Car Insurance after company car

M

mobileme

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I am changing jobs in a month, and will be switching from company car to a car allowance. Have yet to decide what I will buy but insurance will be a big consideration. It has been mentioned that some companies may give me some no claims bonus for the two years on the company's policy. I am 26yr old female. Any advice or recommendations?
 
Shop around now for quotes. Make sure you get a letter from your old employer stating that you had a company car allocated to you (not a 'pool' car available to you) for the given period and you had (hopefully) no claims made against you.
 
Can you possibly explain how the "car allowance" scheme actually works in practice ?
As i have been offered a company car i dont want or a car allowance ?

Thanks,
 
company car = you pay a big chunk of tax to park someone elses shiny car in your drive

mileage allowance = you get paid tax free money for every business mile you drive in your own car.

car allowance = you get paid a set amount every month. im not sure about the tax position.

if you do a reasonable amount of business miles, you are probably best off with the mileage allowance.
 
Is mileage allowance really tax free? thats good to know!
 
soccy Benefit in kind tax on a company car can be a killer if your mileage is not high enough. Tax on car allowance can vary as far as I know but companies will have to explain terms of individual schemes as sometimes they are revenue approved for no tax.

I am happy to be switching but just looking for any advice on this from someone who has done it re: best companies to look for insurance from etc.
 
You will need to get a letter from your previous employer stating that you had sole and exclusive use of a company car for the duration of your employment and that there were no claims made against you.

Eagle Star gave me credit for my years of blemish-free company car driving when I switched over to a private car.
 
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