EV company car insurance
Discussion
We have 3x ev cars on a ltd company business lease (of which I am a director).
They are all employee cars (one of them mine) and not kept on business premises overnight nor are they actually for business use.
What is the best way of insuring them and is there anyway to use my personal NCD? I checked Aviva and aside from the fact their prices were horrendous, they have a disclaimer that says cars must be kept on business premises.
They are all employee cars (one of them mine) and not kept on business premises overnight nor are they actually for business use.
What is the best way of insuring them and is there anyway to use my personal NCD? I checked Aviva and aside from the fact their prices were horrendous, they have a disclaimer that says cars must be kept on business premises.
Have had two EVs through company on lease and just got third. Have spoken with our insurer (NFU) in last 24 hours - ncd applies to main driver of vehicle and NFU happy with using my wife’s ncd on the car she just got through my company. She couldn’t use my ncd on the ipace that is about to go - am getting xc90 privately
I started getting a quote from aviva for the xc90 yesterday and got thrown by the statement they don’t accept ncd from a company car
There are plenty of people around insuring lease cars through their company - have seen LV mentioned favourably though I haven’t tried them. You must say it’s through company and leased not state it’s a private car. And different insurers have different (often it seems really stupid) rules. I have used bmw insurance for the i3, and NFU for the ipace. Volvo insurance is about the same for a c40 as NFU (though NFU wanted 3x as much for xc90 as Volvo insurance do with identical ncd - obviously just don’t want to insure me in it which is bizarre)
I am astonished an insurer says the cars have to be kept at company premises overnight - sure you didn’t speak to HMRC about pool cars?
I started getting a quote from aviva for the xc90 yesterday and got thrown by the statement they don’t accept ncd from a company car
There are plenty of people around insuring lease cars through their company - have seen LV mentioned favourably though I haven’t tried them. You must say it’s through company and leased not state it’s a private car. And different insurers have different (often it seems really stupid) rules. I have used bmw insurance for the i3, and NFU for the ipace. Volvo insurance is about the same for a c40 as NFU (though NFU wanted 3x as much for xc90 as Volvo insurance do with identical ncd - obviously just don’t want to insure me in it which is bizarre)
I am astonished an insurer says the cars have to be kept at company premises overnight - sure you didn’t speak to HMRC about pool cars?
I spoke to lv via live chat and told them it’s a lease car through a Ltd company and they said they don’t offer insurance for that.
Re Aviva, I did the quote online and at the end they give you statements which you have to confirm are true, one of them is confirmation the car is kept on business premises.
Re Aviva, I did the quote online and at the end they give you statements which you have to confirm are true, one of them is confirmation the car is kept on business premises.
You’ll have to put the cars on a company fleet policy. Drivers’ personal NCDs don’t come into it.
Go through an insurance broker and ask them to shop around for you.
When I was involved with co insurance recently with a small fleet which had a Tesla 3 the Tesla’s premium was £1,250 vs a flat premium of <£800 for all other vehicles on the fleet.
Hope it helps.
Go through an insurance broker and ask them to shop around for you.
When I was involved with co insurance recently with a small fleet which had a Tesla 3 the Tesla’s premium was £1,250 vs a flat premium of <£800 for all other vehicles on the fleet.
Hope it helps.
MaxFromage said:
Direct Line insured me personally after I advised them it was a leased company car?
I wonder if they thought it was the leasing company’s car?This has come up a few times and I’m ever dubious that normal personal car insurance policies will cover employer owned, or employer leased, vehicles.
Yes it concerns me now. They're so relaxed when you call them. At least I know it'll be on the phone log... Looking online, it suggests a policy should be in the name of the company or the director. Mine is the latter. We also have an employee who has just had a company lease. I told him to specifically confirm this was a company lease and apparently he had no problem insuring personally.
In general, if the car is owned or leased to a company, then the company needs to arrange the insurance. In the event of a write off - the settlement will go to the policy holder.
The company has to ensure that its cars have the correct cover as regards drivers and classes of use, a verbal confirmation from the user isn't good enough.
The company's risk management should ensure that both the vehicles and the users have the correct cover.
If you need to insure company vehicles, don't go the personal insurer. Get a company car policy. Talk to insurers who offer this type of policy. That means going direct or using a broker.
Once you have a company car insurance policy, it will become much easier to manage driver and vehicle changes.
The company has to ensure that its cars have the correct cover as regards drivers and classes of use, a verbal confirmation from the user isn't good enough.
The company's risk management should ensure that both the vehicles and the users have the correct cover.
If you need to insure company vehicles, don't go the personal insurer. Get a company car policy. Talk to insurers who offer this type of policy. That means going direct or using a broker.
Once you have a company car insurance policy, it will become much easier to manage driver and vehicle changes.
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