I thought I would share my experience with regards to insuring the car in the UK which was purchased by my limited company just in case it helps someone else or if anyone has any comments or advice if what I have done doesn't seem legitimate.
I purchased my Polestar 2 through my Ltd company of which I am the sole director, I am sure I was told by Polestar that I would be the registered keeper (not the Ltd company) and as such insured the car in my name but paid for the insurance with the Ltd companies bank card with Churchhill as the Ltd company would be the owner.
I thought everything was okay until today I received the V5C logbook and found that it was the company down as the registered keeper rather than me personally (the address is the same for both so that part is okay).
I called Churchhill to check if this was a problem and they said that they couldn't insure the car like this because I needed to be the registered keeper (not the Ltd company) and that I would need to change the V5C document to be in my name. I even went through their website quote system to see if it would let me do it (i.e. add a company as the registered keeper) that way but no joy, I also tried Direct Line (as I had read others had done it with them) both online and the phone to see if they would insure the car where the company was the registered keeper but they would not.
Panicking realising that effectively I have been driving the car for a couple of days technically without insurance I was trying to see what I could do, DVLA said to amend the V5C document as a correction rather than a change of registered keeper (i.e. the document showing more than one former keepers) I would need to send it back and get a cover letter from Polestar admitting their mistake (I am waiting to hear back from Polestar as to whether they will be willing to do that but I don't think it is likely and based on the below it is hopefully not necessary), also this process could take 6 weeks or so and I of course can't have the car effectively uninsured for that amount of time.
I did a quote with LV and it looked like they would allow me to insure with a company being the registered keeper but it was around £1200 for the year. Finally I got a quote from Admiral that let you put a company as the registered keeper including the name of the company but the insurance policy is in my name, this came out to around £500 and I have since cancelled the policy with Churchill so hopefully all is good.
Not sure if anyone else has had similar experiences or believe the way I have done this is not correct. Just to clarify, the car is owned and the registered keeper is my Ltd company, it is a company car for personal use (i.e. not a pool car or for only business use), the full cost of the car and the car insurance will be getting claimed as a company expense.
I purchased my Polestar 2 through my Ltd company of which I am the sole director, I am sure I was told by Polestar that I would be the registered keeper (not the Ltd company) and as such insured the car in my name but paid for the insurance with the Ltd companies bank card with Churchhill as the Ltd company would be the owner.
I thought everything was okay until today I received the V5C logbook and found that it was the company down as the registered keeper rather than me personally (the address is the same for both so that part is okay).
I called Churchhill to check if this was a problem and they said that they couldn't insure the car like this because I needed to be the registered keeper (not the Ltd company) and that I would need to change the V5C document to be in my name. I even went through their website quote system to see if it would let me do it (i.e. add a company as the registered keeper) that way but no joy, I also tried Direct Line (as I had read others had done it with them) both online and the phone to see if they would insure the car where the company was the registered keeper but they would not.
Panicking realising that effectively I have been driving the car for a couple of days technically without insurance I was trying to see what I could do, DVLA said to amend the V5C document as a correction rather than a change of registered keeper (i.e. the document showing more than one former keepers) I would need to send it back and get a cover letter from Polestar admitting their mistake (I am waiting to hear back from Polestar as to whether they will be willing to do that but I don't think it is likely and based on the below it is hopefully not necessary), also this process could take 6 weeks or so and I of course can't have the car effectively uninsured for that amount of time.
I did a quote with LV and it looked like they would allow me to insure with a company being the registered keeper but it was around £1200 for the year. Finally I got a quote from Admiral that let you put a company as the registered keeper including the name of the company but the insurance policy is in my name, this came out to around £500 and I have since cancelled the policy with Churchill so hopefully all is good.
Not sure if anyone else has had similar experiences or believe the way I have done this is not correct. Just to clarify, the car is owned and the registered keeper is my Ltd company, it is a company car for personal use (i.e. not a pool car or for only business use), the full cost of the car and the car insurance will be getting claimed as a company expense.
