You’ll hear us talking about Statutory Off Road Notice (SORN) a lot this month and this is because declaring your vehicle off road is most popular during the winter. However, it’s not just for winter – SORN’ing a vehicle can be beneficial all year around. Footman James prides itself with having over 35 years’ experience in the classic and collector vehicle insurance space, creating insurance packages for motorists in need, including when a vehicle is declared off the road.
That’s why laid-up insurance is a no-brainer for enthusiasts wanting to SORN their vehicle Whether you’re thinking of tinkering with your vehicle or having it in long-term restoration, laid-up insurance can give you extra cover if the worst happens.
While many decide to take their vehicle off the road when the salt gritters come out to play, most don’t know about the value of laid-up insurance and its benefits.
Typically, motorists save money when swapping to laid-up insurance policies. The main reason is that, from an insurance company’s point of view, the risk is decreased because you’re not using the vehicle on the road. Thus, they don’t need to charge you as much. More money in the vehicle tinkering fund, then.
A laid up policy provides peace of mind. Footman James's Restoration, Storage & Transit policy protects a vehicle while it’s off the road, if kept in a locked garage, against: accidental or malicious damage (including vandalism), fire, lightning and explosions, theft or attempted theft.
You might want to trailer your vehicle to and from exhibits or competitions, maybe you want to take your competition vehicle to be race-prepared or to a body shop. Wherever you’re going to have work done to your vehicle and whatever you’re having done, it’s covered outside when transporting it by road or sea.
If the worst does happen, you have first refusal for salvage retention. There’s the vehicle’s emotional value as well as its monetary value, and that’s why Footman James offers salvage retention as standard. Not only that but a perk for classic car owners is that your tools are covered to the value of £250 should they be lost or stolen while in your car.
With optional FJ+ options, your spare parts and vehicle accessories that you lock in your garage will be covered. If you take your spare parts away from the garage then there’s also protection. Values are agreed from £2,000 - £10,000 for spare parts in your garage and £2,000 if they’re transported away from home temporarily.
No more worry that you won’t get what the vehicle’s worth back if the worst happens. With FJ+ you have access to Agreed Value. This means that you can increase the value of your vehicle twice in a policy year without an admin fee. So, if you have a total loss, your laid-up insurance policy will pay out what you have already agreed, regardless of the market value. This can come in really useful if you're undergoing a lengthy restoration project, especially when it comes to adding expensive new parts to your vehicle.
It may give you the much-needed push to get your barn find back into concours condition, but however long you need to keep your car off the road, cover is available. When you’re ready to switch, you can swap your policy to one that’s better suited to driving your vehicle on the road or track.
While it’s legal to not have insurance cover for your vehicle if it’s SORN’d as long as you are complying with the wider SORN rules, can you afford for a total loss on your vehicle and spare parts should the worse happen?
If you're preparing your classic car for winter, you may also be interested in our blog post How To Prevent Salt Damage To Your Classic Car.