Buying a truck from a friend but will have a balance on it…if still in his name until I pay full balance can I insure the truck under my insurance?
Insure a truck that’s not in my name.
Discussion in 'Questions From New Drivers' started by Louisianatrucker, Jun 20, 2024.
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you’d have to have him written on paperwork as leinholder or some such, if it’s wrecked he’d get the money for truck until you paid it off.
I’m sure he’d want copy of insurance as proof…Rideandrepair and Louisianatrucker Thank this. -
Rideandrepair Thanks this.
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Talk to your insurance broker/agent to have the owner named as 'aditional insured' on your insuance certificate aqnd policyt
Rideandrepair and Louisianatrucker Thank this. -
Go to the DMV and ask them about how to add a person on the title as a lein holder. The insurance company won't care, it isn't their problem. I would also get a contract written up by a lawyer for the sale and paying it off, this is to protect both of you.
BUT do not keep it in his name.Rideandrepair, wis bang, RockinChair and 1 other person Thank this.
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