Insurance for company car.... or not?

[Nosha123]

Hi All

I am about to get a new company leased car delivered. Previously will all other Company cars I have used people like Direct Line, Sheilas Wheels etc...

Apparently they dont insure Company cars... Not sure whether they have changed their policies or whether I wasnt asked the right questions last time round.

An insurance broker I asked says there is only one company he knows of that does Company Car Insurance and is getting a quote for us. He reckoned it would be very expensive and I would have to state 0 no claims as no previous history of company car policy...

Whats the darn difference? Same driver, kept at same address, mileage is the same, driven the same way... do I have to declare its a company lease car?

I have never gone this route before... and have had claims following accidents with no problems of pay outs being settled.

[boxtops]

Yes you would have to declare it, as you don't own it.

[Nosha123]

either way I dont own it though...
Whether it be a Direct Line policy in my name or an expensive Company Car Insurance policy in name of the company

The finance company own the car... we just lease it?
My question is because I have never had issues before getting insurance... so why different now?

[Nosha123]

and what if it was a personal lease car????
Surely I could go to Direct Line or whoever I wished to go to?
Just because it is the company leasing the car why is the company forced to use one insurance company and pay over the odds for 0 no claims bonus?
I just dont see the difference...

[boxtops]

I can't answer, nosha - the lease cars my colleagues get are all insured by the organisation, they don't have to pay for it themselves.

[Nosha123]

well I dont pay for it either.. the direct debit to the insurance company goes through the company I work for.... Paperwork comes to me at my home address...

(Sorry to read about your cat!!!)

[gingejbee]

You have to declare all "relevant information" to insurance companies and whether the car is owned or leased, and by whom, is very relevant. If you don't declare this, it can be used against you if a claim is made.

[boxtops]

ah, I see - you arrange it, they pay.
thank you ;-(

[boxtops]

Nosha, when you asked this in September, a number of companies seemed to do what you what, including Endsleigh http://www.theanswerb...e/Question933429.html

[Davethedog]

Why doesn't your company insure it? Most companies have fleet insurance as you are being heavily taxed on the car.

[Nosha123]

Hi gingejbee
"You have to declare all "relevant information" to insurance companies and whether the car is owned or leased, and by whom, is very relevant. If you don't declare this, it can be used against you if a claim is made."

I have had 3 company cars and have made claims for accidents in the past and never had a problem with them paying out...
I just really dont see what difference it makes whether the car is leased by me or leased by my employer... It is still me that drives it and keeps it at home!

[Nosha123]

Davethedog the do insure it.... well.. I insure it (I arrange the policy) THEY pay for it monthly.
Am a bit worried I now wont be able to keep my no claims if transferring to a company policy and thus if I transfer back again to a personal policy...

[WELSHYORKIE]

My company car is insured throught he company fleet policy. I find it strange that you have to sort that out. Surely it would be cheaper for the company to cover the whole fleet?

[boxtops]

Nosha, look at my last post, you were provided with some companies which do insure company cars, on your post last year.

[gingejbee]

But you know how insurance companies work- any little excuse to avoid paying out!

[Nosha123]

boxtops you have a far better memory than me!!!

THANK YOU!!!!

[Nosha123]

Done a quote with Endsleigh
Declared the accidents in last 5 yrs
Sheilas Wheels quoted me £64 per month for the new car (on a personal lease car)
Endsleigh quoted £250 per month!!!!!!!! With a £700 excess!!!
FLIPPIN ECK!

[danchip]

whats it matter how much it costs if the company is paying for it, get the best policy ignoring the cost and if anything is said tell them to sort your insurance outthemselves

[Nosha123]

well we are a small company and I am about to be made a director. We have had a tough couple of years and made cut backs to save money. These insiurance companies are just ripping us off!
£1500 price difference and the only difference is who pays the money to the Finance company who own the car!

[ABerrant]

You're welcome.

[boxtops]

Well I guess the other thing that your company could explore is having a block insurance policy to cover all the lease car drivers - rather than each of you exploring your own. When I worked in the brewery many years back, that's how it worked for us - we still had named drivers etc but we were all covered under the one policy.