2007-08-01 09:12:56 · 7 answers · asked by Timothy L 1 in Cars & Transportation ➔ Insurance & Registration
I'm helpping someone get a loan for a car but their name will be on the title. Do i still have to get insurance.
2007-08-01 09:42:41 · update #1
My father cosigned for my first car and I was always on his insurance policy. He told me that because the loan was in his name, it had to be on his insurance. Hope that helps.
2007-08-01 09:23:55 · answer #1 · answered by ir_mabcab 3 · 0⤊ 0⤋
Doubtful you can get insurance for someone elses vehicle or even on the policy if you are not related and living in the same house. You had better make sure they keep the insurance current though since you co-own the car. If it gets wrecked, you still are obligated to pay for it.
2007-08-01 16:49:08 · answer #2 · answered by sensible_man 7 · 0⤊ 0⤋
It is my understanding that the person who is driving the vehicle and who parks the vehicle at their address must purchase the insurance. As a co-signer, your responsibility is to pay for the car if the other person on the note does not. All other automobile ownership responsibilities falls on the primary owner/driver.
2007-08-01 16:18:52 · answer #3 · answered by no1flcloser 1 · 0⤊ 0⤋
no, but the primary signer probably needs to add you to their policy... some insurance companies are strict on that and some don't care. When I cosigned for my car my dads insurance said i had to be added as a primary driver.
2007-08-01 16:19:48 · answer #4 · answered by Katherine 2 · 0⤊ 0⤋
I think you must... You can try to consult on some car insurance site about this problem. You can park on this site http://www.blogtunnel.com for some insurance useful information.
2007-08-02 07:04:20 · answer #5 · answered by Anonymous · 0⤊ 0⤋
No,the registered owner has to buy Ins.
2007-08-04 09:56:11 · answer #6 · answered by james m 5 · 0⤊ 0⤋