Sorn/Laid up car insurance
Discussion
I am in the position of selling my car whilst retaining my 'work' van - self employed/ltd co. I will continue to drive my girlfriend's car - named driver - as required.
In approx five years I plan to retire, sell the van and buy a car again. To maintain my NCB during this period I think I may buy the cheapest car I can find and park it in the garage with SORN/laid up insurance. I have spoken with a broker who confirms that I will maintain my NCB by doing this.
My question what do I have to retain to constitute a 'car'? Would just a VIN plate suffice? If so I would sell the remainder to a scrap dealer as 'parts' and not have the inconvenience of storing a car for five years. Then I would 'scrap' the car/VIN plate.
If this is possible my 19 year old nephew might do the same to build up his 'no claims' cost effectively. He has passed his test but never owned a car. He is in an unusual position of not having/needing to drive for the next 6 plus years by which time he could have accrued a decent NCB before potentially purchasing comprehensive insurance for the first time.
In approx five years I plan to retire, sell the van and buy a car again. To maintain my NCB during this period I think I may buy the cheapest car I can find and park it in the garage with SORN/laid up insurance. I have spoken with a broker who confirms that I will maintain my NCB by doing this.
My question what do I have to retain to constitute a 'car'? Would just a VIN plate suffice? If so I would sell the remainder to a scrap dealer as 'parts' and not have the inconvenience of storing a car for five years. Then I would 'scrap' the car/VIN plate.
If this is possible my 19 year old nephew might do the same to build up his 'no claims' cost effectively. He has passed his test but never owned a car. He is in an unusual position of not having/needing to drive for the next 6 plus years by which time he could have accrued a decent NCB before potentially purchasing comprehensive insurance for the first time.
Refurber said:
I am in the position of selling my car whilst retaining my 'work' van - self employed/ltd co. I will continue to drive my girlfriend's car - named driver - as required.
In approx five years I plan to retire, sell the van and buy a car again. To maintain my NCB during this period I think I may buy the cheapest car I can find and park it in the garage with SORN/laid up insurance. I have spoken with a broker who confirms that I will maintain my NCB by doing this.
My question what do I have to retain to constitute a 'car'? Would just a VIN plate suffice? If so I would sell the remainder to a scrap dealer as 'parts' and not have the inconvenience of storing a car for five years. Then I would 'scrap' the car/VIN plate.
If this is possible my 19 year old nephew might do the same to build up his 'no claims' cost effectively. He has passed his test but never owned a car. He is in an unusual position of not having/needing to drive for the next 6 plus years by which time he could have accrued a decent NCB before potentially purchasing comprehensive insurance for the first time.
This week's 'Saturday night special'. In approx five years I plan to retire, sell the van and buy a car again. To maintain my NCB during this period I think I may buy the cheapest car I can find and park it in the garage with SORN/laid up insurance. I have spoken with a broker who confirms that I will maintain my NCB by doing this.
My question what do I have to retain to constitute a 'car'? Would just a VIN plate suffice? If so I would sell the remainder to a scrap dealer as 'parts' and not have the inconvenience of storing a car for five years. Then I would 'scrap' the car/VIN plate.
If this is possible my 19 year old nephew might do the same to build up his 'no claims' cost effectively. He has passed his test but never owned a car. He is in an unusual position of not having/needing to drive for the next 6 plus years by which time he could have accrued a decent NCB before potentially purchasing comprehensive insurance for the first time.
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