Joint car insurance policy?

notahappycamper

Hi,

So for the past 13 years I’ve been a named driver on my wife’s policy as she owned the car.

We are now trading in the car and I’m buying a new car. The current insurer Allianz is saying there is a joint policy regardless of who owns the car and would take into account her no claims bonus as the current policy holder. There would be no named drivers.

Anyone heard of this? I thought the person who owns the car had to get the policy in their name and add a spouse as a named driver or has the procedure changed?

Cyrus

https://www.boards.ie/discussion/2058296944/joint-car-insurance-policy

never heard of that,

between spouses you should really change every year in order to keep both NCB active if you are sharing a car, you dont need to own it to hold the insurance.

Henry Ford III

Regular motor insurance policies are always in the name of 1 individual.

No such thing as a joint policy.

You can have named drivers but that's different.

beachhead

Never heard of a joint policy either.Usually a main policy holder and named driver added.A new stroking event by car insurers?

notahappycamper

What it appears to be is that if you are married I can own the car yet the policy can be in her name and me as a named driver?!

notahappycamper

To quote the email I received “So once a spouse owns the car we can insurer it in either the husband or wife’s name . So in other words we can insurer the car in your wife’s name and use her bonus no problem.”

Smee_Again

That's not a joint policy, that's your wife as the policy holder and you as a named driver.

notahappycamper

Probably, but I imagined she would have had to own the car in order for the policy to be in her name. This doesn’t seem the case and something neither of us were aware of.

Smee_Again

If you're married it doesn't matter who owns the car.

My wife and I share a car which is in my name but we alternate as policy holder and named driver each year to maintain both of our NCBs.

coylemj

https://www.boards.ie/discussion/comment/120613068#Comment_120613068

The point being 'either', not jointly. In the case of a married couple, you each have an insurable interst in the life and property of the other. So it doesn't matter who is the registered owner of the car. But you were doing yourself no favour by trying to insure it in your name because it's your wife who has the no-claims bonus.

notahappycamper

Thanks. Yeah, haven’t had insurance in my name in 13 years. Have always been a named driver on her policy. Anyway, thanks for all the input. It clarifies that if you are married you don’t need to own the car to have insurance in your name (policy holder) on it.

MikeCairo78

https://www.boards.ie/discussion/comment/120613555#Comment_120613555

Insurable interest is no longer a requirement of an insurance contract since the Consumer Insurance Contract Act of 2019

coylemj

https://www.boards.ie/discussion/comment/120615331#Comment_120615331

Good luck trying to take out a policy on your 19 year old nephew's BMW M3.

MikeCairo78

https://www.boards.ie/discussion/comment/120615648#Comment_120615648

Not sure what point you are trying to make, Insurable interest is no longer a requirement of an insurance contract since the Consumer Insurance Contract Act of 2019 - that is a statement of fact.

coylemj

https://www.boards.ie/discussion/comment/120615724#Comment_120615724

Would you care to suggest what practical effect that will have on the motor insurance business?

poker--addict

Presumably, your wife cant use the no claims discount on two cars at the same time, so somewhat academic who owns cars if family has two cars, as NCD can only be leveraged against one car.

coylemj

https://www.boards.ie/discussion/comment/120776463#Comment_120776463

Read the first post again, they're trading in her car. There will only be one car in the household.

notahappycamper

All sorted. Went with Allianz policy in her name. All good. Doesn’t matter who owns the car.