Car insurance for a company owned vehicle

[audi321]

I’ve recently ‘sold’ my personal car to my limited company to take advantage of capital allowances for depreciation.

However, now I don’t technically own the car, I told my insurance company who said they won’t cover me anymore! WTF?

Going on the comparison sites, it seems my situation is unusual as I’m guessing the company should now insure the car? Do I now need a company policy? What about my no claims bonus which I’ve built up?

Starting to wish I never bothered now!

[oop north]

Might be possible to have a personal policy to insure a company car - one place I worked at provided company cars but required employees to insure them cos company policies were expensive. That was 30 years ago though.

Ideally want a company fresh policy but may not recognise ncb built up. Or maybe it will - NFU were happy to recognise on way in to company and on way out

May nee to use a broker but there are some online sites you can use - I found some with google for comparison

[surveyor]

LV is your answer. They don't seem to care.

[Somebody]

Need to go through a broker. Online comparison sites only cater for personal ownership.

[LordHaveMurci]

I’ve insured numerous company owned cars in my name, not for a few years so it may have changed?

[Jon39]

surveyor said:

LV is your answer. They don't seem to care.

'Don't seem to care', was my final assessment too.

Had a few policies running with them for several years.
Premiums continued to be very competitive.

Think they were taken over.
Maybe the buyers thought the premiums were too competitive.
Nothing of mine is insured by LV now.

[Allegro_Snapon]

Done the same.

LV were my goto until 2020 when their "don't seem to care" in the small print was "we pay out to/your company is liable to us/NCB is with the company" appeared.

RSA and NFU and Fish have met the criteria with no dodgy small print since.

[ecs]

confused.com give you the option of selecting who owns the car - select Ltd Co and make sure the company you go with has that option listed in the quote generated.

I did this and ended up buying the policy through Quoteline Direct where the underwriter is 'Prestige'. Guess you could go directly to Quoteline too, brokers for brokers ¯\_(ツ)_/¯

[Sheepshanks]

This issue comes up regularly but it’s usually on cars leased through the company.

A few people have said Direct Line is fine with that.

I think it’s all a bit dodgy - if it’s a company owned (or company leased) car then it needs a commercial Iines policy, not one that’s personal lines.