1. 135 POINTS
    Cody Hughes
    Owner/CEO, Tristate Insurance, Missouri, Oklahoma, Arkansas, Kansas
    You can't take out the insurance policy yourself. But if you have an 'insurable interest' in the car, IE. you are holding the loan, then you can require the other person to add you as an additional insured. Which just means that in the event of an auto wreck, and the car is totaled, you will get paid what you are owed ( the lien).
    Answered on September 26, 2014
  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®PRO
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    An auto policy covers an automobile, not a driver. If you are not the owner, and don’t have any other insurable interest, you cannot be named as the insured on the policy. The information about being a loan holder is important. You named to be named on the policy as a lienholder. If you lease the car to someone else than you also need to be named as the additional insured.
    Answered on September 26, 2014
  3. 7647 POINTS
    Mark Bartlett CLCSPRO
    Branch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance Carriers
    Actually there are a hand full of carriers that will allow you to be the named insured and take out a policy on a vehicle you do now own. It is rare and unusual but it does exist. I have written these types of polices in the past and can do so today as long as your in California and qualify in accordance with your driving record.
    Answered on September 26, 2014
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