According to Insure, a vehicle can be insured under the name of a person who is not the owner of the vehicle. The insurance process becomes difficult when the insurance policyholder is not a title holder and does not reside with the owner of the vehicle.Continue Reading
Insure explains that an insurance provider requires the policyholder to demonstrate insurable interest in the vehicle. This means that the policyholder must suffer financially if the vehicle is damaged or totaled in an accident. Otherwise, there is less incentive to protect the property.
Insure advises to purchase the vehicle or transfer the title from the owner to make insuring the vehicle less complicated.Learn more about Vehicle Insurance
A person who owns a classic car should purchase an agreed value insurance policy, in which the car owner and the insurance agent agree on the value of the car and write it into policy as the amount paid in case of a total loss, notes HowStuffWorks. Classic car owners who want lower premiums can choose stated value insurance policies, states About.com.Full Answer >
According to Car Insurance Comparison, a vehicle can be added to an auto insurance policy even if the vehicle is not in the policy holder's name. This is a very common practice.Full Answer >
A person with comprehensive car insurance should check with her insurance provider to find out if she is fully covered while driving a vehicle owned by someone else. Some comprehensive car insurance policies include extended coverage, but a driver should never assume she is automatically covered.Full Answer >
When choosing a commercial truck insurance policy, a business owner should select a policy that covers the driver and includes coverage for physical damage, cargo and primary liability, suggests Insurance Truck. Accident coverage, garage liability and general liability are also vital coverage. It's important to study a policy's terms and conditions thoroughly and avoid settling for inadequate coverage. Other crucial factors to consider include the insurance provider's reputation, years of operation and insurance quotation.Full Answer >