Insuring a car on a lease scheme

[littleade]

With many going for a private lease deal now, especially on EVs what about the insurance, does it come as part of the lease deal (so after 2 years you loose any NCD you had) or do you need to arrange your own. If so what do you tell the insurance company when asking for a quote, is there a seperate "ownership" catagory for lease cars on the insurance company/comparison website and does it cost more to insure one against owning it either outright or on a PCP?

 

[wessie]

Depends, both options are available

Meerkats have a lease insurance comparison facility https://www.comparethemarket.com/car-insurance/car-insurance-for-lease-cars/ so get a quote for owned v lease using your personal risk profile

If you have had a leased vehicle that includes insurance you will lose NCD after 2 years but as many ex company car drivers fnd, if you get a letter from the lease company then you can get a credit for a good driving record.

 

[RedRick Esq.]

I insure mine as normal having been sure to inform the Ins company that it is leased and I am not the legal owner

Never been an issue and NCB accrues to me

 

[er-minio]

is there a seperate "ownership" catagory for lease cars on the insurance company/comparison website and does it cost more to insure one against owning it either outright or on a PCP?

so after 2 years you loose any NCD you had

Not a private lease, but I used to get cars on lease from work on a one year duration – and included insurance. Again, our scheme was different from doing a private lease, but:
At the time I had similar questions, and it turns out, yes, you can accrue NCB on leased cars – generally the lease company can put this down in writing at the end of the term, if necessary. I never asked them though.

Also: speak with your current insurer, they can "freeze" the NCB for longer than stated sometimes.
Mine was Aviva, I spoke with them after selling my car and going with the company scheme leased vehicles and asking advice in here.
Aviva was happy to keep my NCB frozen for 3 years. This was handy because I ended up buying my second scheme car and put it back on the Aviva policy carrying over my 10+ NCB years.