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  • joint vehicle ins ect

    Ok so my boyfriend and his ex have been split for almost a yr now. Her car is soley in her name, but my BF is a co-signer on the loan. The insurnce is in both of their names..... she is one his policy for his truck and he is on the policy for her car (they are both in the same policy).

    He is filing a consumer proposal because he cant pay back the mounds of debt they accumulated over 6 yrs of being together off and on. Question will that take his responsability away from paying for the car completly once the proposal has been accepted?? He hasent paid the loan for the last 3 months because the consultant he is working with told him to stop payment on all creditors..... wa la the ex finally starts paying her on car payments !!

    My BF has continued paying the car insurance on her car because it comes out of his acct with the ins $$ for his truck and he was protecting the asset like he said he would by co-signing the loan. The insurance company will not allow him to take her off of his truck insurance and wont let him stop paying the car insurance either. Question how can he do it ?? She refuses to sign the paper. Will he be able to once he is no longer a co-signer on the loan ? Or will she still have to sign the paper? Can he just cancel the policy all together and get a different INS company ?

    -They have NO kids (thank god )
    -No other things in both their names
    -No lawyers (neither one of them can afford one) she threatens and his responce is go do it then lol and nothing so far.

    O and how long does she have to be able to go after him for spousal support ? If she can prove they were living common law...... which they havent in a yr and a half.


  • #2
    our house and two cars were under the same policy also. The policy was in my name. He did own money on his car but I wasnt a co-sogner for it. All I did was go in and tell that I wanted him off the policy and they did it no problem. I think your friends problem may be that he was a co-signer on the loan.


    • #3
      She refuses to sign the paper. Will he be able to once he is no longer a co-signer on the loan ? Or will she still have to sign the paper? Can he just cancel the policy all together and get a different INS company
      Insurance policy has nothing to do with the loan. Loan needs the insurance coverage, not the other way around.

      The issue is the way the insurance industry works. She has to sign the paper to get off his policy. BUT the company should be able to cancel the existing one and create a new one just for him.

      Otherwise, get a new insurance policy and cancel the existing one. (That's what I wound up doing when my ex wife refused to sign the paper as well)

      Separate those policies ASAP, otherwise, if the ex gets into an accident, HIS premiums go up as well.


      • #4
        Ok thats what I thought NBDad about Ins only being needed by the loan.

        He's filing a consumer proposal to help clear up all of his outstanding debts, only problem with getting off the ins right now is that the proposal papers are not signed by him yet and his trustee says he still needs to protect the asset (her car) untill his name is off the loan as a co-signer.

        Hopefully the papers will be signed on the 18th of this mth but the creditors have 45 days to accept or decline his offer to them. Soooo He's stuck I guess untill its accepted ? Does anyone know if it is his legal responsability to keep the ins on the car untill the proposal goes threw or is it her responsability to protect the asset? Does a co-signer guarentee the ins will be paid as well if she doesnt pay it ?


        • #5
          Just wanted to mention as well that as soon as he can get her car off of his ins he will be switching companies anyway. My ins company is quite a bit cheaper then the one he is with and Ive never had any issues with them. Just switching his snowmobile ins to my company saved him $300 a year !


          • #6
            insurance - I tried to get her off. We stilll live under the same roof and as a result they say that it is not really possible. I was told that if the broker went to the insurance co and gave them our scenario they wouldn't buy it - they would just cancel our policy. Why? With two adults, now 5 cars and three children what will happen if there is an accident in the home, an emergency trip to the hospital - the first set of keys, or the only car in the driveway or (come up with any other scenario) but the driver doesn't match the policy in which car they are actually insured - then.......accident on the way to the hospital, no insurance - none because to have her off my policy it would take a signed waiver that stated if she drove X vehicle she understands that there will be no insurance coverage.

            Then my broker sadly states - she has seen this now twice. Her advice, take the risk - my solution...... the keys stay in my pocket ALL THE TIME on the newer car (yes I actually take them with me when I go to bed!) If one of the kids use it the keys go right back into my hand. The old one (car) my youngest daughter has a set and it is clear I catch her one more time leaving the keys around anywhere and she loses the right to them - for good. ( the youngest uses the old car to get to work and go here and there) My wife - I made it clear to her why, what it is going to be and if she doesn't like it she has the right to purchase her own car, and then she can get her own policy. Until then she doesn't drive....sorry.

            This is the best I can come up with while we live under the same roof. If we lived in two seperate houses - no problem. Same roof - many problems!!!
            Last edited by ddol1; 11-03-2011, 12:02 AM.


            • #7
              Well she hasent been paying the car loan I guess because the finance company called my house looking for my BF or his ex. They have tried to contact her with out any luck and so started to contact my BF for the money. His responce to them was go take the car Im not paying ! He gave the finance company both of her cell numbers, week later finance company calls back and cant get ahold of her but left a message on her cell to call them back and she never did. So when they called us back again we gave them her email adress, finance company said she had 7 days from the date the email was sent to pay up or loose the car, he also told us he will let us know when the get the car so my BF can then cancel the insurance. She now has 3 days to meet their demands or she will loose the car She owes $5500 total and is now 4 mths behind in payments at $280 a pop. Looks like he will be in the clear of this insurance nightmare soon as long as she doesnt do what she said she would if this happens and trashes the car before the finance company can get it back.


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