How does the steering wheel loan insurance work in auto insurance?
Carpooling, shared driving during a long trip or just a loan ... Sometimes someone other than you drives your vehicle, without being declared on your auto insurance contract. Is this still allowed by insurance? What will happen in the event of an accident? Will all the guarantees apply? Let's take stock of the steering wheel loan together!
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Does the auto insurance contract cover the steering wheel loan?
Generally, lending your car to a third party does not pose a problem in terms of auto insurance. The steering wheel loan is authorized and included by the majority of auto insurance contracts. It is simply a matter of the insurer extending the coverage of the policy to a driver other than the main driver.
Be careful, however: some contracts include an "exclusivity clause" (or exclusive driver clause). If such a point is provided for, only the main driver named in the contract can drive (and therefore be covered). This type of clause is found especially in the insurance of high-end or collector vehicles.
Remember to check the conditions of your auto insurance before lending your car to a third party, whether it is a friend or your neighbor. Make sure there is a steering wheel loan clause. If in doubt, contact your insurer.
We are talking about occasional loan here, for example when you lend your vehicle to a friend or share the driving on a long trip. If the steering wheel loan becomes more regular, you may have to declare a secondary driver. This usually does not result in an increase in the auto insurance premium.
By way of illustration, we have studied several contracts to see if they accept the vehicle loan:
Insurers Authorized steering wheel loan?
directassurance
macif
maif logo
credit mutual logo
gmf logo
Steering wheel loan and auto insurance contracts
Under what conditions can I lend my steering wheel?
Auto insurance generally accepts the steering wheel loan, but not all insurers do it the same way. Several possibilities exist:
The steering wheel loan is possible without restriction,
The steering wheel loan is authorized, but the deductible will be increased in the event of a responsible accident,
The steering wheel loan is accepted, but only if the vehicle is loaned to a member of the main driver's family,
The steering wheel loan is possible regardless of the third party to whom the vehicle is loaned, except if it is a young driver. If you lend your car to someone who still has this status, the contract will not apply in the event of a claim.
The loan of a vehicle is therefore often authorized on condition that it is of short duration. The idea is not to make your vehicle available to a third party over several months or per year. In such a case, it will be preferable to declare it as a secondary driver.
Driver type Declared?
Occasional driver Not declared on the contract
Secondary driver Declared on the contract
Types of auto insurance drivers
Two other "logical" conditions also apply to the loan of a steering wheel:
The third party who will drive the vehicle has a valid driver's license,
He makes the car normal use, under the conditions of the insurance contract (he is not going to compete in a motor competition with, for example).
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