I thought there was a recent thread on this, but have been unable to find it to see the answers, so....
I'm a company owner and looking at the merits of getting rid of my personal car and getting an electric car through the company instead. The financial benefits of doing so seem fairly clear due to the 0% BIK EVs currently attract, however the last piece I'm trying to understand is the impact on my private insurance No Claims history.
I guess there are two questions -
1) Is it possible for me to take a personal insurance policy on a car that is owned by the company, to maintain my No Claims, or is a company policy mandatory if I go this route? My wife and I would be the only drivers of the car, no other company employees.
2) If I do move to a company policy, and in 5 years time decide to move back to a privately owned car/policy, what can I expect in-terms of insurance premiums? I'd be 40ish at that time, so I presume I wouldn't be going back to my teen days of paying €2500, but I guess I wouldn't be getting quotes for €350 either. Anybody done it recently and have a sense of how bad you're hit? Has the insurance industry matured at all since the last thread on this topic to the point where any of them will consider company driving towards your No Claims history when you go private?
Cheers for any thoughts!
I'm a company owner and looking at the merits of getting rid of my personal car and getting an electric car through the company instead. The financial benefits of doing so seem fairly clear due to the 0% BIK EVs currently attract, however the last piece I'm trying to understand is the impact on my private insurance No Claims history.
I guess there are two questions -
1) Is it possible for me to take a personal insurance policy on a car that is owned by the company, to maintain my No Claims, or is a company policy mandatory if I go this route? My wife and I would be the only drivers of the car, no other company employees.
2) If I do move to a company policy, and in 5 years time decide to move back to a privately owned car/policy, what can I expect in-terms of insurance premiums? I'd be 40ish at that time, so I presume I wouldn't be going back to my teen days of paying €2500, but I guess I wouldn't be getting quotes for €350 either. Anybody done it recently and have a sense of how bad you're hit? Has the insurance industry matured at all since the last thread on this topic to the point where any of them will consider company driving towards your No Claims history when you go private?
Cheers for any thoughts!