Worth SORNing - how to utilise insurance NCB best
Discussion
Hi all
I've got a manual sports car that I'm struggling to sell for a reasonable amount at the moment and I'm convinced (I could be wrong!) it will sell for more come spring / summer.
Can't really wait around though as hurt my leg and need an auto ASAP. I could afford to buy a cheap one and garage the sports car for a few months but need to work out the best way to do it insurance wise.
If I leave the insurance as-is then I'll have to insure a second car and won't be able to use the NBC (although I know some companies do kind of "share" the discount if you insure a second car with them, will need to check with my insurer) so that could be expensive.
I've read that I could SORN the sports car (which would also save on road tax) and then get "laid up" insurance but heard this isn't that cheap anyway?
Perhaps an alternative is to switch my insurance and NCB to the replacement auto and try and get the insurers to share some discount and insure the sports car as fire & theft only?
Two pros to doing this way:
1) I / missus can still drive it once or twice a month to keep it healthy
2) If we do get a interest from a buyer at a reasonable value they will be able to test drive it
Thoughts / advise please?
Thanks
Rx
I've got a manual sports car that I'm struggling to sell for a reasonable amount at the moment and I'm convinced (I could be wrong!) it will sell for more come spring / summer.
Can't really wait around though as hurt my leg and need an auto ASAP. I could afford to buy a cheap one and garage the sports car for a few months but need to work out the best way to do it insurance wise.
If I leave the insurance as-is then I'll have to insure a second car and won't be able to use the NBC (although I know some companies do kind of "share" the discount if you insure a second car with them, will need to check with my insurer) so that could be expensive.
I've read that I could SORN the sports car (which would also save on road tax) and then get "laid up" insurance but heard this isn't that cheap anyway?
Perhaps an alternative is to switch my insurance and NCB to the replacement auto and try and get the insurers to share some discount and insure the sports car as fire & theft only?
Two pros to doing this way:
1) I / missus can still drive it once or twice a month to keep it healthy
2) If we do get a interest from a buyer at a reasonable value they will be able to test drive it
Thoughts / advise please?
Thanks
Rx
How about as you say, switch the insurance to your new car, but take out a new policy on the sports car with a mileage limitation which will keep the cost down. The insurer may allow an element of NCB mirroring if you ask, particularly if its the same insurer. You will get a portion back on cancellation when you've sold the car, less charges etc.
Obviously make sure any test drives are either with you driving, or with fully comp temporary insurance taken out by the buyer.
SORNing short-term can be a pain due to requirement to pay for the full month when you re-tax it. Typically your buyer would want a test drive toward the end of the month...
Obviously make sure any test drives are either with you driving, or with fully comp temporary insurance taken out by the buyer.
SORNing short-term can be a pain due to requirement to pay for the full month when you re-tax it. Typically your buyer would want a test drive toward the end of the month...
How old are you? You’d be amazed how little benefit NCB can be as you get older.
You can always leave the car you’re selling uninsured off road if you want and insure the new cheaper auto that you buy using the NCD. That’s a big risk to take IMO. Equally, as you say quite a few insurers / brokers will mirror your NCD. Be aware that they sometimes start with a higher premium and even with the NCD mirrored it can work out more expensive than a policy with 0 NCD.
You can always leave the car you’re selling uninsured off road if you want and insure the new cheaper auto that you buy using the NCD. That’s a big risk to take IMO. Equally, as you say quite a few insurers / brokers will mirror your NCD. Be aware that they sometimes start with a higher premium and even with the NCD mirrored it can work out more expensive than a policy with 0 NCD.
You just have to get quotes every which way, because the best option seems to be different for different people.
There is some value in having the sports car taxed and insured when it comes to selling it.
There may be some cost in changing vehicle on your existing policy.
A different insurer may be cheaper for the new vehicle.
There is some value in having the sports car taxed and insured when it comes to selling it.
There may be some cost in changing vehicle on your existing policy.
A different insurer may be cheaper for the new vehicle.
Sorn it - why not? I sorn my R8 from Nov till March - saves a bloody fortune. Does not affect insurance. I odn't drive it suring the salty months.
Take out a seperate policy, as said, at your age you'll be amazed how much difference zero NCB on a second car makes if you shop around - phone them up.
Take out a seperate policy, as said, at your age you'll be amazed how much difference zero NCB on a second car makes if you shop around - phone them up.
Griffith4ever said:
Sorn it - why not? I sorn my R8 from Nov till March - saves a bloody fortune. Does not affect insurance. I odn't drive it suring the salty months.
Take out a seperate policy, as said, at your age you'll be amazed how much difference zero NCB on a second car makes if you shop around - phone them up.
Thanks - hoping it will sell in a few months anyway so don't think SORN will save me a massive amount tax wise and makes test drives etc a pain. Will defo ring around though for quotes, cheersTake out a seperate policy, as said, at your age you'll be amazed how much difference zero NCB on a second car makes if you shop around - phone them up.
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