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Can I put insurance on a car that is not in my name?


Question

Hi my name is Danny. Been driving tractor trailer 27 years i have a very clean driving record . My question is i want to put insurance on a car, but the car is not in my name because cannot afford to buy a car right now, if i can insure this car i can use it for work.

Thank You

Dan

Posted by Guest on 2010/02/26 10:18:57

Yes, you can be insured to use a car that is not registered under your name, and if you have a car but cannot drive it, you can get insurance for it so that someone else can drive it.

However, auto insurance policies must be purchased by and listed under the registered owner of the vehicle.

The primary driver of the car does not need to be the person who owns it. In fact, it's possible to have a policy where the person who owns the vehicle isn't even listed as a driver (typically because they are not able, or allowed, to drive it because they do not have a valid licence).

One thing to keep in mind is that the person who registers the vehicle must be the actual owner. If they are not the "actual" owner then there is no insurable interest. Insurance interest means that the owner has something to lose if the vehicle is damaged, stolen, etc. If this is not the case, it is impossible to form a legal insurance contract. eg. Putting the vehicle in your friend's name although he has nothing to do with the vehicle and you paid for it.

Sean Graham, Principal Broker at KTX Insurance Brokers.

Neither Kanetix® nor the KanetixForum.ca is an insurance broker or agent. Although this information has been passed along to you from KTX Insurance Brokers through the Forum, we are not responsible for the opinions expressed by them. Insurance can be complicated. When reading these answers, keep in mind each person's situation is unique. Individual responses may vary depending on your insurer, geographic location, and specific circumstances. If you have a similar situation, always speak with your insurance provider, or a licensed insurance representative, for terms and conditions that may apply to you.

Posted by Guest on 2010/02/26 10:20:11

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