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Can I insure a vehicle I don’t own?

Many of our clients are asking this question lately, so we wanted to address the issue. The short answer is no. You have to own the item in order to obtain an insurance policy.

This issue comes up is when a child of the insured wants to get a car in their own name and have the vehicle added to their parents policy. As the policy is the parents, most companies will not insure a car that is owned by their child.

Some companies that allow two named insureds, allow a child of the insured to insure their car under the parents policy. This will allow the vehicle to be registered at DMV. However at the time of a claim, there could be an issue with the company when they issue the claim check.

The best way to solve any of these problems is having an insurance policy in the owner’s name.