Limited company, company car and car insurance

[Madeupname77]

I have a limited company with myself and my wife as the directors, and my wife as the sole employee. The company provides each of us with a vehicle for personal use, for which we pay BIK tax. My question is regarding insurance: In theory, we the company should insure the vehicles on our behalf as the owner of the vehicles, they would also be the policyholder for the insurance and we couldn't use or earn NCD on these policies.

In practice it seems hard to find company car insurance online for just 1 or 2 cars as opposed to a large fleet, yet there must be hundreds of thousands of limited companies in the same situation with no more than 2 vehicles which are largely for personal use - hence the large number of premium EVs on the road.

However, I spoke to a large national car insurer today, who said it was commonplace for limited company cars to be insured by the individual director/employee, and as long as the ltd co was listed as the owner and registered keeper (but not policyholder) it wouldn't be a problem and would be perfectly legal. I'd love this to be correct and of course we use/earn NCD as well......

Any thoughts, is this correct?

Thanks