taking a car off the road

foxy06

Im looking for advice on taking my car off the road. Tax is just up and is insured until feb. Just can't afford it at the moment so was thinking of leaving it in the driveway until November when I will probably start using it again. How does this work? Can I ask the insurance company to freeze the policy for a few months? I know there are new rules now with the tax so if I take it off the road and start using it again in November will I have to pay all the back tax?

foxy06

Bump

djimi

Declare it off the road for tax and talk to your insurance company about postponing cover. You will most likely want some level of cover on it though if it is parked on a driveway, so perhaps cancelling the policy and putting the rebate towards a third party fire and theft policy might be a wiser choice?

CiniO

djimi wrote: »

Declare it off the road for tax and talk to your insurance company about postponing cover. You will most likely want some level of cover on it though if it is parked on a driveway, so perhaps cancelling the policy and putting the rebate towards a third party fire and theft policy might be a wiser choice?

I'd say most insurers will allow to suspend a policy and leave fire and theft cover only...

Aviva does that for my wife every year, and they charge 15% premium for suspension period.

Example.
Car insurance cost 600 per year. (so it comes as 50 per month)
If I suspend my cover for 4 months, leaving fire and theft cover, then for 4 months instead of paying 200euro I will be due only 30 euro.

Obviously policy must be paid as normal, and when suspension is finished and policy is reimbursed, I'll get 170 euro refund.

djimi

Ah fair enough, I didnt realise that there is an option to pay a premium for f&t cover while the policy is suspended.

colm_mcm

There's a sticky on the new motor tax laws, just read the first few posts and you'll see how it works