The question has been asked as to whether or not somebody else can insure a car – your car – on finance, which also covers whether or not you would be able to insure a car that belongs to someone else. The answer to this question is yes – but it is not necessarily as simple as that, as we will now explain.

You can insure a car belonging to a friend or relative, but it is worth noting that whoever is paying for the car has to be named on the insurance policy. Even if a second party is planning to drive the car, whoever is going to pay the insurance provider has to be named, because in the event of an incident happening on the road, it is the person who is paying for the insurance that will ultimately be covering the cost, even if they are not the driver.

But that shouldn’t deter anybody involved. Sometimes, it could be that the driver does not have the cash to cover their insurance, hence you or whomever paying for it on their behalf, or if the car is being kept within the family, maybe it makes more sense that the original driver still pays the overall insurance as the car has always been in their name. And of course, one would expect that the actual driver will be paying their friend or relative whatever the insurance amount is, even if they are not named within the agreement.

And on that note, it is worth pointing out that, yes, somebody else can still be driving the car even if they are not paying for or named on official insurance documentation (so long as they are qualified, of course). It does not have to be restricted to one particular driver; as a matter of fact, for a family that has three or four named drivers on a car, it only stands to reason that just one name will be listed on the insurance, especially if, as noted, the vehicle has been passed down over time. So, the key is to remember that someone can insure a car that a second party is actually driving, as long as they realise that they are the one paying out on insurance and are thus named on all insurance agreements for said vehicle.

Want to know more about this topic of insurance and car finance? Call us on 01925 599079.

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