by Guest » Sun Jan 13, 2008 12:09 am
My husband has a really bad driving record. His car is leased through his company. My car is leased under his name. Is there any way to remove his name from my car to save on insurance?
Posted: Sun Jan 13, 2008 01:16 am Post Subject:
Welcome to the forum michelle, this sounds like you should call the leasing agent and see if you can remove him. I think the insurance company will want to know if he is in the household and will he still be driving the car.
There are a lot of other people on this forum and I am sure that someone else will come along soon and add their oppinion to this post. I would think the insurance company will want to know if he will be driving your vehicle or not, I think they ask for all licensed drivers in the household, pretty sure mine did when I first went to the company for insurance. I could be wrong, lets wait and see what the other folks here have to say.
Posted: Sun Jan 13, 2008 10:16 am Post Subject:
I doubt you can remove him from the leasing agreement...Because that is basically the same prequalificaton as a loan...you could (in most states even though he is a co-owner), remove him from your insurance policy by EXCLUDING him as a driver thus lower your rates substantially...BUT be fore warned if you do this this he can NEVER EVER drive that car....If he is excluded and drives it, and gets into an accident there will be absolutely no coverage for your car, or any other car or injury...understand? If you want to do that contact your agent and ask if you can exclude him from this particular vehicle.
Posted: Sun Jan 13, 2008 12:52 pm Post Subject:
There you go, I thought that was the case Lori, but was not sure, The insurance companies usually want to know about any potential drivers in the house right? I would think if they did not act in this manner that there would be a whole lot of vehicles under the best driver in the house's name, I thought about this because they are particularly interested when you have a teen in the house being a high risk driver would probably fall under that catagory. Not real sure I would let him drive the car if I was paying for it anyway. Will the leasing agent let this happen if the lease is in his name too. I would think that if he drove the car, got into an accident and the insurance company was not covering him this would be a problem for them because they have no recourse if the car is totalled out, right? They would have a great loss.
Posted: Sun Jan 13, 2008 03:58 pm Post Subject:
Some carrier won't exclude drivers that live in the same household as the state would require liability coverage to be extended even if the driver was excluded.
Posted: Mon Jan 14, 2008 09:37 am Post Subject:
Righto tcope, this is state dependent...in my state you can exclude anyone...including a spouse, i've seen some state guidelines (while researching questions for this board usually) that will not allow a spouse to be excluded....
re: lein company, they probably wouldn't even know about it to be honest...nor would they care as long as all losses were covered...again excluding one from a policy is something that should require a lot of sober thought, and making sure they NEVER driver that vehicle....it's sad when you have to deny an entire claim totaling the insured vehicle and another not to mention injuries when an excluded driver was behind the wheel! but i've seen it and had to do it....
Posted: Tue Jan 15, 2008 10:17 pm Post Subject:
The OP stated:
My husband has a really bad driving record. His car is leased through his company. My car is leased under his name. Is there any way to remove his name from my car to save on insurance?
And then Lori said:
I doubt you can remove him from the leasing agreement...Because that is basically the same prequalificaton as a loan...
And I say a couple of things: First of all- is his company car insured through his employer? If so, they must love what he's doing to the company's insurance premiums!
Secondly, if YOUR leased vehicle is in HIS hame, the lessor (the leasing company) has the right (and they will more than likely do this) to require that the lessee (your husband) prove insurance in HIS name, as that is who they have leased the car to. In order to change this, you would have to either (1) buy out his lease or (2) take it over, if the lessor would allow this. Chances are they won't, and if they do- you will have to prove creditworthiness. Lori kind of brought this out.
Finally, most insurers, depending on the state and carrier, will require all licensed drivers in the household be on the policy, unless excluded. Again, that is state-dependent. Some states will play this game, others will not.
Lori is right on target- make sure you pay attention to her posts regarding exclusions on your auto insurance policy! They can cause HUGE problems!
InsTeacher 8)
Good luck
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