Insurance. Since the law recognizes the co-signer as a co-owner of the vehicle, the co-signer has the right to obtain an insurance policy on the vehicle for protection from the shared liability in any event causing damage or personal injury.
Related posts:
- What is the difference between a registered owner and a legal owner? When you finance a car, the bank that you got the loan from is the legal owner (until it’s paid off) You are the registered owner when you get the tabs and plates in your name with the state Department of Licensing....
- Can you insure a car if you’re not the registered owner? You can insure a vehicle you don’t own, but you must tell the insurer that you’re neither the registered keeper nor the owner. … Some car insurance companies may only insure you as the main driver if you’re also the registered keeper. Aug 27, 2021...
- Can car owner and policyholder be different? Yes, you can take out a separate car insurance policy on someone else’s car. Just tell the insurer you’re not the owner or the registered keeper of the vehicle when you apply. Aug 25, 2020...
- Does it matter who is the owner of the car? Essentially both people on the title are considered the owners of the vehicle. The only difference in power would be if both names are under AND or OR. If you checked OR, either of you may sell the vehicle at any time without the other’s signature/consent....
- Who is liable in a car accident owner or driver? The car owner (the one in whose name the vehicle is registered) is not liable as long as he has not instigated the driver to drive fast and rashly. Jul 3, 2012...
- Is the registered keeper of a car the owner? A car’s owner and registered keeper are often assumed to be the same thing, because they are usually the same person, but in fact they can be different people. The owner is the person who bought the car or the person who has been gifted the vehicle. The registered keeper...