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Does It Matter Who Has Car Insurance As Long As Its Is Insured?

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Does It Matter Who Has Car Insurance As Long As Its Is Insured?

Postby Yorath » Tue Sep 12, 2017 6:23 am

YES.


You did not tell us what state you live in, and state laws vary from state to state.
But we can answer this in a general way.


To insure a vehicle, you must have an "insurable interest." That means you must be the owner of the vehicle.
Some states also have some requirements about listing various drivers on the policy too.
I don't know what is required in your state.


==============

I handled a claim in Minnesota for a guy's car that had been in an accident and totaled his vehicle.
(His son was driving the car at the time.) And now he wanted to collect on a total loss settlement from me.
And he had to sign off on the vehicle title and send it to me before I could pay the claim.
That's when I found out the car was actually owned by his adult son.
Because the adult son had a very bad driving record (intoxicated driving), it was hard to get insurance, so they cooked up this scheme to have his dad buy the insurance.


Because the named insured (meaning the dad) did not have an "insurable interest," we CANCELLED his insurance policy, and back-dated the cancellation to the inception date on the policy.
And then we refunded his premium.
So we did not pay for his total loss.
And we closed the claim with no payment.


I do not know if this answers your question.
You did not give us any CONTEXT for your question, so I am not sure what you are looking for.
Yorath
 
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Does It Matter Who Has Car Insurance As Long As Its Is Insured?

Postby lapidos » Thu Sep 14, 2017 5:03 am

Yes it matters as you need to list the drivers on the policy. If it didn't matter, then everyone would simply have their grandmother listed on the policy so that everyone can get the cheapest rates.
lapidos
 
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Joined: Mon Jun 17, 2013 1:58 pm

Does It Matter Who Has Car Insurance As Long As Its Is Insured?

Postby Waldron » Sat Sep 16, 2017 8:15 am

YES AS ITS MORE EXPENSIVE FOR HIGHER RISK DRIVERS,
Waldron
 
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Joined: Wed Jan 22, 2014 5:51 am

Does It Matter Who Has Car Insurance As Long As Its Is Insured?

Postby Werner » Sat Oct 07, 2017 6:16 pm

Could you clarify? If You're asking about driving a car that insured by the owner but you are driving it without insurance it depends on their policy. Alot of policy's will cover the uninsured driver on an insured drivers car. But in the case of an accident it will reflect on the person who has insurance whether or not they were driving in regards to the premium rising.
Werner
 
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Joined: Tue Jan 14, 2014 10:37 pm


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