Vehicle insurance??

just pete

Hi All,
Hopefully some of you might be able to help me with my company insurance problems.

I need a crewcab jeep for the company and if I ensure it in my own name it will cost just over 500 Euro fully comp just myself driving and declared for driving it for work.
Now if I ensure it under my business name again with just me driving it, they are looking for near 2,500 Euro.
I want to purchase the vehicle in the company name so as to claim the VAT back on its cost.
Can anyone shed light on how they manage their company vehicles?
I will also need to get a van soon providing work keeps going.

Thank you.

discodavie

just pete wrote: »

Hi All,
Hopefully some of you might be able to help me with my company insurance problems.

I need a crewcab jeep for the company and if I ensure it in my own name it will cost just over 500 Euro fully comp just myself driving and declared for driving it for work.
Now if I ensure it under my business name again with just me driving it, they are looking for near 2,500 Euro.
I want to purchase the vehicle in the company name so as to claim the VAT back on its cost.
Can anyone shed light on how they manage their company vehicles?
I will also need to get a van soon providing work keeps going.

Thank you.

Firstly you can only register a vehicle in a ltd company name it's not possible as a sole trader or partnership.

Revenue don't mind so much if it's you or your company who pays as long as it's verifiable.

Remember there'll be bik unless you can show you need it for your job and not just to go to work and home again. As for the other van it's the same.

With the insurance I took one of my old vehicles off a policy I had and used that ncb to lower the price. But if your thinking of getting a 2nd vehicle you should look at fleet policies. Some offer fleet from 3 up.

capefear

Is one of the reasons for the price difference your no claims bonus. As an individual you will have a ncb whereas the company won't.

Insuremyvan.ie are meant to be quite reasonable price wise and I think they allow some of your personal ncb. I haven't used them but I know a couple of people who have and they are happy with them.

If you get the insurance in the company name when you go back to driving a car in your own name again your ncb starts again. A friend had company insurance for years and when his business closed he tried to get insurance in his own name and was told his company ncb can't be included so his insurance was expensive until he built up a ncb history.

just pete

Yes Limited company and I will only have a jeep and a van unless things go really well!
They were basing the company quote on 0 NCB, my problem is that its me driving it anyway.
I will look at insuremyvan

pedroeibar1

Just make sure that you tell the truth and do what you say in the proposal form. Otherwise you will not have insurance.

just pete

Definitely, thanks