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Aviva - Car finance question when getting insurance quote

  • 04-01-2012 6:44pm
    #1
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,733 ✭✭✭✭
    M


    Was shopping around for quotes today and noticed a new question I hadn't come across before on any of the other sites when looking for a quote...
    Do you have outstanding finance on your car?
    No
    Yes - Car Loan
    Yes - Lease

    Is this new in that they can make assumptions down the line that you could be more motivated to commit fraud if you had finance outstanding than if your owned your car outright?


Comments

  • #2
    MugMugs
    Registered Users, Registered Users 2 Posts: 17,875 ✭✭✭✭MugMugs


    Nah. It's a pain in the ar$e the way it is.

    If a finance company have an interest on a vehicle and your insurer pay YOU directly for your loss and the finance is outstanding then the insurer is still liable to compensate the finance company too!

    Insurers have to run checks for finance pre policy holder settlement and this is just a way of cutting down on that.


  • #3
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,733 ✭✭✭✭Atlantic Dawn
    M


    Yes makes sense about the liability, same as someone purchasing a car with finance outstanding. Should be asked by them all at time of renewal, hadn't seen it online or asked it over the phone before.


  • #4
    MugMugs
    Registered Users, Registered Users 2 Posts: 17,875 ✭✭✭✭MugMugs


    First I've heard of it too. Makes sense.


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