Limited company ownership and insurance

Discussion in 'Motorhome Insurance General Discussion' started by Knapscon, Jun 23, 2013.

  1. Knapscon

    Knapscon Read Only Funster

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    Hi. I want to get insurance for a motorhome but it is legally owned by my limited company and I can't get anyone to insure it. Can anyone help or have experience of doing this.
     
  2. dave newell lvs

    dave newell lvs Trader-Vehicle Services

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    We need a lot more info to give any meaningful advice. for example what is the main business of your company? Is the motorhome used solely in the course of the business or is there some personal usage? Why is the motorhome owned by your company and not yourself personally? All of these points and probably a lot more will have a bearing on insurance.

    D.
     
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  3. camocam1

    camocam1 Read Only Funster

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    should not be a problem as I have 2 cars and (had) the MH insured via the Co as part of the fleet insurance with AXA BUT I took the MH off as "its insured for business use" AXA for MH £750 fully Comp (classed as commercial LGV" Comfort exact same insurance but with breakdown cover £275 so I saw NO benefit in having it insured via the Co. I have to say the cars are the opposite.
    So I suppose it all depends on WHY you want it insured via the Ltd Co
     
  4. Knapscon

    Knapscon Read Only Funster

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    Hi. I am using the limited company to fund the purchase, so legally the mh would be owned by the co. we would then use it for staying away in when on business and also personally. Hope this makes sense.
     
  5. Chris

    Chris Funster Life Member

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    It might be easier to declare yourself a dividend and then buy the van in your own name. You could always charge the company a "rental" if it is used for company business.
     
  6. Barclaybasher

    Barclaybasher Funster

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    The problem with insuring the MH may not be just ownership but 'business use'.

    You might gain some tax or VAT advantage by trying to say that the MH has a business use - then again the tax and VAT may not agree - and they will have the final say on that.

    Using the MH for business may complicate matters when you come to sell it - or put buyers off.



     
  7. TheDogMan

    TheDogMan Funster

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    I wonder why you would buy a new 50k MH through a Ltd company ??, could be that you could reclaim £8334 in VAT plus charge the company all the running costs and depreciate it through the accounts............... you may be called upon at some time to justify this to the revenue though.
     
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