john_p_b
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 posted on 12/12/05 at 08:50 PM |
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tin top insurance question
renewal time of year again for the other machine in my life my beloved cosworth.
now with it being a bit old and me having no faith in humanity to not try and break it or breath on it in the wrong way and the roads being complete
crap at this time of year basicly it's going to be locked away in the garage for the next 4 months to keep it safe and i'll probably do a
few tweeks here and there. anyway back to the point.
the mot expires end of this month, now there's no way i'll drive it again until april when i'll put another mot on it tax it etc so
if i store it without a mot is my insurance still valid?
i can't see why it would make any difference to fire/theft cover but i think it does state somewhere in the policy that the vehicle is in a
roadworthy condition.
if i renew the insurance but don't put a mot on it just to have it sitting 4 months am i basicly wasting the best part of a grand if some scrote
was to prise it out of the garage?!
built a car, built a home, had a family. lost the family, lost the home, still got the car.
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olv
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| posted on 12/12/05 at 09:56 PM |
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When insurance policies state they mut be in a road worthy condition that doesn't mean that they must have an MOT, just that they are not a
complete shed.
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Mark Allanson
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| posted on 12/12/05 at 10:02 PM |
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I did hear of one payout which was £9971.50 instead of £10k because the car was being stored and had run out of mot. Insurance companies can be the
most miserable small minded group, and I say this as one who until 48 hours ago was part of the gravy train.
If you can keep you head, whilst all others around you are losing theirs, you are not fully aware of the situation
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wilkingj
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| posted on 12/12/05 at 10:49 PM |
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I would SORN it, and take out / convert to a LAID UP policy. Or Keep the existing policy... but as its not on the road, the policy should be cheaper,
as there is less risk ie not on the road.
Keep up the Fire and Theft as a bare minimum.
Be open and honest with the Ins Co... and CONFIRM / put it in WRITING and get their written agreement, and KEEP all COPIES of the letters. (This is
important should there be a claim) Tell them its SORN'd / no Mot.. being rebuilt to whatever the situation is.
Sorry for the CAPS... its on purpose.
Most classic policy companies should be able to do this.
Tell then you are rebuilding over the winter, (if you are). ie the enging could be out and get stolen... you made it easier to steal by taking it out,
thus a lower payout as you "helped make it easier" etc etc.
Make sure you are properly covered.
The above is what I would do... you will have to decide on what cover you will / may need, and consult your insurance specialist for advice relating
to your particular circumstances.
1. The point of a journey is not to arrive.
2. Never take life seriously. Nobody gets out alive anyway.
Best Regards
Geoff
http://www.v8viento.co.uk
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Chippy
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| posted on 13/12/05 at 12:15 AM |
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Agree with Geof totaly. I have always found that the best way is to deal direct with the insurance company, tell them exactly what you intend to do,
and usualy they are very accomodating.
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john_p_b
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| posted on 13/12/05 at 06:18 PM |
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well decided this afternoon to call and find out once and for all.
i do need a mot for the insurance to be valid so looks like i'm gonna have to do the wheel bearing sooner than i thought! (according to invoices
i have this'll make it 3 times in under 5000 miles it's been changed!)
due to my age i can't cover it on a classic policy so can't get any kind of lay up cover on it. 
managed to get about £100 off the total though by reducing the miles a year to just 1000 so it's now only £732 a year to have it sit in the
garage!!!
built a car, built a home, had a family. lost the family, lost the home, still got the car.
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