 | Home > Finance & Insurance > Insuring a USW for Business Use |
 
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| Sockpuppet Member Since: 17 Sep 2011 Location: Leicester Posts: 479  
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I'm getting confused on insuring a Utility Wagon for business use.
Lots of companies will give me insurance in my name and add "care of my company" to the policy. My company is both registered keeper/owner of vehicle. E.g. Land Rover Insurance. They'll give me a policy, not my company and will add "c/o on the documents" now if it was stolen/crashed my company would be the ones out of pocket not me. All policies obviously have class 3 business use. AXA so far are the only ones I've found willing to give me an insurance quote in my business name. £1400 with 8 years no claims! If I go with one of the companies like LV= that reduces to £450. Still waiting for the likes of NFU etc. Obviously a grand saving is quote a lot but I don't want to be in the position of it going missing and then having to argue with the insurance co. So whose done this before it is usual to have me names as the policy holder and list the van as owned by/registered with the company on the policy? Seems a bit contrary to me. |
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13th Aug 2013 4:11pm |
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| Buzz Member Since: 11 Oct 2011 Location: Inverness Posts: 235 
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Mine is with NFU, no problems at all.
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13th Aug 2013 8:19pm |
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| Wangers Member Since: 19 Jan 2013 Location: West London Posts: 265 
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To get a buness policy you normally end up going through the main underwrighter so not though LV, Admiral etc but the people behind them Allianz, Zurich, Newline or Equity Red Star.
The others are just fronts or even brokers that are trading names underwritten by xxx. We have a few on the 42 stroing fleet through work and all ours goes through Allianz. Total for any driver, any vehicles owned, hired, leased or used by an employee (so not just a list of owned reg, but ANY driver to driver ANY vehicle) comes out at £1100 per vehicle (yes, £46200 pa). |
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13th Aug 2013 9:38pm |
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| Sockpuppet Member Since: 17 Sep 2011 Location: Leicester Posts: 479
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Cheers Wranglers.
It was confusing me as Direct Lines state on thier website that the company cannot be a registered keeper, owner etc of the vehicle. It must be the policy holder yet the bloke on the phone said otherwise. At the moment Axa are looking the best bet even at £1400 per year  THat was with a proper "broker" so looking the best bet at the moment. |
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13th Aug 2013 10:23pm |
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| spudfan Member Since: 10 Sep 2007 Location: Co Donegal Posts: 4636 
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Different country so different rules, but over here if you by a van and tax it privately you get standard private insurance. If you want to use your van as a commercial vehicle you must take out commercial insurance which is always more expensive.Maybe the same principle is being applied here. They are charging on the use of the vehicle i.e. commercial not on the manufacturers classification.If you were to get "private" insurace i.e. non business use, on the USW it would be just like insuring any private car. Once "commercial" or "business" use gets mentioned you get hit with a hefty premium. 1982 88" 2.25 diesel
1992 110 200tdi csw -Zikali 2008 110 2.4 tdci csw-Zulu 2011 110 2.4 tdci csw-Masai |
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16th Aug 2013 6:27pm |
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| WelshGas Member Since: 01 Oct 2010 Location: Vale of Glamorgan Posts: 935  
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Don't forget that normall, not always I admit, but normally a privately insured vehicle would be expected to cover fewer miles/year compared with a business insured vehicle which may also carry expensive equipment , so obviously there is a higher risk attached to business insurance and hence premium.
I may be wrong but was there not some changes made relating to the Registered Owner and Registered Keeper of a vehicle with relation to the V5 and insurance. I may be wrong, and it wouldn't be the first time 
Hey, I wasn't wrong [url] http://www.dvlni.gov.uk/vehicles/vehicle_f....pdf[/url] LANDYWATCH 
Neighbourhood Watch for Land Rover Owners http://www.landywatch.co.uk/smf2/index.php |
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16th Aug 2013 7:53pm |
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| NoDo$h Member Since: 18 Aug 2007 Location: Buried in deer guts in Dorset Posts: 972 
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LV aren't broker/resellers. They write their own book
54 Freelander modded for mud 2008 D3 SE 2010 90 XS SW 1978 88 Series 3 undergoing surgery with a new owner 2007 90 County Truck Cab - gone 2006 D3 SE - gone 2004 Freelander Sport - gay 1999 Disco V8 ES rotted to bits |
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16th Aug 2013 8:03pm |
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| Wangers Member Since: 19 Jan 2013 Location: West London Posts: 265
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LV= are underwritten by Prudential. So if you went stratight to Pru, they would [i]probably[/i] do better.
All is based amongst other algorythems, miles covered, times of day these miles are covered, the vehicles ya de ya, so Business use confirms that use between 0900 anc 1700 Mon - Fri WILL be undertaken. And when are MOST vehicles on the road thus more likely to have an incident - Mon to Fri, 0900 - 1700. So a private use (moajority of use out of busness hours) with a decared business mileage will be lower risk than a Business vehicle. I dont want this to be a debate on the rights and wrongs of figuring out premiums, more of a state of fact of who is out when. Obviously if it were a free country, all we defenders (and other varient) owners could just take the direct, crow flies route. Cut out roads altogether. (damed, that;s a fine idea). |
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16th Aug 2013 9:07pm |
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| NoDo$h Member Since: 18 Aug 2007 Location: Buried in deer guts in Dorset Posts: 972
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No, they're not. LV write their own book. Suggest you check their policy documentation (available online) or, I dunno, speak with someone who works with them from time to time 
54 Freelander modded for mud 2008 D3 SE 2010 90 XS SW 1978 88 Series 3 undergoing surgery with a new owner 2007 90 County Truck Cab - gone 2006 D3 SE - gone 2004 Freelander Sport - gay 1999 Disco V8 ES rotted to bits |
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16th Aug 2013 9:21pm |
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| JJ Member Since: 18 May 2009 Location: Winchester Posts: 932 
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I have used Autonet insurance group in the past to insure a small fleet ( all owned by the ltd co ) and they were very competitive for me. They are a broker but sometimes the brokers get better rates than individuals.
I have just moved to Privilege for full commercial insurance on a Transit van 8 years no claims £295 any driver. Usual caveats of the best deal not available to all !!! |
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17th Aug 2013 11:02am |
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| Sockpuppet Member Since: 17 Sep 2011 Location: Leicester Posts: 479
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NFU came up trumps.
£800 policy in business name, 0 years no claims. |
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23rd Aug 2013 5:43pm |
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