[MYLR] Young Driver Insurance through Company

[ROTA]

Unsure if you're in the whatsapp group but there was a chat about changing the insurance quote by changing job title and someone posted a link which shows what reductions you can get based on a bunch of factors https://www.moneysavingexpert.com/car-insurance-compareplus/

I haven't been on that link yet but I went back to my Churchill quote and tried changing my job title. My mind is blown. I changed my job title from 'Computer Engineer' to 'Software Engineer' and the quote went down £40. I then changed it to 'Computer Programmer' and it went down another £150

I haven't tried changing the 'Industry' yet but that may make a difference too.

Go and see for yourselves!

Oh yeah I’ve definitely heard about job picking and sometimes I’m a Software Engineer and sometimes im a company director.

I found this tool useful which lets you compare without getting actual quotes;

https://www.moneysavingexpert.com/insurance/car-insurance-job-picker/

 

[adambg]

Wow that's some really good insight! Especially on the mileage because I've been variable with mine and estimating 8,000 - 10,000. Good to know the difference here is minimal and I should probably go for the safer option.

Were both Direct Line and Churchill okay with the setup with the company being the owner and the director being the registered keeper? Is that how you've gone about it?

Now I have a delivery date I've gone back and got quotes again. Churchill's website only asks who is the registered keeper, they dont ask about the owner. I phoned them and the guy basically said they only care about the registered keeper now, so the owner is kind of irrelevant. I felt uneasy about it so asked if they could place a note on the account that the car is owned by the company, and he said that it wasnt necessary because all calls are recorded anyway

 

[ROTA]

Now I have a delivery date I've gone back and got quotes again. Churchill's website only asks who is the registered keeper, they dont ask about the owner. I phoned them and the guy basically said they only care about the registered keeper now, so the owner is kind of irrelevant. I felt uneasy about it so asked if they could place a note on the account that the car is owned by the company, and he said that it wasnt necessary because all calls are recorded anyway

So have you put yourself as the keeper?

 

[adambg]

So have you put yourself as the keeper?

Yes. It seems pretty unambiguous reading through posts on this forum that the ltd company will be the owner but you personally will be the registered keeper. I have noted a few people saying Tesla 'messed up' the V5C and ended up putting the company as the registered keeper (incorrectly) so had to get it changed. Some people suggest putting both to be on the safe side i.e. registered keeper is 'your name, your company ltd'. I've just contacted Tesla asking them to confirm who will be the registered keeper on the V5C based on what I entered on my account when I first ordered

 

[adambg]

Now I have a delivery date I've gone back and got quotes again. Churchill's website only asks who is the registered keeper, they dont ask about the owner. I phoned them and the guy basically said they only care about the registered keeper now, so the owner is kind of irrelevant. I felt uneasy about it so asked if they could place a note on the account that the car is owned by the company, and he said that it wasnt necessary because all calls are recorded anyway

Update: I got my reg this morning so just called up Churchill to actually buy my insurance. (I checked all companies & comparison sites again and Churchill still came out cheapest for me). The lady who answered this time confirmed they only care about the registered keeper, but she was able to 'add a note to my policy' to state the owner was my ltd company. I have no idea what this really means but I heard her type something in whilst saying it outloud as she did it

 

[adambg]

Another update: as mentioned in my post above, yesterday I bought my insurance for £1523. Today I went on and got a new quote (I plan on doing this every day until my collection date to see if it goes down) and for whatever reason today it's quoting £1379. So I phoned them up and they said they can't give refund me the difference, but I can cancel the one I bought yesterday and get a full refund, and then separately buy the cheaper quote. Obviously this only works if you have enough cash in the account because the refund will take a week or so, but luckily I do so I've done it and saved £144

 

[ROTA]

Another update: as mentioned in my post above, yesterday I bought my insurance for £1523. Today I went on and got a new quote (I plan on doing this every day until my collection date to see if it goes down) and for whatever reason today it's quoting £1379. So I phoned them up and they said they can't give refund me the difference, but I can cancel the one I bought yesterday and get a full refund, and then separately buy the cheaper quote. Obviously this only works if you have enough cash in the account because the refund will take a week or so, but luckily I do so I've done it and saved £144

That’s a great idea. I think I’ll do the same. Lock in a price then keep searching for a cheaper deal. Thanks!

 

[ROTA]

Just wanted to update this thread as I did some more insurance searching yesterday as Q4 ships are being discussed.

I got a £4,823.41 quote from Admiral for Multi-car insurance. This includes the Model Y and my existing BMW 218i which will become my wife's car. This is a significant drop to what I was first seeing so I'm hoping the decrease will continue up until I need to take insurance out.