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am i insured??

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My boss owns 2 vans which he has company insurance on, I am insured on them both, he was going to get rid of one so i have bought it off him. He has changed the v5 into my name and is carrying on …
rockerfella20 Avatar
7y, 5m agoPosted 7 years, 5 months ago
My boss owns 2 vans which he has company insurance on,
I am insured on them both, he was going to get rid of one so i have bought it off him.
He has changed the v5 into my name and is carrying on paying the insurance with out changing the policy untill it runs out in november.
Is the policy still legit or will it be void?
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rockerfella20 Avatar
7y, 5m agoPosted 7 years, 5 months ago
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#1
as long as the insurance company knows you are now the registered keeper you should be fine
#2
prob void because you are now the owner not the company (as it is on the policy), the company could ring them to change it which maybe just an admin fee of like £20
#3
Policy holder usually needs to be owner, so if policy is in his name, no not covered.
#4
No you are not as its not the companies property anymore...You should have signed it over at the end of the policy
#5
kingy58;6241418
Policy holder usually needs to be owner, so if policy is in his name, no not covered.


Not true, I insured my nieces car under my name yet she owns the car ;-)
#6
hmm so what do i do now?
#7
rockerfella20;6241479
hmm so what do i do now?


if boss man still has van listed on his insurance docs then you're still insured but check with insurance company the level of the insurance
#8
rockerfella20
hmm so what do i do now?


ring the insurance and explain it to them, you are named on the policy so you are still insured to drive it, like I said as long as they know you are now the registered keeper you shouldn't have any problems, same situation my ex was in with his cousin and it was ok for them :thumbsup:
#9
michelleleemoo
ring the insurance and explain it to them, you are named on the policy so you are still insured to drive it, like I said as long as they know you are now the registered keeper you shouldn't have any problems, same situation my ex was in with his cousin and it was ok for them :thumbsup:


im not named on the insurance, its any employee.
#10
choc1969
if boss man still has van listed on his insurance docs then you're still insured but check with insurance company the level of the insurance


the vans due for mot in nov, we dont want to cancel his policy as theres only 2 months left so dont really want to ring them incase they cancel it automatically and i dont want to start a new policy incase it needs loads of work doing in its mot as im not going to spend a fortune on it as it has 125k on the clock.
#11
rockerfella20
im not named on the insurance, its any employee.


right, im not sure if ex's cousin was named either, ex has a recovery company and his cousin was employed and on his insurance, he sold him the truck he was using and told insurance and still paid the insurance, in fact when the automatically renewed it he ended up paying another year of it :roll: best to get yr boss to ring and see for sure, as you are still an employee it may still stand, best to ring, all insurance companies and policies are different, you'll get a definate answer :thumbsup::thumbsup:
#12
michelleleemoo
right, im not sure if ex's cousin was named either, ex has a recovery company and his cousin was employed and on his insurance, he sold him the truck he was using and told insurance and still paid the insurance, in fact when the automatically renewed it he ended up paying another year of it :roll: best to get yr boss to ring and see for sure, as you are still an employee it may still stand, best to ring, all insurance companies and policies are different, you'll get a definate answer :thumbsup::thumbsup:


im self employed too so not sure if that would make a difference?
1 Like #13
rockerfella20
im self employed too so not sure if that would make a difference?


but in relation to this vehicle and its insurance you are an employee surely, ring them its the only way you will know and to tell the truth if there's only 2 months left on the policy the most they can do is put the remaining premium up as the details have changed, its got to be worth it as not worth trying to avoid being legitimately insured for the sake of a couple of quid :)
#14
michelleleemoo
but in relation to this vehicle and its insurance you are an employee surely, ring them its the only way you will know and to tell the truth if there's only 2 months left on the policy the most they can do is put the remaining premium up as the details have changed, its got to be worth it as not worth trying to avoid being legitimately insured for the sake of a couple of quid :)


cheers, good advice i recon. not worth the risk. will speak to my boss tomorow. see what he says.
#15
rockerfella20
cheers, good advice i recon. not worth the risk. will speak to my boss tomorow. see what he says.


hope you sort it :thumbsup:
1 Like #16
I thought I'd add a couple of comments as I used to work in insurance and this question came up alot.

You can insure a car you don't own (your wife's, mother's, neice's etc) as long as you would be financially liable in the event that you crashed it.

In this case, you are trying to have your boss insure a van in which he has no financial interest (if you crash it, he won't lose the cost of the van). This is never allowed. It's like me insuring my neighbour's car and then asking the insurers to give me £5000 when he wraps it around a lamppost ... why should I get any money for something I don't own?

Now that the boss has sold the vehicle to you, his policy is no longer valid and the van is now uninsured (though he'll be able to use the remainder of the policy on a new vehicle).

You won't be able to put his insurance in your name ... the best you can do is start a new policy in your name.

Al
1 Like #17
marble
I thought I'd add a couple of comments as I used to work in insurance and this question came up alot.

You can insure a car you don't own (your wife's, mother's, neice's etc) as long as you would be financially liable in the event that you crashed it.

In this case, you are trying to have your boss insure a van in which he has no financial interest (if you crash it, he won't lose the cost of the van). This is never allowed. It's like me insuring my neighbour's car and then asking the insurers to give me £5000 when he wraps it around a lamppost ... why should I get any money for something I don't own?

Now that the boss has sold the vehicle to you, his policy is no longer valid and the van is now uninsured (though he'll be able to use the remainder of the policy on a new vehicle).

You won't be able to put his insurance in your name ... the best you can do is start a new policy in your name.

Al


oh. so i best ring them and get it sorted then. could he not transfer me as owner and me carry on the payments? or would that require a new policy?

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