Insurance

[hairysteve]

I'm just double-checking my logic here, so hope you can help me

Picking up the MY in under 2 weeks and the V5 will have my personal name and company name listed. The vehicle was paid (cash) by my LTD company and I aim to insure it via my personal insurance to leverage my NCD. Does anyone see any issues with the approach of the registered keeper being my name and company name, as they are at the same address?

 

[chromium]

Currently with LV. Asked about the Y when I was changing plates on our other car and was told check 1st March. Called today to be told it'll be another couple of weeks before it's on their system. A lot of use when I'm collecting the Y on Friday. Now with Directline. They weren't the absolute cheapest but with extras there wasn't much in it and I change the reg number over online for free.

 

[Bunes]

I'm just double-checking my logic here, so hope you can help me

Picking up the MY in under 2 weeks and the V5 will have my personal name and company name listed. The vehicle was paid (cash) by my LTD company and I aim to insure it via my personal insurance to leverage my NCD. Does anyone see any issues with the approach of the registered keeper being my name and company name, as they are at the same address?

What I did, and mentioned earlier in the thread, was to remove my company name from the registered keeper details, as it’s not necessary and makes no difference to HMRC (my accountants confirmed). Email Tesla to remove company name and keep registered keeper as your personal name/address.
I insured with Direct Line, they only need registered keeper details, I double checked it was ok that my LTD company owned the car but I was personally the registered keeper and they said it was fine. Direct Line only needed the owner and registered keeper addresses to match, which they do as my LTD company address is the same as mine.
Obviously best if you check with your accountant for peace of mind but your situation is identical to mine and everyone I spoke to said it was fine.

 

[greenbottle123]

What I did, and mentioned earlier in the thread, was to remove my company name from the registered keeper details, as it’s not necessary and makes no difference to HMRC (my accountants confirmed). Email Tesla to remove company name and keep registered keeper as your personal name/address.
I insured with Direct Line, they only need registered keeper details, I double checked it was ok that my LTD company owned the car but I was personally the registered keeper and they said it was fine. Direct Line only needed the owner and registered keeper addresses to match, which they do as my LTD company address is the same as mine.
Obviously best if you check with your accountant for peace of mind but your situation is identical to mine and everyone I spoke to said it was fine.

but not everyone has their LTD address the same as their personal, so its better to check other insurers if they allow owner + keeper to be different entities

 

[hairysteve]

What I did, and mentioned earlier in the thread, was to remove my company name from the registered keeper details, as it’s not necessary and makes no difference to HMRC (my accountants confirmed). Email Tesla to remove company name and keep registered keeper as your personal name/address.
I insured with Direct Line, they only need registered keeper details, I double checked it was ok that my LTD company owned the car but I was personally the registered keeper and they said it was fine. Direct Line only needed the owner and registered keeper addresses to match, which they do as my LTD company address is the same as mine.
Obviously best if you check with your accountant for peace of mind but your situation is identical to mine and everyone I spoke to said it was fine.

Thanks for your update, I have emailed my accountant for their take on this.

I found this HMRC mention last night

After an IR35 inspection by the tax man many years ago, he complained that my company owned car at that time was registered in my personal name (no idea how he knew that before the inspection!), so I sent a letter to DVLA asking them to amend the V5 so it had BOTH my name and the company name on. Which they did, without changing the number of owners.

Switching from personal to Company/Director car...

www.speakev.com

 

[Bunes]

Thanks for your update, I have emailed my accountant for their take on this.

I found this HMRC mention last night

After an IR35 inspection by the tax man many years ago, he complained that my company owned car at that time was registered in my personal name (no idea how he knew that before the inspection!), so I sent a letter to DVLA asking them to amend the V5 so it had BOTH my name and the company name on. Which they did, without changing the number of owners.

Switching from personal to Company/Director car...

www.speakev.com

Be good to hear your accountants take, like I said my accountant had absolutely no problem with the V5 being in my name and they’ve always been very black and white about what’s ok and what’s not.

 

[Bunes]

but not everyone has their LTD address the same as their personal, so its better to check other insurers if they allow owner + keeper to be different entities

When I used the comparison sites it allowed me to specify a different owner and keeper. I have another car with Aviva and they specify owner and keeper too

 

[hairysteve]

Be good to hear your accountants take, like I said my accountant had absolutely no problem with the V5 being in my name and they’ve always been very black and white about what’s ok and what’s not.

I used the Meerkats last night, and they only ask for the policyholder name (not owner) and also I split business and personal mileage. Could you share which comparison site you used?

When I spoke to A-Plan yesterday, they asked if I was the owner and registered keeper.

Seems there is no consistancy

 

[Pink Duck]

Amused me that those insurers having difficulties in readying Model Y quotes in time are actually further ahead than MoreTh>n, which still doesn't list the 75D S trim 6 years later in their online quoter. Oddly their LowMiler version supports that particular trim, but server-side fails at the quote display stage! (might be because when I tried 70D they declined to quote in the main one)

 

[Hornet4000]

Vitality have come to the rescue. As I have health insurance with them I noticed them advertising their insurance and they are half what the other quotes I am getting today, £440.

The cheapest the other companies are offering via gocompare etc is £770 and that’s with a black box high considering I am a 42 year old living in a quiet village with a spotless licence and claims history is a bit annoying.

I tried to obtain a quote through Vitality today but the Model Y wasn't showing as an option on the website. I then called customer services and was told that Vitality couldn't insure the Model Y. How did you manage to get a quote from them?

 

[bc1979]

I tried to obtain a quote through Vitality today but the Model Y wasn't showing as an option on the website. I then called customer services and was told that Vitality couldn't insure the Model Y. How did you manage to get a quote from them?

It’s a Model 3 I am getting.

 

[Hornet4000]

It’s a Model 3 I am getting.

That explains it. Back to the drawing board for me....

 

[hairysteve]

My ICE cars are quicker to 60mph than the MY yet the MY insurance is twice as much. Insurance companies are taking the piss and we have no choice but to pay up.

 

[Pink Duck]

Record quote through QuoteZone.co.uk? (interestingly shows decline reasons too). Amuses that they want more to include a courtesy car!

Likely because their telematics don't work with Tesla's OBD-II implementation, so priced to exclude while giving a result.

 

[yessuz]

Record quote through QuoteZone.co.uk (interestingly shows decline reasons too)? Amuses that they want more to include a courtesy car!

View attachment 777752
Likely because their telematics doesn't work with Tesla's OBD-2 implementation, so priced to exclude while giving a result.

10k omg

 

[yessuz]

My ICE cars are quicker to 60mph than the MY yet the MY insurance is twice as much. Insurance companies are taking the piss and we have no choice but to pay up.

most probably because more or less anything more serious is write off

 

[Pink Duck]

Still better than eSure/MoreTh>n/1st Central/Advance Insurance/BG Insurance/First Alternative/Marshmallow - who all fail to handle the S models that Tesla didn't submit to Thatcham Approval for Insurance Group Rating! Effectively prevents the Model S 75, 75D, 100D, P100D, Standard Range, Long Range, Performance, Long Range Plus and Plaid from getting past the registration plate / manual look-up stage during quote.

 

[Rirawin]

Purchased the car through the Wife’s company (she is an employee and it’s not her company) as a hire purchase (via Black Horse). Invoice settled, have the reg number and collection next Tuesday. However, had a few questions regarding insurance:

1) When I select who the car is registered to, I’m planning to put my Wife’s name, with that in mind how do I check to see if her name is going to be on the V5C and not the company’s name? Within the Tesla account’s Completed Tasks under: “Registration Details The registrant(s) need to be present for delivery.” it has her name and then below, the company name and address. I gather from this her name will indeed be on the V5C?

2) The registration number isn’t on the DVLA system and I’m finding I can’t purchase the insurance online, instead it appears I need to call them and provide them it along with the quote number, which means I’d lose out on any potential cashback savings from cashback sites like Quidco. Direct Line being the exception as I followed through to it via the Tesla referral link. Guess there’s no other way?

3) Reading Mr Miserable’s recovery nightmare had me looking at breakdown recovery. With my previous old banger I was with LV and had Britannia recovery, but looking like they’re pretty pricey as a stand-alone purchase. I also notice that when you purchase Direct Line insurance through Tesla I’m unable to add their Green Flag recovery to it. Looking at breakdown recovery alternatives I found Autoaid (as recommended by another Tesla community) the cheapest as they recover using flatbeds but when reading reviews from Which? and Trustpilot, they appear to be the worst out there… Britannia on the other hand is rated the highest. Guess you get what you pay for. Does anyone have any other recommendations?

 

[Pink Duck]

Nova Direct and Sheila’s Wheels similarly failed on looking up my plate for quote by phone/online. I spent time yesterday making complaints/contact with each of those companies to try to boost marketplace competitiveness. Pondering going to the insurance regulator PRA if they all shrug.

Credit to Marshmallow though for quality, honest web-based chat support.

 

[hairysteve]

Purchased the car through the Wife’s company (she is an employee and it’s not her company) as a hire purchase (via Black Horse). Invoice settled, have the reg number and collection next Tuesday. However, had a few questions regarding insurance:

1) When I select who the car is registered to, I’m planning to put my Wife’s name, with that in mind how do I check to see if her name is going to be on the V5C and not the company’s name? Within the Tesla account’s Completed Tasks under: “Registration Details The registrant(s) need to be present for delivery.” it has her name and then below, the company name and address. I gather from this her name will indeed be on the V5C?

2) The registration number isn’t on the DVLA system and I’m finding I can’t purchase the insurance online, instead it appears I need to call them and provide them it along with the quote number, which means I’d lose out on any potential cashback savings from cashback sites like Quidco. Direct Line being the exception as I followed through to it via the Tesla referral link. Guess there’s no other way?

3) Reading Mr Miserable’s recovery nightmare had me looking at breakdown recovery. With my previous old banger I was with LV and had Britannia recovery, but looking like they’re pretty pricey as a stand-alone purchase. I also notice that when you purchase Direct Line insurance through Tesla I’m unable to add their Green Flag recovery to it. Looking at breakdown recovery alternatives I found Autoaid (as recommended by another Tesla community) the cheapest as they recover using flatbeds but when reading reviews from Which? and Trustpilot, they appear to be the worst out there… Britannia on the other hand is rated the highest. Guess you get what you pay for. Does anyone have any other recommendations?

1) Email [email protected] and ask them to confirm that it is your wife's name.