insurance claim help
12-07-2012, 09:40 PM
#1
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insurance claim help
After some advice or anyone had anything similar,got a claim goin through at month and my insurance is about to pay out,the car is registered in my name on log book,but it has outstanding finance in my wifes name,and they have HPI'd it and want finance details,will they still pay off the finance even though its not in my name? Hope this makes sense lol?
13-07-2012, 06:27 PM
#3
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it will depend on your policy. iirc, my policy states that i must be the owner and registered keeper. they woud possibly say your wife is the owner and may refuse to pay out on those grounds.
13-07-2012, 07:01 PM
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If paying out on a vehicle they are required to settle any finance up to the amount they are paying out.
If it's less you get the difference.
As already stated though, I hope you declared you don't own it..
If it's less you get the difference.
As already stated though, I hope you declared you don't own it..
13-07-2012, 07:39 PM
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I wouldn't have thought it would matter! Your name is on the logbook, Your wife may have bought you it, she may have taken out the finance due to your financial circumstances, etc etc!
13-07-2012, 10:03 PM
#6
in the past, the insurance have been mainly concerned in the vehicle being registered in the insurers name. It may well be that as they technically will be buying the car, they will want the finance details in order to pay them what is owed, otherwise, i would guess the finance could then chase them for settlement should you not pay it off?
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