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Own 2 cars but only insured on 1, wife on other?

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  • 11-01-2019 1:43pm
    #1
    spakman
    Registered Users Posts: 1,124 ✭✭✭


    Hi,

    I have a new 191 car which I have insured in my name.
    I am planning to keep the old car in my ownership and my wife has transferred her policy to that car with me as named driver (the car she was previously insured on is scrapped).
    My insurance company have asked me to sign a declaration saying I have sold my old car and no longer own or have usage of it.
    Anyone know why they would have this stipulation!? Is there a reason I couldn't own 2 cars?


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    #2
    galwaytt
    Registered Users Posts: 12,776 ✭✭✭✭galwaytt


    you need to put the other car in your wife's name and there's no problem.

    Tbh, there is more likely to be an issue her insuring a car NOT in her name as well..............it's called 'insurable interest'

    https://www.allianz.ie/blog/insurance-explained/what-is-insurable-interest.html

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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    #3
    [Deleted User]
    Posts: 0 ✭✭✭ [Deleted User]


    spakman wrote: »
    Hi,

    I have a new 191 car which I have insured in my name.
    I am planning to keep the old car in my ownership and my wife has transferred her policy to that car with me as named driver (the car she was previously insured on is scrapped).
    My insurance company have asked me to sign a declaration saying I have sold my old car and no longer own or have usage of it.
    Anyone know why they would have this stipulation!? Is there a reason I couldn't own 2 cars?

    You can own two cars, but most if not all insurance companies will ride you on a second car.


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    #4
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    spakman wrote: »
    My insurance company have asked me to sign a declaration saying I have sold my old car and no longer own or have usage of it.
    Anyone know why they would have this stipulation!? Is there a reason I couldn't own 2 cars?
    Never heard of it before, but if you're transferring your policy from one car to another permanently, then it's probably to avoid any scenario later on where you have an accident in the old vehicle and try to claim off the policy.

    As said, transfer the car into your wife's name and you solve another potential issue.

    Strictly speaking the "insurable interest" thing is not a problem since legally your property is pooled with your spouse's, but putting the car in her name will stop any arguments with an insurance company.


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    #5
    spakman
    Registered Users Posts: 1,124 ✭✭✭spakman


    seamus wrote: »
    Never heard of it before, but if you're transferring your policy from one car to another permanently, then it's probably to avoid any scenario later on where you have an accident in the old vehicle and try to claim off the policy.

    As said, transfer the car into your wife's name and you solve another potential issue.

    Strictly speaking the "insurable interest" thing is not a problem since legally your property is pooled with your spouse's, but putting the car in her name will stop any arguments with an insurance company.


    Thanks all. Yeah, I thought transferring ownership to wife would be the easiest solution, but was just curious as to why the insurance company wanted this in the first place.


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    #6
    uck51js9zml2yt
    Closed Accounts Posts: 18,268 ✭✭✭✭uck51js9zml2yt


    Just to note that she needs to have her own policy on the other car if she has her own policy already. Otherwise she'll loose her NCB.

    I bought a car for my wife recently and put it in her name so she could get insurance in her own name. 10years as a name driver claim free didn't help with the quote!


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    #7
    Marcusm
    Registered Users Posts: 10,350 ✭✭✭✭Marcusm


    spakman wrote: »
    Thanks all. Yeah, I thought transferring ownership to wife would be the easiest solution, but was just curious as to why the insurance company wanted this in the first place.

    They’ve issued a policy cert and disc for the full year on that car. They want to be certain that you are not still driving it around in circumstances where they could be exposed to a claim.


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    #8
    spakman
    Registered Users Posts: 1,124 ✭✭✭spakman


    Marcusm wrote: »
    spakman wrote: »
    Thanks all. Yeah, I thought transferring ownership to wife would be the easiest solution, but was just curious as to why the insurance company wanted this in the first place.

    They’ve issued a policy cert and disc for the full year on that car. They want to be certain that you are not still driving it around in circumstances where they could be exposed to a claim.

    Different insurance company


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