Insuring a lease vehicle

[SpikieMikie]

I'm about to order a new car and I'm going for personal contract hire. However, the lease company say that I will not be the 'registered keeper'. I spoke to Privilege insurance, who I currently have a policy with, who say I need to be the registered keeper for them to insure me.

Is this a common problem ? surely the amount of people opting out of company car schemes means companies as big as RBS, who own Privilege, should cater for this circumstance.

Has anyone had this problem and got round it somehow?

Thanks

[Zax47]

I think you are getting confused over the difference between registered "keeper" and registered "owner" . They are not always the same thing, especially when there is any sort of finance agreement which concerns the vehicle, It comes down to the legal definition of owner - the lease company legally own the vehicle but lease it to you for a monthly payment, you are the registered keeper (the person to whom the police will come if there are any offences which concern that vehicle).

They will be the registered OWNER as legally they have title to the vehicle - you can't sell it, for example. (if it were HP then the finance Co. own the car until you have paid for it, then you do).

You, however, ARE the registered keeper if the car is KEPT by you at your address and used by you. However, if you were to write it off then the insurance company would pay out to the registered owner - the lease company, not you.

My company are the registered OWNER of my company car, but I am the registered KEEPER for the insurance.

This is a very common misunderstanding, but all insurance companies understand it - it's either you or your lease company that is confused!.

[SpikieMikie]

Hi Zax47... Thanks for your answer, its the same answer Privilege gave me... However, its not that simple - hence my question... I clarified this with the lease company and there email back states ;
"The registered owner and keeper of the vehicle will be the funder ie Lex Vehicle Partners, Lombard Vehicle Leasing, etc Although you will be using and driving the vehicle as the lessee you will not be �registered� with DVLA as such."

I have further clarified this and it means that if I was to get a speeding ticket say, the police would have to contact the registered keeper - i.e the lease funder, to obtain my details as driver...

[kempie]

Zax47 - I take issue with the term "registered owner" (registered with whom exactly?) This is a throwback to the good old days when a car's log book referred to owner rather than keeper. The correct terminology is legal owner.

Also the person who keeps the car at their address need not be the Registered Keeper. The relevant part of the term is again "registered" i.e. whoever has registered that vehicle with the DVLA is the RK no matter where the car is kept or who uses it.

Although of no help in regard of your predicament SpikieMikie, I see little sense in the lease company insisting on retaining RK status when it has no bearing on their legal ownership - why do they wish to take responsibility for ensuring the leased vehicle is taxed etc.?

[tigwig]

we had exactly the same problem and most insurers said they wouldn't even insure us! We are insured with Direct Line and had no problem with them at all.

[SpikieMikie]

Thanks tigwig, I'll give them a try I reckon... at least its not just me! cheers

[annie0000]

I have had several leased vehicles and driven and insured a couple of cars technically owned by my husband. I have never had any problem, but then I also insure through Direct Line. Incidentally they are also owned by RBS.