Can my ex insure the vehicle I am financing?

I’m financing a 2009 Jeep for my son can my ex-wife insure on her policy? I have very good credit, I have 3 children and I was going to split the cost of the car with my ex-wife but she suggested that I pay for the car and she would pay for the insurance. Can this be done?

Dec 13, 2018 Glastonbury, CT

Ava Lynch

Dec 13, 2018

Yes. Your ex-wife can insure the vehicle as long as you are listed on the policy as a driver (because you are the one financing the vehicle) and listed as the additional interest since you have a financial stake in the vehicle. Also, make sure the finance company is listed as the lienholder on the policy. Good luck and if you have any other questions, don't hesitate to ask.

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