Can’t get insurance! (UK)

[Blueskye]

Hello people,
I’m back after an awfully long time.

Is anyone else experiencing a bloody horrible time getting insurance?

My 2020 SR+ Model 3 seems to be comparable to a Boeing 747 to insure lately .


My insurance is literally running out and I don’t have a replacement.. all online quotes (including brokers) are coming back at £7,000-£9,000.

It seems several insurers don’t like that it’s owned by a ltd but on certain sites that give you an indication of why seem to allude at the M3 to be the problem..

I’m at a loss as even my own insurer (DL) decided not to offer renewal even after begging talking to several people there was nothing they could do.

I’ve tried ALL the insurers listed on the Tesla site and they either declined to quote or offered silly money.

Non London postcode, over 30 F, full UK licence 8yrs, no penalties, endorsements or whatever, 8NCD, 1 non fault accident (a deer encounter), 7,000 miles (1,000 business miles).

(Despite what I thought it’s not the accident! Causing these quotes as same comes back even without it )

 

[freekie]

M3 insured with DL since 2019. Decided to get a Model Y through my limited company. DL wouldn’t even quote! Another well known company quoted over 4k. Ended up searching through one of the comparison sites and went for more personal type insurance. I had similar NCD to yours and again no points but I’m old enough to be your parent!

 

[Aliomenti]

There must be more to it, to get crazy quotes like that. Mine was £800 this year, including a no fault claim. Perhaps it’s to do with your car being seized for lack of insurance? I know you said the police straightened it out, but who knows what resides on the databases.

 

[Blueskye]

There must be more to it, to get crazy quotes like that. Mine was £800 this year, including a no fault claim. Perhaps it’s to do with your car being seized for lack of insurance? I know you said the police straightened it out, but who knows what resides on the databases.

Doubt it if I’m being honest..
It was a mess up on DL side of things, as we’ve always had a policy running..

Reading elsewhere it seems to be more connected to company ownership of the car as when I put private ownership the quotes are immediately reasonable

 

[Blueskye]

M3 insured with DL since 2019. Decided to get a Model Y through my limited company. DL wouldn’t even quote! Another well known company quoted over 4k. Ended up searching through one of the comparison sites and went for more personal type insurance. I had similar NCD to yours and again no points but I’m old enough to be your parent!

Wow that’s crazy.
I was told last year that DL will not insure company held vehicles anymore so that may be it..
What do you mean by personal type? - as in you said you own it or personal use only?
Which insurer did you go through?

 

[Jason71]

Wow that’s crazy.
I was told last year that DL will not insure company held vehicles anymore so that may be it..
What do you mean by personal type? - as in you said you own it or personal use only?
Which insurer did you go through?

a lot of insurers seem to want to you to be the owner OR registered keeper but don't like it if you are neither.
There seems to be this idea that if you are neither you have no skin in the game and will take less care?

I have two ltd company owned vehicles but my wife and I are the registered keepers of them and this seems to avoid any problems.
I know adding an extra keeper to a vehicle is not desirable come resale but neither is not being able to get insurance so why not just switch the registered keeper from the company to yourself.
There is nothing illegal or unethical about it. The Keeper is nothing to do with ownership it is supposed to litterally be the person who is in possession of the vehicle i.e. the person who keeps it i.e. you.

 

[btc1k]

Mine is leased by ltdco. Insured personally with DL. Keeper is leaseco. No issue.

 

[freekie]

a lot of insurers seem to want to you to be the owner OR registered keeper but don't like it if you are neither.
There seems to be this idea that if you are neither you have no skin in the game and will take less care?

I have two ltd company owned vehicles but my wife and I are the registered keepers of them and this seems to avoid any problems.
I know adding an extra keeper to a vehicle is not desirable come resale but neither is not being able to get insurance so why not just switch the registered keeper from the company to yourself.
There is nothing illegal or unethical about it. The Keeper is nothing to do with ownership it is supposed to litterally be the person who is in possession of the vehicle i.e. the person who keeps it i.e. you.

My Ltd company is the owner. I am the registered keeper. The £4k was for having the insurance in company name. By personal I meant I put the insurance in my name as registered keeper. Went with Admiral. I should have added that DL would let me change the policy for my M3 to my MY as personal car but that would have caused me additional complications as M3 was a private car not a company car and was going to have both cars for a week or 2. Admiral was less expensive than DL.

 

[Jason71]

My Ltd company is the owner. I am the registered keeper. The £4k was for having the insurance in company name. By personal I meant I put the insurance in my name as registered keeper. Went with Admiral. I should have added that DL would let me change the policy for my M3 to my MY as personal car but that would have caused me additional complications as M3 was a private car not a company car and was going to have both cars for a week or 2. Admiral was less expensive than DL.

I probably replied to the wrong post because I was really targeting the OP with my comments. Seems like this might be a good solution to his problem

 

[UkNorthampton]

Hello people,
I’m back after an awfully long time.

Is anyone else experiencing a bloody horrible time getting insurance?

My 2020 SR+ Model 3 seems to be comparable to a Boeing 747 to insure lately .


My insurance is literally running out and I don’t have a replacement.. all online quotes (including brokers) are coming back at £7,000-£9,000.

It seems several insurers don’t like that it’s owned by a ltd but on certain sites that give you an indication of why seem to allude at the M3 to be the problem..

I’m at a loss as even my own insurer (DL) decided not to offer renewal even after begging talking to several people there was nothing they could do.

I’ve tried ALL the insurers listed on the Tesla site and they either declined to quote or offered silly money.

Non London postcode, over 30 F, full UK licence 8yrs, no penalties, endorsements or whatever, 8NCD, 1 non fault accident (a deer encounter), 7,000 miles (1,000 business miles).

(Despite what I thought it’s not the accident! Causing these quotes as same comes back even without it )

LV said they didn't care who owns - in fact it's on a multi-car policy with a non-company car. From memory I'm registered keeper as I think I was when I previously had company cars. But I can't be sure.

 

[Dilly]

My renewal just in from Churchill.
Private owner and keeper. £673 last year. £731 this year. Includes breakdown/recovery.
25 years+ NCB
Not too dire in reality

 

[piffmunday]

We have 3 cars including a Tesla Model 3 owned by my limited company. Our insurance for everything business related including cars is less than you are being quoted. We use Aviva through a broker.

 

[btc1k]

I was going to say - for company insurance (if thats what you must have), use a broker.

Difficulty in using a retail insurance company for a commercial policy,.

 

[Blueskye]

I was going to say - for company insurance (if thats what you must have), use a broker.

Difficulty in using a retail insurance company for a commercial policy,.

@piffmunday and @btc1k I wanted to specify that I’m getting insurance for myself and spouse for personal miles and getting to maybe meet a client here or there which wouldn’t be covered by commuting.

Business structure changed since getting the car so now we’re remote and there’s way less driving hence no need for a commercial policy as such..

I think the mainstream insurers don’t love that it both owned and v5C to a limited company .

 

[Blueskye]

I wish I didn’t listen to my accountant!
I wanted to register the car to myself but didn’t as they’ve advised it would be “cleaner” this way if HMRC ever questions it (as low mileage for business).
I could have done that and would have resolved many issues..
Annoyingly I changed keeper last year from company A to company B and now really bloody annoyed that I may have to add a “third” keeper when I’ve owned the car from first registration
Also not sure what the finance company will have to say about this..

 

[piffmunday]

I wish I didn’t listen to my accountant!
I wanted to register the car to myself but didn’t as they’ve advised it would be “cleaner” this way if HMRC ever questions it (as low mileage for business).
I could have done that and would have resolved many issues..
Annoyingly I changed keeper last year from company A to company B and now really bloody annoyed that I may have to add a “third” keeper when I’ve owned the car from first registration
Also not sure what the finance company will have to say about this..

Accountants

 

[Blueskye]

Those who have a broker any chance you could PM me the company/details?

Also, if I get a commercial insurance, would that cover me for personal miles or would I need a second policy for that?

Are the commercial policies as good as the retail ones regarding things like courtesy car, windshield replacements, excess etc?
Can you move NCD between the two? (If for example switch back to a retail one next year?)

Thank you

@btc1k, @freekie, @piffmunday, @UkNorthampton

 

[piffmunday]

Those who have a broker any chance you could PM me the company/details?

Also, if I get a commercial insurance, would that cover me for personal miles or would I need a second policy for that?

Are the commercial policies as good as the retail ones regarding things like courtesy car, windshield replacements, excess etc?
Can you move NCD between the two? (If for example switch back to a retail one next year?)

Thank you

@btc1k, @freekie, @piffmunday, @UkNorthampton

I will drop you a message when I remember who it is. It won't come back to me .

I might have to check on Monday when I get back in the office

 

[Blueskye]

a lot of insurers seem to want to you to be the owner OR registered keeper but don't like it if you are neither.
There seems to be this idea that if you are neither you have no skin in the game and will take less care?

I have two ltd company owned vehicles but my wife and I are the registered keepers of them and this seems to avoid any problems.
I know adding an extra keeper to a vehicle is not desirable come resale but neither is not being able to get insurance so why not just switch the registered keeper from the company to yourself.
There is nothing illegal or unethical about it. The Keeper is nothing to do with ownership it is supposed to litterally be the person who is in possession of the vehicle i.e. the person who keeps it i.e. you.

Thanks.
I was advised against it initially by my ex accountant… I now wish I hadn’t listened and put personal name.
What’s annoying is that I’ve just last year added a keeper as switched from company A to Company B… ideally reluctant to add a third keeper
Just barely got over the 2nd keeper
Assuming you have finance (sorry if you don’t), but do I need to let my finance company now about the change in V5C? it’s a business finance (similar to business HP) so we have a lot of freedom when it comes to it..

 

[piffmunday]

Thanks.
I was advised against it initially by my ex accountant… I now wish I hadn’t listened and put personal name.
What’s annoying is that I’ve just last year added a keeper as switched from company A to Company B… ideally reluctant to add a third keeper
Just barely got over the 2nd keeper
Assuming you have finance (sorry if you don’t), but do I need to let my finance company now about the change in V5C? it’s a business finance (similar to business HP) so we have a lot of freedom when it comes to it..

Honestly I don't know with regards to the finance, my thoughts are you should tell them but either way, with finance, whoever is on the v5 doesn't matter, they still own the car until you pay the finance off as the v5 is not proof of ownership.