Car Business Lease Insurance.

[orbit123]

Could anyone help with an insurer for a business car lease. Way harder than expected!

Registered owner and keeper would be lease company it seems.
Hirer (name on insurance certificate) would be our limited company.
Staff member would be listed on the policy as an agreed driver (or main driver even).

Via LV, Aviva, Directline etc. it's like their computer can't accept all of the above.

[dalenorth]

Admiral do it as we used them last month. Our lease company didn’t care whose name the car was insured in, just that it was insured.

[andyb28]

It doesnt come with insurance?

[Road2Ruin]

I used Direct Line, many years ago. Maybe try a broker as well.

[Rough101]

I use the same broker that does our other business insurance, no idea who we have this year, the broker does the work.

[Mammasaid]

Lloyds Bank, The AA , NFU have all done BCH insurance in the past.

And no, PCH & BCH doesn't com with insurance at standard.

[MustangGT]

orbit123 said:

Could anyone help with an insurer for a business car lease. Way harder than expected!

Registered owner and keeper would be lease company it seems.
Hirer (name on insurance certificate) would be our limited company.
Staff member would be listed on the policy as an agreed driver (or main driver even).

Via LV, Aviva, Directline etc. it's like their computer can't accept all of the above.

We use Aviva. Covers all drivers over an age determined by each individual vehicle. Therefore employee partner can also drive.

[Sheepshanks]

orbit123 said:

Could anyone help with an insurer for a business car lease. Way harder than expected!

Registered owner and keeper would be lease company it seems.
Hirer (name on insurance certificate) would be our limited company.
Staff member would be listed on the policy as an agreed driver (or main driver even).

Via LV, Aviva, Directline etc. it's like their computer can't accept all of the above.

Sounds like you're trying to use the personal insurance route to get insurance for a company car?


It's come up a few times on here and what people do is the driver insurers the car as policyholder. It's normal even with a personal lease for the owner and RK to be the leasing company. I think insuring the car like this is iffy, to say the least, but they reckon they explain it to the insurance company and they're OK with it. Admiral was mentioned in a recent thread on this subject.

Maybe insurers have got wise to this, and stopped it.

Edited by Sheepshanks on Wednesday 5th March 10:26

[Sheepshanks]

orbit123 said:

Could anyone help with an insurer for a business car lease. Way harder than expected!

Registered owner and keeper would be lease company it seems.
Hirer (name on insurance certificate) would be our limited company.
Staff member would be listed on the policy as an agreed driver (or main driver even).

Via LV, Aviva, Directline etc. it's like their computer can't accept all of the above.

Sounds like you're trying to use the personal insurance route to get insurance for a company car?


It's come up a few times on here and what people do is the driver insurers the car as policyholder. It's normal even with a personal lease for the owner and RK to be the leasing company. I think insuring the car like this is iffy, to say the least, but they reckon they explain it to the insurance company and they're OK with it. Admiral was mentioned in a recent thread on this subject.

Maybe insurers have got wise to this, and stopped it.

[997.1]

Sheepshanks said:

Sounds like you're trying to use the personal insurance route to get insurance for a company car?


It's come up a few times on here and what people do is the driver insurers the car as policyholder. It's normal even with a personal lease for the owner and RK to be the leasing company. I think insuring the car like this is iffy, to say the least, but they reckon they explain it to the insurance company and they're OK with it. Admiral was mentioned in a recent thread on this subject.

Maybe insurers have got wise to this, and stopped it.

I have a leased car that I insure in my personal name. Lease is in personal name too but paid for by my company. Accountant is happy with the arrangement. Only thing to make sure you do correctly is insure for the type of use the car is used for

eg business, commuting etc.

Mine is, so all good according to lease company and accountant.

[Sheepshanks]

997.1 said:

Mine is, so all good according to lease company and accountant.

The more critical thing is, is it all good according to the insurance company?

If the lease is in your name, then probably fine. In the OPs case, the lease is in the company's name.

[RicksAlfas]

You need a business insurer, not a compare the meerkat.
Who do you use for your other business insurances? Can they help?

[997.1]

Sheepshanks said:

The more critical thing is, is it all good according the insurance company?

why would it not be? the car is insured for business purposes and is leased in my name and used for business purposes. We are talking about a regular saloon car, not some pick up/specialist vehicle.

[Sheepshanks]

997.1 said:

why would it not be? the car is insured for business purposes and is leased in my name and used for business purposes. We are talking about a regular saloon car, not some pick up/specialist vehicle.

Sorry, I added to my post. Your situation is different to OPs so not relevant.

[MustangGT]

997.1 said:

I have a leased car that I insure in my personal name. Lease is in personal name too but paid for by my company. Accountant is happy with the arrangement. Only thing to make sure you do correctly is insure for the type of use the car is used for

eg business, commuting etc.

Mine is, so all good according to lease company and accountant.

I hope your accountant apprised you of the tax implications. All good if he did.

[orbit123]

Thanks all. We have a broker on it and waiting to hear back.

I get impression many people are basically insuring business leased vehicles "personally" with a policy in name of one of the directors. I'm less comfortable with this even though a couple of the insurers themselves seem to have suggested it.

I think some have an option to "insure a car you do not own" which does cover leases and if policy is in name of director, maybe ok. The company would still need to pay for it and some insurers have no way to take a company payment (like BACS or even AMEX).

All a bit more complicated than I'd have expected!