Company car insurance

spakman

Hi, I have a company (of which I'm the only employee) and bought my car through the company.
I had originally insured the car with QuoteDevil (using Axa) but they no longer offer company car insurance.
I'm currently with FBD and the policy is up for renewal. The premium has gone up so I'd like to shop around.
FBD allow you to choose 'company' as registered owner on their online quote forms, but I can't find any other insurers that allow this - they all have "the car is registered in your name or your spouse's name" in the assumptions.

Does anyone know of any other insurers offering company car insurance?
It's just one employee and 1 car, so the usual business fleet insurance doesn't apply obviously.

Apologies if this has been asked before. I had been following a thread on it but it has been closed.

treascon

I saw an ad recently from Patrona advertising company car insurance. You would normally deal with them through a broker so not sure whether you can contact them directly or not but might be worth looking into

silver2020

Are you sure its worth having a "company car"

The BIK tax will be based on the new price no matter how old it is and unless you are doing serious travelling, its not worth it.

Probably better tax wise to charge a mileage rate


Axa still do the insurance especially if its a company you own 100%, but usually you need to speak to someone.

spakman

silver2020 wrote: »

Are you sure its worth having a "company car"

The BIK tax will be based on the new price no matter how old it is and unless you are doing serious travelling, its not worth it.

Probably better tax wise to charge a mileage rate


Axa still do the insurance especially if its a company you own 100%, but usually you need to speak to someone.

It's electric so no BIK. Yeah, I remember trying Axa initially and the hoops you had to jump through weren't worth it at the time!
Might just stick where I am so.

silver2020

is there any issue having the car registered in your name? - The registration document is not an ownership document (if its on finance, the finance company owns it. You can register yourself as the "registered keeper"

spakman

silver2020 wrote: »

is there any issue having the car registered in your name? - The registration document is not an ownership document (if its on finance, the finance company owns it. You can register yourself as the "registered keeper"

Really? Wasnt aware of that! Will look into it. I vaguely remember asking someone about that before and getting the impression it wasn't possible

silver2020

spakman wrote: »

Really? Wasnt aware of that! Will look into it. I vaguely remember asking someone about that before and getting the impression it wasn't possible

I think the older system of the physical logbook was an "ownership" document and then it changed to "registered keeper"

Certainly in the UK it applies - probably best to ask your accountant
https://www.dvla-contact-number.co.uk/the-differences-between-the-registered-keeper-and-owner-of-a-vehicle/

Stanford

silver2020 wrote: »

is there any issue having the car registered in your name? - The registration document is not an ownership document (if its on finance, the finance company owns it. You can register yourself as the "registered keeper"

If your company paid for the car then you don't own it and it must be registered and taxed in the Company name

silver2020

Stanford wrote: »

If your company paid for the car then you don't own it and it must be registered and taxed in the Company name

I don't think its black and white like that.

If you lease a car, the registration is in your name but the leasing company owns the car. Same for PCP.

I'd be checking with an accountant.

The insurance question is
"is the car is registered in your name or your spouse's name"

That does not say "owned"

The was a court case last year (might have been a divorce or something similar) where a car was registered in someone's name and she was claiming that it was hers to keep. Court ruled otherwise as company (ex husband/partner) could show that they paid for it and ownership was never transferred.

In the UK it is clear, but not clear here, hence the advice of an accountant is best.

spakman

silver2020 wrote: »

I don't think its black and white like that.

If you lease a car, the registration is in your name but the leasing company owns the car. Same for PCP.

I'd be checking with an accountant.

The insurance question is
"is the car is registered in your name or your spouse's name"

That does not say "owned"

The was a court case last year (might have been a divorce or something similar) where a car was registered in someone's name and she was claiming that it was hers to keep. Court ruled otherwise as company (ex husband/partner) could show that they paid for it and ownership was never transferred.

In the UK it is clear, but not clear here, hence the advice of an accountant is best.

It was my accountant who told me that the car must be registered to the company.
I don't remember the exact wording though (should have an email somewhere) so maybe there was some ambiguity in what was said.