Insurance and logbook name?

Karen23

My husband has been the main driver on our car insurance for the last 15+ years with me as name driver , just one family car driven by both of us but the log book was always in his name.

We recently bought a new car but the new one is registered to me, reason for this is the car was bought with a special rate car loan I got from the credit union and they require proof of purchase so we put it in my name for that purpose.

Do we need to tell the insurance company the main driver is not the registered owner of the car ?
Will it make a difference ?
Should we transfer the log book into his name ?

bazz26

Most insurance companies treat spouses as one insurable entity so it may not matter which one of you is the main policy holder. I'd still let the know however.

mikeecho

To insure any item you must have what is refered to as "insurable interest "

Ie. You must stand to be at a loss , due to the result of a claim.

If you don't own it , you're not at a loss, as it's not your property., however if the registered owner of the car has you listed as a named driver, then they will be compensated as they have paid a premium to be compensated in the event of another person using their vehicle with their permission.

Insurable interest : an example.. me insuring my neighbours house... it burns down.. I'm not at a loss... so why should I be compensated.

Eggs For Dinner

Tell the insurer it is registered in your name, it won't affect your policy (spousal situation only)

Del2005

For married couples with 1 vehicle you should be swapping the main driver every year, that way you both build NCDs if you need a 2nd vehicle.

mikeecho

Del2005 wrote: »

For married couples with 1 vehicle you should be swapping the main driver every year, that way you both build NCDs if you need a 2nd vehicle.

Excellent Post.