Ownership status with HP

aom_ref

Hi folks,

Currently in the process of buying a new car on HP and looking at insurance quotes via comparison sites and a local broker.

My question is how do you answer the question about ownership of the car when it is on HP? For example, on Go Compare the only option that comes close would be 'leased - company' or 'leased - private'. However, my understanding is that would related to PCP rather than HP but I also think that under HP the finance company owns the car?

The issue here is that quotes for leased cars are much higher and that some companies won't offer cover at all if the leased option is chosen. No problem biting the bullet on this and paying the higher premium but I'm just wondering what the general practice is on HP for insurers, is it treated the same as PCP?