SORN And Insurance

A substantial number of MX5 owners are SORN’ing their cars presently for winter and COVID reasons. Have you changed your insurance as a result to say Fire and Theft only? Is it worth it, due to the insurance administration charges for change to Fire and Theft only, then back to 3rd Party T & T or fully comp when the car is back on the road?

I asked the question in November about sorned vehicles, it was mainly “was there any further reduction offered” type of enquiry. No was the basic answer, I’m with Admiral.
The last time I did a comparison fully comp v TPFT insurance there was hardly a difference it price wise to warrant the change.

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I have my NA with Admiral on an Agreed Value policy as part of a multicover policy. I said I would do approx 2500 Miles a year in the NA. A lot of insurers this year are offering a small-ish discount if milage is far less than planned due to lock owns etc. If you have done less than younexpected/told them then ask for a discount/refund. Admiral gave £25 earlier in the year. Easy way to show milage is current and expiring MOT which will show what’s been done.

My ND is with DirectLine and they recommended to take a photo of your dash/mileometer and to take another at renewal time and they will consider an adjustment on actual Miles driven vs expected.

Both cars are 2 named driver Fully Comp and, together, cost about £1 a day for insurance.

My NA is SORN from early December to end of March and garaged. My ND lives on the driveway all year.

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I’m considering putting the 5 on SORN from the beginning of February. I’m also seriously thinking about not renewing the insurance too! Car lives in our garage which is integral to the main house, along with other 5’s (separately) over the last 10 years. What could possibly go wrong? :thinking: :crossed_fingers: :roll_eyes:

Barrie

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Only thing I would take into consideration would be validity of NBC as if a gap between expiry and next policy is too great, expiring NCB validity may expire. I don’t know how long the allowance remains so one to ask your insurer about.

Maybe look at blackbox type cover where you pay per mile?

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2 years normally

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Yes,2 years. I spoke with insurers (Lancaster),all they said was they might not be able to guarantee the quote further down the line? Might only be a few months until (A) restrictions ease massively and (B) weather gets better :grinning:

Barrie

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A good reason to get it reinsured now then Barrie :+1:

I did a few comparisons re changing energy supplier pre Christmas, after Christmas those companies had increased their tariffs, I could have had a fixed price tariff. Now it doesn’t seem worth changing for the meagre savings.

Insurance just the same, take it if it seems a good price, at least you’ll have cover too even though off the road.

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Thanks for all your answers guys. Seems to me that it might not be worth the effort for the sake of several months. Cheers.

I can also confirm it’s 2 years. I have two sets of NCD, one is 21 years, the other 16 years. When I only had one car for a while I used them in rotation between policies on one car, this kept both live ready for when I had two vehicles again.

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The insurance companies I have used (I check them out it each forthe best price) all want more more to cancel or change the policy in anyway. So I just take the cheapest comprehensive policy each year and limit my mileage

Well, I’ve decided to SORN the 5 from the end of this month and won’t be renewing the insurance. Apart from anything else, I’ll be saving approximately £55 each month and it will stagger the insurance renewal dates for the two cars as well. Never had a car, ever, that’s been off the road like this one will be. Strange times indeed.

Barrie

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Sounds expensive for the one car Barrie.

Hiya Mick, I didn’t think it was too bad, had I been using the car. Paid monthly for both tax and insurance. Can’t do anything about the VED (other than pay in one go) insurance was £285 for year plus a bit of interest. Fully comp, both me and Mrs B to drive, 5k miles. Only 3 years NCD as I had to start again from classic insurance previously. Anyways, it’s not expensive now! :grinning:

Barrie

Ah… VED as well :+1:

I’ve been deep in thought whilst my NC has been off road, how much can I save, how much have I saved, or not spent over the last few months?
Driving me bonkers really, withdrawal symptoms of not using it. Can’t b**** go anywhere if it was taxed
I’ve been watching a few car related stuff on TV, makes me want to get out in mine it doesn’t help either. Even had thoughts of selling it, wrong time with that too , who’s going to want to drive to view? Anyways Mrs A has put a stop to that thinking :grin:
I was going to pull it out off the garage later, maybe stroke it and put it back, seriously.:grimacing:

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I know how you feel Mick. I reckon, having taken the step to not renew eitherVED or insurance means zero ownership costs at the moment. I can still get the car out onto the forecourt, clean, polish and tinker to my heart’s content,just can’t go anywhere. Oh, hang on a minute, we’re in lockdown aren’t we! Can’t go anywhere anyway! :wink:
Barrie

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Been eyeing up other cars, trouble is the same applies, can’t really go anywhere to look. Plan B, wait and see what happens next, how long that will be???

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That was my thinking Mick and an opportune time (for me at least) to sit back and take stock. We will get back to normal, whatever normal is going to look like, then start enjoying the cars again. :+1:

Barrie

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At least we share the same interests, our teams also lost 0-1 at home last weekend and we have an ex Leeds player as manager too. His scoring record wasn’t too shabby for you either.:+1::smile:

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Jimmy Floyd! Watched him at Elland Road many a weekend Mick! He was a right poacher, just waiting for service usually :smile: happy days! Not sure what Leeds are playing at, at the moment though :thinking:
Can’t lose them all, can we? Can we? :roll_eyes:

Barrie