Hi

I want to take my BMW off the road & keep it unused in my garage for a year. It currently has normal insurance. Any hints or tips about laid-up insurance pls? Can I do Fire & Theft, is there anything I should watch out for?

 

If the house is connected to the garage is there any chance that it would/could be covered by the house insurance?

Why lay it up for a year? would it not make economical sense to sell it and buy another a year later?

 

Thanks for your reply. Yes, the garage is part of the house.

Long story - selling the car (BMW-not Scoob) due to divorce, ex won't pay to run the car, so I won't sell it until I have a court judgement & can deduct my selling expenses.
The car is very rare (333i Turbo) & will be hard to sell until I find the right person.

 

It all depends who you are insured with, and what tends to happen is you continue paying the premium and get a credit back at the end of the policy period. It would therfore be advisable to reduce the cover from Comp - to Third Party Fire & Theft (TPF&T) - and then to Laid Up Fire & Theft.

One other thing to consider is your No Claims Discount (NCD) - are you going to want to use that on another car??...if so then your BMW will be processed Gross with no NCD??!!...might be expensive - thus probably best to have both cars (if you are getting a 2nd) on the same policy - or with the same company.

 

Just one other thing - what age is the car - cos you might be able to put it onto a classic policy which normally cater for Laid Up Fire & Theft covers???...

If you want to discuss further mail me...tom@schofieldinsurance.co.uk

Cheers

Rum

 

Rum

I've replied via email.

 

Sorry I couldn't help M8.

Cheers

Rum