Company car insurance

[fly]

As a company, we are just purchasing our first company car - only one, for one director.

Google suggests that 'fleet insurance' should be arranged by the company, rather than the employee getting their own car insurance. But any fleet insurance we look at is for minimum 2 cars.

So do we just ask the employee to organise a completely standard insurance policy (stating company as the car owner and themselves as keeper) and we pay the premium? Or is there another way?

[edeath]

We have a single company car leased for our owner and have just purchased a standard insurance policy stating the leasing company as the owner and himself as the driver.

He has made a claim on the policy and nothing was flagged with us as an issue - however I've always wondered if this was the correct way of doing things. So interested in other's answers.

[carl_w]

edeath said:

We have a single company car leased for our owner and have just purchased a standard insurance policy stating the leasing company as the owner and himself as the driver.

I've also just done this (yesterday).

[BertBert]

I'll be doing this next week, so interested in the answer too!

[PistonBroker]

edeath said:

We have a single company car leased for our owner and have just purchased a standard insurance policy stating the leasing company as the owner and himself as the driver.

It's the only way these days really.

There used to be 'Business Car' policies for single vehicles - RSA were the best bet for that - but they've disappeared now.

Though down here in sleepy Zummerzet they usually fit on the likes of Rural's Business Motor policy, which is handy.

[surveyor_101]

If you don't have a fleet as long as insurers are aware its leased to company there should be no issue.

Its more the tax liability, unless its one of these pool cars wink wink, nudge nudge but that rarely gets passed HMRC. However I have seen a company list the a range rover as a pool car.

[surveyor_101]

PistonBroker said:

Though down here in sleepy Zummerzet they usually fit on the likes of Rural's Business Motor policy, which is handy.

Zummerzet aka Somerset?

[carl_w]

surveyor_101 said:

If you don't have a fleet as long as insurers are aware its leased to company there should be no issue.

Its more the tax liability, unless its one of these pool cars wink wink, nudge nudge but that rarely gets passed HMRC. However I have seen a company list the a range rover as a pool car.

The low tax liability of an EV is what's prompted me to go down this route

[NDA]

It seems a grey area - well, to me at least!

I have a company, only one employee (me) and a Tesla purchased through the company. The V5 has the keeper as the company name at my home address (where the company is registered).

I got onto Direct Line and explained and their insurance certificate subsequently detailed the car along with the wording 'not owned by the policyholder' or similar.

It seems (and I could be wrong) that if you go for 'company car' insurance, then a world of pain is opened up. If you say 'the car is owned by my company and I own the company' the rules appear to change.

[martinbiz]

[quote=NDA]It seems a grey area - well, to me at least!

I have a company, only one employee (me) and a Tesla purchased through the company. The V5 has the keeper as the company name at my home address (where the company is registered).

I got onto Direct Line and explained and their insurance certificate subsequently detailed the car along with the wording 'not owned by the policyholder' or similar.

It seems (and I could be wrong) that if you go for 'company car' insurance, then a world of pain is opened up. If you say 'the car is owned by my company and I own the company' the rules appear to change.[/quote
If it’s a Ltd co then You don’t own the car the co does.
What rules are you saying change?