Ask an expert

Hi there,
A friend is heading off an OE for a year and asked us if we would like to look after her car while she is away. We're interested as our current car is running out of life and it will give us time to save and buy a decent car later. I'm interested in how the insurance/legal side of this 'deal' would work... Keen to hear your thoughts.

Thanks

As a matter of course, insurance companies write ploicies to the person who has "insurable interest" in the property (in this case, vehicle) being insured. This means the person who has financial ownership of the property is really the only person who can hold a policy for it.
Therefore, as you are not the owner of the vehicle it isn't straight forward for you to insure it. If your friend insured the vehicle with you as the named main driver, that would be more straight forward.
However, there are often ways around obstacles such as this, so discuss the matter with your insurance company, and it's likely a solution can be found.