Getting Car Insurance For Vehicle With No “Insurable Interest”
Reader’s Question:
I have a sister who lives in a different state. She said she will give the car to my 17 year old daughter as a gift. However, she is still paying off for that car. So my question is, how can we get car insurance for that vehicle? Please we need the answer as soon as possible.
Alice
Miami FL
Since your sister owns the car and she resides out of state it might not be easy to get car insurance for the vehicle in your state because you will need to register the vehicle first in your state. I suggest that you contact the Department of Motor Vehicles, or similar agency, in your state to know exactly how you can register the car in your state.
Another problem that I see is that you might have a difficult time getting car insurance for the vehicle or car insurance providers may not allow you or your daughter to get insurance for the car if you do not own the car and there is no “insurable interest”.
It depends on which state you are in however, there are car insurance companies now that let you get insurance in the vehicle even if you do not have insurable interest on the vehicle. You can start obtaining an auto insurance quote for the vehicle now here. Just fill up the form above to find the best quotes that suits your needs.