Car Insurance On Ford Options Pcp Or Any Finance Secured On The Vehicle - Owner & Registered Keeper

[DunkPoole]

I will be collecting my new Titanium again on another 24 month Options Cashplan in a couple of weeks and intend to just swap vehicles with my current insurance company Tesco. Whilst looking at the website it states you or your partner must be the owner and registered keeper in the assumptions. With all Finance deals the Finance company is the legal owner until the last payment is made. I have checked out lots of insurance websites this evening and there is never an option in the owner drop down box to cover cars on Finance (which must be the majority) the nearest is Personal Lease (which is different from Options) or a Company. If you put this in on line most sites wont quote at all.

Hopefully my mind will be put at rest when I phone my insurance company to clarify tomorrow. Has everyone on finance incorrectly said they are the owner & registered keeper when they took out insurance ? I did mention it to Tesco when I took out my current insurance on my Fiesta in 2011 and I said the legal owner is Ford Credit for the two years i'm on Options and Tesco said but you are the owner so I'm a bit confused !

You have to be so specific with Car Insurance these days and none of the Insurance websites I have looked at this evening have any notes or explanation of Owner definitions in relation to HP or PCP Finance.

[Bede.]

As long as you/or your partners name is the first and only name on the logbook (V5) documents it's fine (Assuming the vehicle is brand new). Alot of people don't know about this.

-if it's not brand new.. make sure the finance company arn't the registered keepers. they shouldn't be due to address/insurance purposes and so on.

[MattDRX]

Generally they have an option to state it's on lease, that way in the event of a write off they know to pay the lease company

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[BeccaaCat]

You'll be the registered owner and keeper of the car. It's a bit strange, but a bit like a mortgage. It is yours, as in it is your asset in your name, but the finance company have the right to reclaim your assets from you if you don't pay

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