Taking 2nd Insurance on Company Car?

LawAbiding

Ok, this is a blue sky thinking idea.
My wife has got a new job as a Support Worker in the Community, working Part Time.
As she is working Part Time, she it staying under the Personal Allowance, meaning no Tax. The Company will not pay any travel expenses at all, and state claim it back in tax relief. No tax relief to claim back, when she doesn't pay tax!

The car she is using, we estimated it will cost her around £10 per shift.
My company car is a Tesla, and a full charge at home costs approx £6.50 and would last her 5 shifts. Bringing the cost down to £1.30 per shift.

My Company Insurance states that the Tesla can only be used for Business related to the Name Company, i.e. my line of work. She is insured, but according to that Social and Domestics reasons only.

So here's the random question, would it be possible to take our own insurance out on the Tesla with her Business cover? (not thought about the actual cost of the insurance, just yet)

Sandtree

Are your calculations of cost based only of fuel consumption or are you considering the wider costs from the mileage? I assume you are just an employee with the company and not a significant shareholder?

It is possible to have two policies on a vehicle but they typically dont play nicely with each other... think about claims where neither of you are driving at the time... which policy responds to a fire or if someone steals the car and hits a line of pedestrians etc.

For people wanting to get into part time courier work there are secondary policies you can get which sit on top of the normal car insurance and only apply when your doing the courier work. The policy doesnt apply at any other time so no conflicts between the policies. If you google there may be similar options for business use.

Will she be giving up her own car? If not she'll have to start with 0 NCD on this new policy on your Tesla and therefore it could be fairly pricey! 

LawAbiding

Sandtree said:

Are your calculations of cost based only of fuel consumption or are you considering the wider costs from the mileage? I assume you are just an employee with the company and not a significant shareholder?

It is possible to have two policies on a vehicle but they typically dont play nicely with each other... think about claims where neither of you are driving at the time... which policy responds to a fire or if someone steals the car and hits a line of pedestrians etc.

For people wanting to get into part time courier work there are secondary policies you can get which sit on top of the normal car insurance and only apply when your doing the courier work. The policy doesnt apply at any other time so no conflicts between the policies. If you google there may be similar options for business use.

Will she be giving up her own car? If not she'll have to start with 0 NCD on this new policy on your Tesla and therefore it could be fairly pricey! 

Thanks for the quick reply. The calculations of costs is purely on fuel, no wider costs on wear and tear are being considered. Its a 2007 4x4, which we bought as a 7 seater, when I got the Telsa which is a 5 seater. There was no plans to use it apart from school runs etc.

I see your point on having 2 insurances and conflicting nature of this.

I will look into the Courier work insurance, does interesting. She would be covered outside of this via the company insurance, social and domestic, and then covered for business under the courier...

No plans to give up existing car, so you right, 0 NCD< and I just got a quote for her and business and its 2k!

Grumpy_chap

LawAbiding said:

My Company Insurance states that the Tesla can only be used for Business related to the Name Company, i.e. my line of work. She is insured, but according to that Social and Domestics reasons only.

Irrespective of the insurance position, your company probably state insurance use only for their business for precisely this type of situation so, even if you insured the car for your wife to use on business, your employer would likely still say it is against their policy and not agree.

rudekid48

When you say company car, is it given to you by your employer or did you purchase/lease it yourself from a car allowance paid by your employer?  If it is the first then I think you are going to hit a brick wall as it is not actually your vehicle but owned/leased by your employer and as such you would have to get their permission to do what you are planning.  Irrespective, Sandtree is quite correct in that dual insurance can be a nightmare when it comes to claiming. 

LawAbiding

rudekid48 said:

When you say company car, is it given to you by your employer or did you purchase/lease it yourself from a car allowance paid by your employer?  If it is the first then I think you are going to hit a brick wall as it is not actually your vehicle but owned/leased by your employer and as such you would have to get their permission to do what you are planning.  Irrespective, Sandtree is quite correct in that dual insurance can be a nightmare when it comes to claiming. 

Yep idea scrapped, its a company car provided by the company.