Does Car Insurance Have To Be In Owners Name?

  1. 730 POINTS
    Darald Novak AAI
    Retired Agent and Broker, Self Employed, Albany NY USA
    When you lease a car you do not hold the title so you are not the 'owner' of the vehicle. Your lease may require you to provide insurance on the vehicle. Your policy (in your name) names the lessor as additional insured for liability coverages and loss payee for physical damasge coverages. If an individual holds title to the vehicle and you want to insure it, you will most likely have to register the vehicle in your name (a form from the state's DMV authorizes this) and obtain insurance to cover your registration and plates. In this instance you would also name the individual title holder as additional insured for liability and loss payee for physical damage. If they have a lienholder on the vehicle you will have to include the lienholder as first loss payee and the individual as second loss payee. Chec k with a knowledgeable agent or broker who writes auto insurance for specific details. Your state's DMV can also provide information. Maske sure an insurance carrier will underwrite the policy should you want to insure a vehicle you do not hold the title to.
    Answered on June 16, 2014
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  2. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    In Connecticut, the car insurance policy needs to be issued in the same name as that which appears on the car's title and registration.  If you happen to have a car loan or are leasing, those interested parties will be listed on your policy in accordance with their particular requirements.
    Answered on June 16, 2014
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