V5 - A Warning From History

Here's a cautionary tale for all people with cars on the road - so, about 30 million of us. And it's especially for those of us with insurance too...

The first question the man from the insurance company asked me after writing off my son's car last month was

"Whose name is on the log book? (V5)"

Why did he ask?

Simples, in the dark world of insurance, the "registered keeper" (according to DVLA) is in fact the "owner" (according to the insurance company). This in itself is probably contentious, but continuing with this premise the logic now proceeds thus:

• The policy holder's name isn't on the V5.
• Thus, the policy holder is not the owner.
• Thus, the policy holder has no insurable interest in the car.
• Thus the vehicle is not insured (3rd party still is).
  
• Thus the company won't pay your losses in the event of an accident.

My name was on the V5. I rang up the chap I bought it from -

"Alan?"
"Yes?"
"Have you posted the V5 to Swansea yet?"
"Oh, 'eck, I'm sorry I haven't done that yet!"

"Let me explain..."

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PS: My chest still hurts.