PCH vehicle leasing (insurance query)

jatwap

Hi, I'm in the process of taking out a PCH leasing agreement. The lease will be in my own name but my wife will be the main driver so will have the vehicle insured under her own name but with myself as a named driver on the policy (as I will occasionally drive the vehicle too). Reading the finance agreement for the vehicle I noted the following line:
"The Hirer shall at its own cost keep the Vehicle hired comprehensively insured in the name of the Hirer with a reputable insurance company, with a note of ARVAL's interest endorsed on
the policy until the Vehicle is returned to ARVAL or a representative of ARVAL."


Question is: does being a named driver on my wife's policy constitute having the vehicle "insured the name of the Hirer"? - or do I need to take out a policy in my own name but with my wife as an additional driver?

chrisw

There is no problem taking out a policy in your name with your wife as additional driver as long as you tell the insurance co that she will be the main driver. I've got a company car so that's how our second car is insured.

Babbawah

IME, if you are answering the insurance co's questions accurately & honestly then you would not have need to be asking what you are asking here.

There is no way around what I think you are trying to circumvent.

jatwap

chrisw wrote: »

There is no problem taking out a policy in your name with your wife as additional driver as long as you tell the insurance co that she will be the main driver. I've got a company car so that's how our second car is insured.

thanks Chris, that helps! ...is that the only option where I am the PCH "hirer" but my wife would be the main driver of the hired vehicle?

jatwap

Babbawah wrote: »

IME, if you are answering the insurance co's questions accurately & honestly then you would not have need to be asking what you are asking here.

There is no way around what I think you are trying to circumvent.

Sorry, I genuinely don't follow, what do you think I'm trying to circumvent? - I've just taken out a PCH agreement in my name with the clear intention that my wife would be the main driver of that car - I hadn't thought about there being any issue with that until reading the line which I'm querying now...


...if there is anything even remotely 'suspect' about what I'm doing I'd rather be made aware now (as I am still within cancellation period).

chrisw

On the face of it, the insurance would have to be in your name and your wife added as I suggested. Otherwise you will need to contact Arval to get in writing that they are happy for the car to be insured in your wife's name.

Babbawah

Firstly, you need to make the insurer aware that the vehicle is leased. Have you answered that question on the form correctly or did it inflate your premiums by such an extent that you feel the need to come here (why, I don't know. MSE the font of all knowledge !) in a vain hope of reducing your premiums?

Leasing a vehicle is the most expensive way to own a vehicle & the insewerence Co's know this in a much more comprehensive way than you do.

They are not stupid.

jatwap

Babbawah wrote: »

Firstly, you need to make the insurer aware that the vehicle is leased. Have you answered that question on the form correctly or did it inflate your premiums by such an extent that you feel the need to come here (why, I don't know. MSE the font of all knowledge !) in a vain hope of reducing your premiums?

Leasing a vehicle is the most expensive way to own a vehicle & the insewerence Co's know this in a much more comprehensive way than you do.

They are not stupid.

I think you're getting ahead of yourself, my friend. I've made the insurer aware that the vehicle is leased, that's not an issue, I simply wanted to know if there was any issue (in terms of my agreement with the finance company) with me taking out the PCH policy in my own name but then not being the principal insurer of the vehicle or the main driver (though I would be named on my wife's policy to drive the vehicle).