Can someone else insure my financed car?Asked by: Ruby Trantow | Last update: February 11, 2022
Score: 4.3/5 (74 votes)
Most insurers require all licensed drivers in a household to be on a policy. If you want someone else to insure your financed car because you simply want them to pay for your car insurance, and they agree to it, they should be able to make those payments, but you still need to be the primary policyholder.
Who can insure a financed car?
The financing company will have final say over the insurance requirements and may insist that the person who financed the car be the one who holds insurance on it. When you want to insure a vehicle that someone else financed for you, the financing company will want the insurance to be in their name.
Can you insure a car if you are not the owner?
Can I insure a car I don't own? Yes, you can take out a separate car insurance policy on someone else's car. Just tell the insurer you're not the owner or the registered keeper of the vehicle when you apply.
Can I buy a car and put it under someone else's insurance?
Yes, you can buy auto insurance coverage for someone else, as most companies allow the driver and policyholder to be in different names. This is fairly common for teen drivers, as parents generally are the auto policyholders until dependents can purchase their own vehicle and own insurance.
Can I insure my wife's car in my name?
Generally, a car insurance company will only insure a car in the name of the person who is listed on the car's title. So, for example, if your wife is listed as the car's owner, then an insurance policy for the car would have to be listed in her name. ... However, you two could have a joint policy with both your names.
How to insure yourself to drive someone else's car
Can I insure my girlfriends car?
Most insurers allow you to add a significant other, such as a boyfriend, girlfriend, fiancé, or domestic partner, to your car insurance policy if you live together. Depending on the insurer, a significant other can also add their vehicle to a joint policy if both cars are kept at the same permanent residence.
Who is the legal owner of a car on finance?
A car on finance legally belongs to the car finance provider until you've completed your payment plan. Once you've fully paid off the car it may belong to you, or you may have to hand it back to the lender - depending on your car finance agreement.
Can you change the registered keeper of a car on finance?
No, you cannot do that. The car belongs to the financing company until you make all the payments, so you cannot change the name on the contract until then. And even if you find it hard to make payments and want to sell your car, it is impossible to do so.
Can I insure a company car in my name?
In the majority of cases, company cars are insured by the company who owns or leases them, usually under a motor fleet, multi-driver policy. ... However, it's not impossible to get private insurance for a company car and some insurers will cover leased vehicles, providing the lease is for a minimum of 12 months.
Can I insure my daughters car in my name?
Can I insure it under my name? Yes, you can if you're the registered owner of the vehicle. Your child should be listed as a driver.
Can my partner get car finance for me?
No, unfortunately your partner can't apply for car finance on your behalf. Every car finance agreement is tailored to the borrower, and the lenders on our panel ask that the person taking out the loan is also the car's registered owner/keeper and its main driver.
Can you change the name on a car finance agreement?
Unfortunately, you won't be able to swap names on your car finance agreement because it was originally made in your name and based on your credit profile and personal circumstances.
Can you add someone to your car insurance without being married?
Yes, if you share a car. If you are living together and sharing a vehicle, you do not have to be married to be on the same car insurance policy. ... But each can be listed as a driver on the other's policy. Adding another person to your auto insurance policy may raise your rates, depending on their driving history.
Does my boyfriend need to be on my car insurance?
Answer: Though it may seem odd to you, it's not unusual for a car insurance company to require someone to be placed on your car insurance policy if the insurer has found (according to their rules) that this person drives the insured car enough to be considered a regular (or occasional) driver.
Can I put my boyfriend on my car insurance?
Yes, you can add your girlfriend or boyfriend to your car insurance. Generally, if you and your significant other live at the same address, your car insurance company will consider them a member of your household and request that you add your boyfriend or girlfriend to your car insurance policy.
Can you transfer finance to another person?
Normally, loans cannot be transferred to another person, especially personal loans. This is because personal loans are determined on a number of individual factors such as your credit score.
Can I finance a car and put it in my wife name?
When you get a car loan, the lender wants to see your name on the title and registration. But what you can do is put both your name and your spouse's name on the title. If you decide to do this, you shouldn't have any problems getting the loan, nor will your spouse be responsible for the payments on the loan.
Can someone insure a car that is not in their name?
Generally, no. A person cannot get an auto insurance policy on a car that they do not legally own unless they can prove to the insurance company that they have an insurable interest in the vehicle.
Can I get car insurance in my mom's name?
Yes, you'll need your own policy if you own your car, even if you live in your parents' house. ... Getting your own policy for a car that's registered to you with your name on the title is the only way you'll be able to have insurance for that car.
Can I use my parents car insurance?
Unlike health insurance, there is no age limit when it comes to car insurance. As long as your parents' home is your permanent residence, you can remain on their insurance as a listed driver.
Can I drive my dads car?
Can I drive my parents' car without insurance? ... You must be properly insured if you drive on the public road, no matter how short the distance, even if your parents have given their permission for you to drive the car, and even if they have their own insurance policy covering the vehicle.
How long can I stay on parents car insurance?
You can stay on your parents' car insurance as long as you still live with them or go to school full-time. There is no age limit for how long you can be covered by your parents' auto insurance policy, unlike health insurance.
Can my daughter be on my car insurance if she doesn't live with me?
Generally, car insurance companies don't allow policyholders to add people who don't live in the same household as them to their policy, but it varies based on the case. ... But if they don't live with you, you likely won't be able to add them to your car insurance.
Can I stay on my parents car insurance after 26?
Regardless of age, you can stay on your parents' car insurance policy as long as you live at their house. It can be a good way to save money until you're old enough to be out of the high risk years of your teens and early 20s.
Can a married couple finance a car together?
In order to jointly apply for an auto loan, lenders typically require a co-borrower to be a spouse. When you jointly apply for a car loan, both you and your spouse agree to take responsibility for the loan.