Thursday 7th November 2002

Lay Up Insurance

New policy for those that garage their cars over winter

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[cotty]

You could get this sort of cover years ago.

About 15 years ago I had my Austin A30 off the road for some restoration and took out a 12 months policy for fire & theft. It only cost me £12 for the year

OK so it did not include accidental damage but how much risk is there if its in a locked garage. Just dont drop your lawnmower on it and your fine.

[JonRB]

I laid up a car in 1993 for about 10 months in a garage / barn at my parents house. I got fire & theft cover, may even have been fire, theft & accidental damage, for around £15 for the year. The broker even apologised that it was so much but that £15 was the minimum their system would let them charge.

[griff2be]

I don't think you are talking about the same cover at all. As I read it the Flux policy is fully comp for the time you drive it in Summer, with the premium reduced to reflect the lay up period in the winter.

[JonRB]

Yes, good point. This seems to be a hybrid policy that lets you actually drive the car when you want to.

The lay-up policy I had was just that - lay-up only.

[gnomesmith]

I've had the same sort of cover on and off since 1967. Essentially you took out full cover and then, when you took the car off the road told the insurance co who credited you with a proportion of the premium.

When the sun came back out and the salt was washed off the roads a phone call restored full cover.

Saved me a lot of money.

[loaf]

previously...the only option was to cancel the policy..

Load of tosh - my company has had this for years, we call it 'policy suspension'. You continue to pay the full premium (if you pay monthly) and provided a) you renew and b) you haven't claimed in that policy year, you get 50%, 60%, or 75% of the premium for the time on suspension as a rebate off next year's price, depending on the level of layup cover you had.