CAN I INSURE A CAR I DON'T OWN?

Most often, insurance companies require people to insure vehicles under their names. However, there are certain situations where you may want to insure a car, which is not registered to you.

Can you insure a car you don't own or without the title being in your name? 

The simple answer to this question is, "yes, you can insure a car you don't own." However, it depends on the insurance company and the situation.

A person with no financial stake in the car has no reason to insure it. Most insurance companies are careful about this because they want to reduce the risks of fraud. In today's article, we will delve into this subject and give you the most authentic information. Read on!

When can I insure a car I don't own?

Insuring a car you don't own is not common and may involve unwillingness or refusal from the company to insure you. However, there are certain situations where you can insure a vehicle without the title in your name.

For instance, you can insure a car when you have an insurable interest or when you add the car owner's name to the policy. Companies will insure you if you take out a non-owner's policy or if the car owner tells the insurance company to add your name to the policy. The insurance company will also allow you to insure the car if you share the same address as the car owner.

When I can't insure a car I don't own?

Sometimes, it is impossible to insure a car you don't own or not in your name. For instance, if you don't have an insurance interest, the company won't allow you to insure the vehicle.

If you don't have a driving licence or are not legally allowed to drive the company will reject your application. The car owner not giving you permission is another instance you can't insure it.

How to insure a car I don't own?

First, the car owner will inform the insurance company that he or she would like your name added to the policy. The insurance company will request you to visit the office and sign the document or carry out the necessary steps to authorise you to use the insurance policy.

Remember, this option has several advantages, including ease and affordability. However, the insurance company will confirm your address, and if it is not the same as the car owner, they will reject the application.

Another way to insure a car is by adding the owner's name to your policy. So, it is you who are insuring the car and holding the policy. The company will only allow this with the permission of the car owner. Bear in mind that this option can lead to raised premiums.

Moreover, you can also co-sign on the car title as co-owner and apply for its insurance. However, this depends on your relationship with the person who owns the car. This option is convenient because you become a legal owner of the car and can take out a policy on it.

When you become a co-owner of the car, you can prove an insurable interest in the car. Although this is a good option, most people don't share half-ownership of their vehicles.