Question

Can I insure an RV bought from a friend if the loan is in her name?

I am buying an RV from a friend. The loan is still in her name and we just made the payment for her. We live in the RV full time. Can we insure the RV in her name?

May 18, 2020 Willis, TX

Answer
Ross Martin

May 18, 2020

This situation could cause a few issues. You cannot insure property that you do not own. The other problem is that if her loan company finds out she is lending it out to others she may be in violation of her loan contract. You could both be on the insurance, but you would have to reside together at the same address. The safest thing for everyone involved would to purchase the RV from her outright and get it in your name. Then it can be insured in your name without any issues.


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