PCP Car Insurance

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This topic contains 1 reply, has 2 voices, and was last updated by Stuart Masson Stuart Masson 2 years, 10 months ago.

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  • #61597 Reply


    Last question on PCP I promise :-)

    If I have my research correct it seems that you are not the registered owner with a PCP unless you make the final payment but you are the registered keeper. I have found that insurance comparison sites do ask if you will be the registered owner but then show you quotes where this isn’t taken into account e.g. Allianz.

    Would it be best to call around a few different insurance companies to get the quotes myself?
    Or could anyone recommend a company that has a good price for PCP cars.
    Or perhaps a Broker?

    And I may be wrong but are people driving around in PCP cars where their insurance assumes they are the registered owner when they are not?!?

  • #61621 Reply
    Stuart Masson
    Stuart Masson

    Yes, in the UK we have the separate concepts of ‘Owner’ and ‘Keeper’. You would be the Registered Keeper, but the finance company remains the Registered Owner of the car until all the finance is settled.

    It shouldn’t be a big deal, and obviously it happens every day. Your insurance company will want to know if there is finance on the vehicle and who with, but normally they will be wanting to make sure that you are the Registered Keeper of the vehicle.

    If in doubt, ring a few up and ask. Comparison sites do a good job but they are obviously no good when you have specific questions. I always recommend calling their recommended insurer(s) anyway and running through the quote in detail, just to make sure there are no issues. I had an experience of this myself just this week when arranging classic car insurance for a car I have just bought. Turned out I wasn’t eligible for a particular insurer over something very trivial, but I wouldn’t have known had I just accepted the comparison quote and probably wouldn’t have been covered if anything had gone wrong.

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