If you have a car through a limited company who are you insured by?

[User964253]

I’m confused. I am sole director of a limited company. My car has died and I need to lease one through the business. But all of the usual compare the market etc only seem to insure individuals not companies and the company car insurers only insure fleets Of two or more cars (dh does work part time for the business but certainly doesn’t need a car)

if you are a small business owner with a car via the business how is this insured?

I had the same problem so ended up doing it through my bank who offer insurance. You should also ask the leasing company.

Oh that’s helpful thank you. Do you mind me asking which bank?

I’ve had admiral and direct line in the past

See when I go onto their websites I can only seem to get a quote in my own name, not in the company name.

Why can't you insure it through your name ?

Because the car will be leased through the company. It’s in the company name

I’d google something like fleet insurance

Fleet insurance is only for two or more vehicles.

business car insurance seemed right but seems to be just for normal car insurance but where the vehicle is also used for business commuting and travel (don’t seem to be able to do that in the company name)

It doesn't matter ? You can insure the car in your name and you choose that it's a leased vehicle through a company. Literally just done it. With admiral.

I don’t think the lease name needs to be the policyholder’s name, I’d call and ask.

Ah well that’s interesting. I thought it had to be insured in the name of the company since as an individual I have no insurable interest.

You don’t have to be the owner of the vehicle to insure it.

Admiral

No, not at all. The policy holder should be the main person driving the car. And you would choose social, domestic, commuting and business use. You have to estimate how many miles for business use.

So you just disclose to the insurance company that you are not the owner if the vehicle and that it’s leased by the company?

Correct! Even on the compare websites their drop down boxes give you alternative options if you're not the legal owner of the car.

I’ve also just found something that says if it’s leased then the insurance must be in the name of the company. However it is possible for the sole director to be named as long as it is disclosed that the director is not personally the registered keeper and the lease is between the finance company and the limited company rather than the finance company and the director. Apparently admiral is the go to so I’ll ring them.