Can I insure a vehicle I don't legally own? ?

Fred C

Sure, but only if you have the right-of-possession. If you have leased a vehicle, you don't own it, but you are still required to register it and carry insurance on it. If you borrow a vehicle from a friend for over 30 days, you can sign documents allowing you to register and insure in your name, with ownership remaining in the original owner's name. For instance, an employer who does not have a fleet of vehicles could give you a vehicle for your use, and sign a "right-of-possession" agreement which allows you to have the vehicle, without owning it. If you borrow a vehicle from a friend for more than 30 days, you are deemed to have care, custody and control of the vehicle, and you can sign an "agreement between parties", which also gives you the right to register and insure, and your friend still owns it. Some states and provinces may have variations on the documents, and may or may not recognize one or the other. As a broker and registrations officer in Manitoba, I handles many "agreement between parties" transactions, including parents who bought cars for their sons or daughters who didn't live at home, but didn't want to lose ownership or ultimate control of the vehicles. In the last 10 years, I think I only had two "right-of-possession" agreements.

Scott H

No. You have to have an "insurable interest" in the item insured. For example: you couldn't insure my car, because there's no loss to you if you damage it because the vehicle belongs to me. Technically, you don't own a car that is leased or financed, but you have to carry insurance on it to protect the owner's interest.

andyjpoll

you can get insurance on any car, even if you don't own it.

Example:
I just bought a car, but i got insurance on it before i got the title transfered so that i could do the title transfer and get plates/registered at the same time.

However even if you dont plan on buying it you can get insurance on it.

Gambit

Sure you can, however should you file a claim the insurance company is not obligated to pay one penny for the damages to the vehicle you're insuring. Only the owner of the vehicle can suffer financial loss from the vehicle being damaged, and if the policyholder is not the registered owner then the policyholder has suffered no financial loss so the insurer doesn't pay anything.

Bill G

car-insurance.66ghz.com - try this one. I have their car insurance and, as I know, they can provide such a service.

wlameron_123

C'est ma vie

Yes you can also register a car you don't own. However if someone else is planning to register the vehicle you will need to fill out some paperwork for DMV.

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