the keeper of, even if someone else already has an insurance policy on it.
That's exactly what these companies are selling:
http://www.wearemarmalade.co.uk/learner-driver-insurance
http://www.aviva.co.uk/short-term-car-insurance/
http://www.theaa.com/insurance/short-term-car-insurance.html

It is true that an annual policy on this basis would be out of the ordinary, and therefore more difficult to find (and more expensive) than a policy for a standard situation, but certainly possible.

Just remember to keep BOTH certificates with the car. The police database can only carry full details of one policy at a time against each vehicle.

fluffymuffy

Slightly different, but I heard recently of a friend of an acquaintance who sold their car but didn't cancel the insurance as it was due to expire in a few weeks anyway. Meanwhile the new owner had an accident and caused a lot of damage. They didn't have any insurance and so the injured party's insurer claimed of the one policy that was still in force at the time.... thus wrecking the ex-owner's no claims bonus.

In other words - you can insure a car that you have no interest in. Though in this case it was already insured when it was sold.

It's a good warning to anyone selling their car though. Cancel your insurance.

rs65

fluffymuffy wrote: »

Slightly different, but I heard recently of a friend of an acquaintance who sold their car but didn't cancel the insurance as it was due to expire in a few weeks anyway. Meanwhile the new owner had an accident and caused a lot of damage. They didn't have any insurance and so the injured party's insurer claimed of the one policy that was still in force at the time.... thus wrecking the ex-owner's no claims bonus.

In other words - you can insure a car that you have no interest in. Though in this case it was already insured when it was sold.

It's a good warning to anyone selling their car though. Cancel your insurance.

That's not slightly different - its completely different and completely irrelevant.

Just driving a car gives you an insurable interest.