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EV company car insurance?

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Comments

  • #32
    caster
    Registered Users Posts: 338 ✭✭caster


    pobber1 wrote: »
    For FBD I selected 'Social, domestic, pleasure purposes and, use in connection with yourbusiness, including the carriage of goods.' on their website and then explained to the agent that the car would be owned by the company.

    My understanding is that the key thing is that you fully own the company. Therefore as you own the company and the company owns the car, you can get the insurance in your name. That's how it was explained to me by FBD.


  • #33
    pobber1
    Registered Users Posts: 146 ✭✭pobber1


    caster wrote: »
    My understanding is that the key thing is that you fully own the company. Therefore as you own the company and the company owns the car, you can get the insurance in your name. That's how it was explained to me by FBD.

    Thanks, I'll have to speak to them again as I don't fancy loosing all my NCB.


  • #34
    pobber1
    Registered Users Posts: 146 ✭✭pobber1


    caster wrote: »
    My understanding is that the key thing is that you fully own the company. Therefore as you own the company and the company owns the car, you can get the insurance in your name. That's how it was explained to me by FBD.

    Was that commercial insurance?


  • #35
    MightyMunster
    Registered Users, Registered Users 2 Posts: 1,290 ✭✭✭MightyMunster


    pobber1 wrote: »
    Was that commercial insurance?
    Sounds like private/personal insurance


  • #36
    pobber1
    Registered Users Posts: 146 ✭✭pobber1


    MightyMunster wrote: »
    Sounds like private/personal insurance

    I rang them today but couldn't get a straight answer from them about how to insure a company car with a personal policy.


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  • #37
    Water John
    Registered Users, Registered Users 2 Posts: 21,743 ✭✭✭✭Water John


    As I said above, call to one of their offices. FBD are used to this type of business, as many farmers are now Ltd Cos. Since the Co owns the vechicle that is who has to insure it IWT. I will have that conversation about my NCB later in the year.
    Never found phone or online a good way to set up a new option on anything, grand way to renew.


  • #38
    pobber1
    Registered Users Posts: 146 ✭✭pobber1


    Water John wrote: »
    As I said above, call to one of their offices. FBD are used to this type of business, as many farmers are now Ltd Cos. Since the Co owns the vechicle that is who has to insure it IWT. I will have that conversation about my NCB later in the year.
    Never found phone or online a good way to set up a new option on anything, grand way to renew.

    There's no problem setting up the policy in the company's name. The issue is the surrender of personal NCB to the company and therefore any personal policy taken out in the future would have to be done with zero NCB.


  • #39
    Water John
    Registered Users, Registered Users 2 Posts: 21,743 ✭✭✭✭Water John


    It will be a pity if I have to hold onto a private policy on another car to keep my NCB. I presume any banger would do, since it wouldn't move.


  • #40
    caster
    Registered Users Posts: 338 ✭✭caster


    pobber1 wrote: »
    Was that commercial insurance?

    Not sure. But they fully understood the situation i.e. that it was a company owned car so I assume I would be fully covered. I would look in to it further before going ahead (plus they do not seem to cover the Model 3, yet anyway).


  • #41
    pobber1
    Registered Users Posts: 146 ✭✭pobber1


    caster wrote: »
    Not sure. But they fully understood the situation i.e. that it was a company owned car so I assume I would be fully covered. I would look in to it further before going ahead (plus they do not seem to cover the Model 3, yet anyway).

    Thanks.

    I rang FBD again today and finally got talking to someone who understood what I was asking. They said it doesn't matter that the company is 100% owned by one individual, if the car is in the companies name then the policy has to be too.

    Transferring your NCB to the company means it's gone.

    They did say that because I would be a named driver on the company policy that if I did ever get a personal policy again I would have that named driver experience to use to help discount the price of the policy, although this wouldn't be as valuable as my own NCB.

    It's kind of sickening that I'd have to wave goodbye to 20 years NCB. I'm going to try a few more insurers but I'm not optimistic.


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  • #42
    Calahonda52
    Registered Users, Registered Users 2 Posts: 12,526 ✭✭✭✭Calahonda52


    caster wrote: »
    My understanding is that the key thing is that you fully own the company. Therefore as you own the company and the company owns the car, you can get the insurance in your name. That's how it was explained to me by FBD.

    This is not correct.
    You don't own the car and you cannot have an non life related insurable interest in something you don't own.

    “I can’t pay my staff or mortgage with instagram likes”.



  • #43
    spakman
    Registered Users Posts: 1,131 ✭✭✭spakman


    Calahonda52 wrote: »
    caster wrote: »
    My understanding is that the key thing is that you fully own the company. Therefore as you own the company and the company owns the car, you can get the insurance in your name. That's how it was explained to me by FBD.

    This is not correct.
    You don't own the car and you cannot have an non life related insurable interest in something you don't own.

    He is correct - I have a policy as described.


  • #44
    caster
    Registered Users Posts: 338 ✭✭caster


    spakman wrote: »
    He is correct - I have a policy as described.

    Is it with FBD?


  • #45
    pobber1
    Registered Users Posts: 146 ✭✭pobber1


    spakman wrote: »
    He is correct - I have a policy as described.

    If you could provide some specifics that would be great, thanks.


  • #46
    pobber1
    Registered Users Posts: 146 ✭✭pobber1


    Has anyone managed to find an insurer that provides
    personal policies to cover a company car? Some posters
    seem to have managed it.

    I've tried FBD, Liberty and 123 with no success.


  • #47
    eoin42
    Registered Users Posts: 14 ✭eoin42


    I got it with Allianz a few months back. In my name.
    It did take a few phone calls and a bit of explaining.
    I was with 123 before and they didnt do it so I had to change provider.
    There was a bit of hassle when enacting the new insurance policy as the no claims could only be on one policy at a time. Allianz had to know that the previous policy was cancelled before they could enact the next. So I let them know in advance of the time I was switching cars and they called me, so no waiting on hold.


  • #48
    pobber1
    Registered Users Posts: 146 ✭✭pobber1


    eoin42 wrote: »
    I got it with Allianz a few months back. In my name.
    It did take a few phone calls and a bit of explaining.
    I was with 123 before and they didnt do it so I had to change provider.
    There was a bit of hassle when enacting the new insurance policy as the no claims could only be on one policy at a time. Allianz had to know that the previous policy was cancelled before they could enact the next. So I let them know in advance of the time I was switching cars and they called me, so no waiting on hold.

    Thanks. I rang Allianz and they told me they don't do company car insurance. :(


  • #49
    spakman
    Registered Users Posts: 1,131 ✭✭✭spakman


    pobber1 wrote: »
    If you could provide some specifics that would be great, thanks.

    I went through quotedevil, the policy is underwritten with Axa.


  • #50
    eoin42
    Registered Users Posts: 14 ✭eoin42


    I got it at the end of March. Maybe they may no longer do this.
    Or you may have got through to someone unfamiliar with this type of ins - Might be worth your while trying again.


  • #51
    pobber1
    Registered Users Posts: 146 ✭✭pobber1


    spakman wrote: »
    I went through quotedevil, the policy is underwritten with Axa.

    Rang QuoteDevil, no messing with them , they knew exactly what I was talking about; personal policy covering company car, driving of other cars, NCB stays with me, underwritten by Axa.

    Thanks spakman!


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  • #52
    Water John
    Registered Users, Registered Users 2 Posts: 21,743 ✭✭✭✭Water John


    Thanks lads that's really good to know if I run into trouble later in the year when selling my private car.


  • #53
    Mc-BigE
    Registered Users, Registered Users 2 Posts: 1,033 ✭✭✭Mc-BigE


    i have a company policy on my van which i would like to transfer to an EV company car next year, im a named driver on the policy with full NCB, looks like i can use my NCB from the van to the company car (not sure if i surrender the NCB or can use the existing policy)

    anyway my insurance is up for renewal in Jan2020 (before i get the EV) so it might make it easier to renew my van with the same/best insurance company that will make the transfer as easy as possible.

    Im a 2 director LTD small company and i dont use the van (or electric car) or carrying tools/laptops etc. i only drive from home to place of work, with some very limited traveling to site offices car park


This discussion has been closed.
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