Car ownership change and insurance cover

markgargan78

Hi there, I need to change ownership of my car from my name to the friend I've sold it to. Will the current insurance keep while the car is in the process of the changing hands? If so, how long before my friend has to take out their own insurance?

Thanks,

Mark.

fineso.mom

If your friend intends to drive the car as soon as they take possession of it, they will need their own insurance. They cannot drive it without their own insurance once they own it.

Orban6

From the moment your friend drives the car, he/she needs their own insurance. That includes test driving the car. If they have insurance on another car, they can transfer it.

This can be be done in a phone call and it's instant.

bazz26

Your friend needs to organize their own insurance cover from the moment they take possession of the car, they don't need to wait for the change of ownership to be processed. They are not covered to drive the car under the driving of other cars extension on an existing policy either as once they take possession of the car, that extension doesn't cover driving cars they own/stand to suffer a financial loss from in the event it was damaged or destroyed by them.

From your perspective you should be notifying your insurance company at the same time that you have sold the car, it's no longer in your possession so that you have no financial interest in it. Either transfer the policy over to your new car or if not replacing the car with another then either ask for the policy to be paused for a short time until you get another car or have it terminated early. You could be due some of the premium back minus an admin fee if you paid it in full up front.

markgargan78

Thanks very much for the answers everyone. I put him as a named driver on the car for the moment but the lady in the insurance company said he wouldn't be covered if he was the primary owner of the car which'll happen fairly lively. I'll give them another shout in the morning and make sure once he's taken out his own insurance that he's covered during the transition. Thanks again for the information, I appreciate it.

Thanks,
Mark.

Buffman

https://www.boards.ie/discussion/comment/123963251#Comment_123963251

The situation sounds strange, is the car sold/has payment been made?

There is no 'transition'. Once the payment is made the car is sold and it's the new owners responsibility to insure it.

When you fill in the VRC or do the online process, the date of sale will be what they use as change of ownership, it has nothing to do with when they actually receive it. (Is there any particular reason you're delaying doing it?)

Your insurance has already advised you of the owner requirements, if you've sold the car your insurance is no longer valid as you don't own it anymore and you should cancel it or transfer to your new vehicle if applicable.

Henry Ford III

Yet again this belongs in the dedicated insurance forum.

MojoMaker

Cheap insurance scam - don't waste your time - they know them all.