Change of vehicle ownership

salad17

Hi all,

Do I have to tell my insurance company if I'm changing vehicle ownership?

Currently I am insured and my father is insured as a named driver on the same policy, I am selling him the car and putting it in his name, does this change/affect my insurance at all?

If I do have to let them know will it have any bearing on my insurance?

Thanks

Cows Go µ

You will no longer be the owner of the car so you can't insure it. Your father will have to take out a policy in his own name.

Sue Pa Key Pa

Do not drive the car when you change ownership unless you are named as a driver on the policy HE takes out on the car

NUTLEY BOY

salad17 wrote: »

Hi all,

Do I have to tell my insurance company if I'm changing vehicle ownership?

Currently I am insured and my father is insured as a named driver on the same policy, I am selling him the car and putting it in his name, does this change/affect my insurance at all?

If I do have to let them know will it have any bearing on my insurance?

Thanks

In general terms, if you sell the car you lose what is called your insurable interest. Insurable interest is the legal right to insure any particular subject matter. If you do not possess insurable interest any policy that you take out may well be invalid.

I say "may" because insurable interest can arise in many ways. However, for purposes of motor insurance take it that transfer of ownership effectively terminates your insurable interest with immediate effect.

grogi

NUTLEY BOY wrote: »

In general terms, if you sell the car you lose what is called your insurable interest. Insurable interest is the legal right to insure any particular subject matter. If you do not possess insurable interest any policy that you take out may well be invalid.

Your correct about the Insurable Interest. However one retains the Insurable Interest in relation to any third party liability insurance. You have one regardless whose car you're driving.

NUTLEY BOY

grogi wrote: »

Your correct about the Insurable Interest. However one retains the Insurable Interest in relation to any third party liability insurance. You have one regardless whose car you're driving.

Quite so.

That is a good example of insurable interest created by statute i.e. S.56, RTA 1961.

grogi

NUTLEY BOY wrote: »

Quite so.

That is a good example of insurable interest created by statute i.e. S.56, RTA 1961.

I cannot simply forget the points (5) and (6), which mention the servants. Different times it was written.

Nevertheless, I am not aware of any insurer in Ireland that offers a TPL insurance for non-vehicle owners. They simply decide not to do so, and not because the user would not have insurable interest.

salad17

Thanks for the replays.

To update ye, I rang the insurance company and asked and at first they just gave me a blank "no, that's impossible" but then they confirmed our details and put it through, I think what made it doable was that I was still the primary user of the vehicle.