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  #1   IP: 213.205.194.118
Old 07-08-2017, 05:33 PM
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OllieGunns OllieGunns is offline
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Default Van insurance for business

Hi guys,

After a bit of advice. Finally got round to buying the business a vehicle rather than use my personnel ones and was wondering how best to insure it. I've got a 3yo LWB Transit custom coming and have had quotes around the 500 mark to insure it so not too bad but do I get a policy in my name or the business?

Previously had my own vehicles insured under my name with business miles on the policy but the van will be owned by the business so do I need to do anything different?

Someone needs to make a book on how to run a business in the UK as I've just been stumbling into all kinds of issues the last 2 years, the HMRC are "nice" enough to send you a fine when you get it wrong so you know but others seem a right minefield. I'm the kinda guy who likes to do things right where possible and google has run me a blank on vehicle insurance. One thing I know for sure is I dont need a fleet policy..... yet!

Thanks in advance.
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  #2   IP: 5.81.238.247
Old 07-08-2017, 06:07 PM
hiluxman hiluxman is offline
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Default Re: Van insurance for business

Insure it in your companies name and you will the named driver along with any one else you add or you go for any driver, that depends on your workforce ect.

You will not get to keep any no claims you already have unless you have a personal vehicle to keep them on otherwise you will lose them (they usually say 2 years before they expire but that's down to individual insurers)
You should gain some no claims in the commercial policy and they might mirror your existing no claims to give you a discount, again this is down to the insurer or how good your broker is.

Also check if your commercial insurance covers for using the van for personal use, ie nipping to the shops on the way home.
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Last edited by hiluxman; 07-08-2017 at 06:13 PM.
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  #3   IP: 5.254.163.144
Old 07-08-2017, 07:07 PM
doobin doobin is offline
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Default Re: Van insurance for business

Ollie, you really need to proof read your website mate. Just a heads up.

I've always insured in my own name. Ollie Gunns t/a Gunns Contractors covers all bases, but for insurance I don't think it really matters. Ask your broker!

What spec is the van?
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Old 07-08-2017, 07:24 PM
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JD450A JD450A is offline
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Default Re: Van insurance for business

Rory Sanders t/a R.Sanders Plant Hire International & Interstellar.

Trading As Covers all bases.
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  #5   IP: 5.81.238.247
Old 07-08-2017, 07:44 PM
hiluxman hiluxman is offline
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Default Re: Van insurance for business

Trading as is OK when your not limited as it gives you the option to use a company name. When you are limited you should be using your company name for any business activity. That's the whole point of been an incorporated company.

You can be a limited company t/a whatever though. Ie r sanders plant hire Ltd t/a rorys gimp hire. (Not at you rory I was just using you as a random example, I'll edit if you rather me not)

If I was olly and the van is owned by the company and paid for by the company then it should be insured by the company. It will say the company as the policy holder and him as a driver and whether he's covered for business use or business and personal.
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Last edited by hiluxman; 07-08-2017 at 07:47 PM.
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Old 07-08-2017, 10:24 PM
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JD450A JD450A is offline
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Default Re: Van insurance for business

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Originally Posted by hiluxman View Post
You can be a limited company t/a whatever though. Ie r sanders plant hire Ltd t/a rorys gimp hire.
Look I shared my 5 year financial plan with you in confidence... Now Dan Pissing localdiggers Weston will steal my idea.
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Old 08-08-2017, 06:10 PM
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OllieGunns OllieGunns is offline
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Default Re: Van insurance for business

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Originally Posted by doobin View Post
Ollie, you really need to proof read your website mate. Just a heads up.

What spec is the van?
Cheers guys, I'll go down the company name route then. It's a LWB 290 limited spec so Air con, bluetooth etc even has a 240v plug in the cab, I guess to charge laptops etc. Its done 30k and seems to of been looked after.

Regarding my website, I did make it myself one evening, probably whilst drinking beer so no doubt there's some mistakes. Ill have to run it through a spell checker as having just had a quick glance, nothing stares me in the face so cant of got any cleverer in the last 6 months Cheers for the heads up though, don't want to come across as a fool.
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Old 20-08-2017, 01:39 PM
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OllieGunns OllieGunns is offline
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Default Re: Van insurance for business

Just to update and close this thread out for anyone who also asks this question in the future.

Got the van insured under the company name, not all insurers will do this so took a bit of google and ringing around. Managed to transfer my 7 years no claims to the policy from a previous vehicle but it still cost just short of 850 for 12k miles and two drivers. As usual it seems, as soon as you add the word "business" onto anything it seems to get more expensive....
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Old 26-08-2017, 10:00 AM
jimwilli jimwilli is offline
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Default Re: Van insurance for business

Who did you go with in the end?

I've had problems with this. Filling in web forms I just put that registered owner and keeper is conpany. Some websites ask for company name. Then I always just pay with company bank. No vat on insurance. If hmrc ever ask why policy not in company name I would say it's insuring companies vehicle so does it really matter?

As for insurers and wether they would try to refute a claim it's not our fault their forms are so generic. I did call my lowest quote yesterday to clarify and she was ok that company owned vehicle although I'm not completely sure she understood the question. Just made a note of call in diary with details in unlikely event it's needed.

I think minifleet is easier in case of more vehicles but I currently have tipper sorn as not needed.
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