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Insurance/Logbook Question

  • 30-09-2013 9:00pm
    #1
    PurvesGrundy
    Closed Accounts Posts: 532 ✭✭✭


    Is it generally possible for a person to have a main policy on a car that is in somebody else's title or are there obstacles to be overcome with all insurers?

    Lets say a young person owns a car in their name; can the mother/father have the main policy on that vehicle and the owner be a named driver?


Comments

  • #2
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    No, the owner must be the insured


  • #3
    bazz26
    Registered Users, Registered Users 2 Posts: 51,363 ✭✭✭✭bazz26


    Most insurance companies insist the main policy holder has an "insurable" interest in the vehicle, i.e. the registered owner.


  • #4
    PurvesGrundy
    Closed Accounts Posts: 532 ✭✭✭PurvesGrundy


    oldyouth wrote: »
    No, the owner must be the insured
    bazz26 wrote: »
    Most insurance companies insist the main policy holder has an "insurable" interest in the vehicle, i.e. the registered owner.

    I see, I see.

    Driving a 1998 Volvo S70 at the moment and was considering replacing it with a '00 C70. I'm now thinking I may just downsize to a fun little car like a Ka and get a few years no claims under my belt with my own policy.

    Thanks.


  • #5
    CiniO
    Registered Users, Registered Users 2 Posts: 16,069 ✭✭✭✭CiniO


    bazz26 wrote: »
    Most insurance companies insist the main policy holder has an "insurable" interest in the vehicle, i.e. the registered owner.

    Which doesn't make much sense in case of thrid pary only policies, but it doesn't change a fact that they still do.


  • #6
    CiniO
    Registered Users, Registered Users 2 Posts: 16,069 ✭✭✭✭CiniO


    PurvesGrundy wrote: »
    Is it generally possible for a person to have a main policy on a car that is in somebody else's title or are there obstacles to be overcome with all insurers?

    Lets say a young person owns a car in their name; can the mother/father have the main policy on that vehicle and the owner be a named driver?

    Most insurers allow vehicle to be registered in name of policy holder or his/her spouse.


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  • #7
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    CiniO wrote: »
    Which doesn't make much sense in case of thrid pary only policies, but it doesn't change a fact that they still do.

    Makes total sense. It impose on the owner a duty to ensure the vehicle is roadworthy and not a danger to other road users. It imposes a responsibility on the owner as to where and how the vehicle is used


  • #8
    djimi
    Registered Users, Registered Users 2 Posts: 13,237 ✭✭✭✭djimi


    CiniO wrote: »
    Which doesn't make much sense in case of thrid pary only policies, but it doesn't change a fact that they still do.

    Well you still stand to gain financially from the policy, even if they wont repair damage to your car (they are still paying out on your behalf in the event of a third party claim), so you would still require an insurable interest in the vehicle that is being covered.


  • #9
    ThisRegard
    Closed Accounts Posts: 27,833 ✭✭✭✭ThisRegard


    As always with things like this, ring your insurance company for confirmation.

    If the car is owned by a spouse then it may be fine, both cars in our house are in my wifes name because a garage made a mistake with the name when sending the form off to Shannon. Rather than get it changed we just left it and the insurance company is fine with having me as the main driver on this. If it's just a parent, friend or whatever, probably not likely.


  • #10
    CiniO
    Registered Users, Registered Users 2 Posts: 16,069 ✭✭✭✭CiniO


    djimi wrote: »
    Well you still stand to gain financially from the policy, even if they wont repair damage to your car (they are still paying out on your behalf in the event of a third party claim), so you would still require an insurable interest in the vehicle that is being covered.

    It doesn't really make sense to me.
    Firstly you shouldn't gain financially from any insurance claim. All they will do is to pay to third party for damage you caused.
    In case of motor insurance this damage was caused by you driving a car. And fact who owns this car is completely irrelevant here IMO, because it's you who caused damage, not the car.

    Even look at driving other cars extensions.
    It allows person to drive other car which he doesn't own. So he has no insurable interest in that vehicle. But for some reason the allow it.


  • #11
    CiniO
    Registered Users, Registered Users 2 Posts: 16,069 ✭✭✭✭CiniO


    oldyouth wrote: »
    Makes total sense. It impose on the owner a duty to ensure the vehicle is roadworthy and not a danger to other road users. It imposes a responsibility on the owner as to where and how the vehicle is used

    It's the drivers responsibility to ensure that vehicle is roadworthy - not the owner.
    I can be the owner of vehicle and no one is stopping me from having it completely wrecked on my driveway.
    It's the person who drives it who is responsible that vehicle is roadworhty.


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  • #12
    djimi
    Registered Users, Registered Users 2 Posts: 13,237 ✭✭✭✭djimi


    CiniO wrote: »
    It doesn't really make sense to me.
    Firstly you shouldn't gain financially from any insurance claim. All they will do is to pay to third party for damage you caused.
    In case of motor insurance this damage was caused by you driving a car. And fact who owns this car is completely irrelevant here IMO, because it's you who caused damage, not the car.

    Even look at driving other cars extensions.
    It allows person to drive other car which he doesn't own. So he has no insurable interest in that vehicle. But for some reason the allow it.

    Gain financially was probably the wrong way to put it. Basically, be it a claim on your own car or a third party claim, the policy is ensuring that you are not out of pocket as a result of the incident. In Ireland we insure the vehicle, not the driver, therefore the person who holds the policy must have an insurable interest in the vehicle being covered, even if it is just for third party claims, as it is covering for claims made against said vehicle.

    Third party extsension is, in effect, the insurance companies bending their own rules, which I guess is their prerogative to do.


  • #13
    CiniO
    Registered Users, Registered Users 2 Posts: 16,069 ✭✭✭✭CiniO


    djimi wrote: »
    Gain financially was probably the wrong way to put it. Basically, be it a claim on your own car or a third party claim, the policy is ensuring that you are not out of pocket as a result of the incident.
    That's right.
    In Ireland we insure the vehicle, not the driver,
    That's not really true.
    In Ireland we insure a vehicle and driver (combination), and as above they often allow policy holder to drive other vehicles.
    So IMO it looks like more that in Ireland we insure a driver, who needs to specify on which vehicle he wants to be insured.
    Hence that you can always swap a vehicle on your policy, but you can't swap the policy holder - it literally means that policy is attached to the driver - not the car.

    System where you insure a vehicle - not the driver - works in Poland f.e.
    It's said clearly by Law there, it's vehicle owner responsibility to purchase third party insurance for the vehicle. And this insurance covers any damage made with this vehicle, no matter who was driving it. This is system where you insure a vehicle, not driver. In Ireland it's nearly opposite.
    therefore the person who holds the policy must have an insurable interest in the vehicle being covered, even if it is just for third party claims, as it is covering for claims made against said vehicle.

    Third party extsension is, in effect, the insurance companies bending their own rules, which I guess is their prerogative to do.

    Those two are pretty much contradicting each other IMO.
    I don't think insurance companies are bending their own rules. I don't think there are any rules about it. I don't see any point in having insurable interest in the vehicle, when it comes to third party claims only, and looks like insurance companies don't see it either as third party extension is best example they don't.


  • #14
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    CiniO wrote: »
    It's the drivers responsibility to ensure that vehicle is roadworthy - not the owner.
    I can be the owner of vehicle and no one is stopping me from having it completely wrecked on my driveway.
    It's the person who drives it who is responsible that vehicle is roadworhty.
    But the driver doesn't have the option to effect essential repairs to another person's vehicle to ensure it is safe to drive. The owner does.


  • #15
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    CiniO wrote: »
    It doesn't really make sense to me.
    Firstly you shouldn't gain financially from any insurance claim. All they will do is to pay to third party for damage you caused.
    In case of motor insurance this damage was caused by you driving a car. And fact who owns this car is completely irrelevant here IMO, because it's you who caused damage, not the car.
    .

    A more correct word to use would be benefit rather than gain, but that is just language. Secondly, the manner in which a vehicle is driven does not cause all accidents. As I've stated already, the condition of the car can be the proximate cause. Even with regular maintenance, some defects in a vehicle can be reasonably unforeseen, that is why responsibility rests with the owner and implies an insurable interest


  • #16
    private
    Registered Users, Registered Users 2 Posts: 107 ✭✭private


    Am having issues with car insurance for my child minder who is 35. Have bought a car for her to drive/ pick up my child to/from school but am having trouble finding the best way to insure it. As a named driver on in her own name.

    I don't drive!

    She can go on my Dad's insurance ( as a named driver) as the log book has just arrived in his name or I can transfer ownership to her and she can apply for her own insurance. His current insurance company is not suitable as it is a group scheme so I'm looking at my options.

    Is there any other options? Which might possibly be the cheapest? Here insurance in Romania is on the car not the person so she is not insured to drive here.

    Where do EU nationals get the best quotes from? Some companies must be more international and have her insurance records from her time in Romania. Thanks for any help!


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