Motorcycle insurance for a company (ltd) owned bike

[Sito]

Hi, I'm new to the forum. Planning to purchase bike through the Ltd company too. The information on that thread are very helpful.
The address on the V5/registration - should be Company's address or mine (registered keeper's one? Anyone could clarify this for me? Thanks. Jacek

 

[gabriel_gs]

Hi, I'm new to the forum. Planning to purchase bike through the Ltd company too. The information on that thread are very helpful.
The address on the V5/registration - should be Company's address or mine (registered keeper's one? Anyone could clarify this for me? Thanks. Jacek

It needs to be the company’s name and address.

This was confirmed by LOTS of googling and my accountants too.

 

[Sito]

It needs to be the company’s name and address.

This was confirmed by LOTS of googling and my accountants too.

Thank you gabriel_gs

 

[gabriel_gs]

No worries

 

[Wapping]

Is there a question about insurance for the vehicle?

Or is it all about having the correct name and address on a V5?

 

[gabriel_gs]

Both

 

[Wapping]

Both

What’s your insurance question, Jacek?

 

[gabriel_gs]

Maybe I’ve not woken up properly…

I answered his question I think?

 

[Wapping]

Jacek’s question seemed to be only about the name and address to put on the V5 for a company owned vehicle. I can’t see anything asking about insurance for the vehicle. This left me wondering if there was a second or supplemental question coming?

 

[Moto Bikemad]

No phone calls from the lovely Rachel yet?

 

[Sito]

Jacek’s question seemed to be only about the name and address to put on the V5 for a company owned vehicle. I can’t see anything asking about insurance for the vehicle. This left me wondering if there was a second or supplemental question coming?

My understanding is that the V5 registration address and insurance are two separate things. I couldn't find insurer bike where owner and registered keeper is Ltd. The only option I've been offered is that the bike is owned by company and I am the registered keeper. And my dilemma is which address (home or company's) to put on the V5 to make both HMRC and insurance company happy.

 

[Wapping]

My understanding is that the V5 registration address and insurance are two separate things.

Indeed they are completely separate.

The V5 is the responsibility of the government’s DVLA department.

The insurance of the vehicle is the responsibility of an insurance company. The only government interest in the insurance is that the vehicle must be insured to go on the road.

 

[wheelnut]

Haven’t trawled through the thread but Cornmarket insure mine and were perfectly happy for the bike to be owned by the company and registered in the company’s name with the proviso that I was one of the directors.

 

[Sito]

Haven’t trawled through the thread but Cornmarket insure mine and were perfectly happy for the bike to be owned by the company and registered in the company’s name with the proviso that I was one of the directors.

Thanks , I'll try them tomorrow

 

[Sito]

An update. I called Cornmarket, Adrian Flux, Bennetts... they all won't insure bike owned by the Ltd. Seems like a massive problem.

 

[Wapping]

What reason(s) are they giving for the refusal?

 

[Sito]

One of them said that probably because I have 0 NCD on my motorcycle , as I didn't ride for a while. The other said that probably because the owner and registered keeper is Ltd... I think I will try : owner - Ltd, registered keeper - me. Devitt already accepted it just few minutes ago. I just don't want to step on the "legal mine" , and have policy invalidated when convenient for the insurance company.

 

[Wapping]

All sorted - Principle Insurance (0330 024 0087)

They found me an underwriter to accept the bike being owned/registered to my limited company on a personal business use policy

£494 fully comp

Happy with that!

Sito, I assume you tried Principle Insurance, as recommended in this post?

 

[Wapping]

One of them said that probably because I have 0 NCD on my motorcycle , as I didn't ride for a while.

That, depending on the make / model and value of the bike and / or where you live might well be a problem, quite separate to whether it is owned by a company or you.

Just out of interest, why are you going down the route of having the vehicle owned by a company?

 

[Sito]

Sito, I assume you tried Principle Insurance, as recommended in this post?

Yes, I've tried them