Motorcycle as Company Asset - How to insure?

[bolidemichael]

As per the title, I called Bennetts and they said that they won't insure a motorbike that is registered in the name of a business. How does one go about insuring a motorbike, is it via a commercial fleet broker?

[Al Gorithum]

Can't you add it to your business insurance? That's what I do.

[bolidemichael]

Thanks. Is that to the fleet policy or the combined commercial insurance?

[Al Gorithum]

bolidemichael said:

Thanks. Is that to the fleet policy or the combined commercial insurance?

Mine is a Motor Trade policy. You should be able to add road risks to your commercial insurance policy if you don't already have that. Many businesses have vans etc that need to be insured.

[bolidemichael]

Al Gorithum said:

bolidemichael said:

Thanks. Is that to the fleet policy or the combined commercial insurance?

Mine is a Motor Trade policy. You should be able to add road risks to your commercial insurance policy if you don't already have that. Many businesses have vans etc that need to be insured.

Thanks. They're pushing back for stand alone of combined commercial. The stand alone attribute it to my not being the sole owner of the company. I'm yet to hear from the fleet policy brokers.

[grumbas]

Do you have other company vehicles? If so how are they insured? If it's a fleet policy you should be able to add the bike to that.

Fleet policies are exactly that - multiple vehicles, you won't be able to take one out for a single vehicle.

Are you a director of the business? If so many insurers are happy to insure vehicles registered to the business if a director is the policyholder. I don't know about bikes, but this was fairly common for vans when I was in that market. Maybe try other bike brokers and make it clear you're a director.

[bolidemichael]

Thanks guys.

Basically, where the owner is a LTD company and the registered keeper isn't 100% owner of said LTD company, if causes an issue for a number of insurers.

The commercial fleet underwriters offered third party only.

Bikesure are happy to cover a motorcycle where a LTD company is both the registered keeper and the owner - though not for business usage (due to a London postcode!) i.e. negating the validation of a motorcycle as a company asset should HMRC scrutinise (unlikely but plausible)

MCE are happy to cover a motorcycle where a LTD company is the owner, but the registered keeper (and policyholder) are the same and an individual. Also, they cover for business usage. It is surprisingly more that I would've anticipated, then again me no claims is attached to another policy - perhaps something that I'll have to address for renewal or even mid-term if viable.