CO joint ownership of vehicle and insurance

  • Last Updated:
  • Dec 5th, 2019 3:07 pm
Dec 22, 2008
99 posts

CO joint ownership of vehicle and insurance

i am trying to understand the concept of Co joint ownership of vehicle with my spouse and its affect on insurance.

I understand both our histories are assessed when deciding the premium but lets consider one following scenario:

I have a car with my own insurance(Insurance company#1 ) that's under my name with my own policy

I have another car that is co joint with my spouse and policy (insurance company # 2) is for her as primary and me as secondary on this car

Now lets say God forbid she gets in accident and wrecks her car and doesn't buy another car and insurance, Will that affect my premiums which i have for my own car with insurance company number 1?

Keep in mind both policies are with two different companies.
1 reply
Deal Addict
Jan 17, 2009
2985 posts
Toronto, Ontario
IIRC Insurance doesn't care who owns the car (i think they just want to know if its leased). If she has an at-fault accident on her record, and she is insured to drive your car i'm sure it could affect your premiums, why wouldn't it?

Also why not combine both policies from the same insurance company? It's usually a 10-15% discount, even more if you have house/tenants insurance with them. When my sister combined her insurance policy with her SO it went down by 10% in 10 seconds with a phone call without changing anything, apparently when you're in a relationship "you're less likely to crash" (that's what the insurance provider told them haha).