Data provided via the DVLA shows that the number of vehicles declared SORN has risen from 1,201,340 in the third quarter of 2008 to 5,134,244 in the third quarter of 2018 – the highest number of off-road applications for UK cars since data began in 2008.
While many of these cars declared SORN will be modern vehicles, a large percentage will almost certainly be classic s. There are several reasons why an owner may take their classic car off the road, from undertaking a complete nut and bolt restoration to even displaying a car in a museum.
While not paying tax or insurance may save classic owners money, specialist insurance company Footman James is warning of the risks of not insuring classic vehicles if they are declared off the road. In response, a growing number of drivers are opting for off-road insurance (also known as laid up insurance). It’s not a legal requirement, but this type of policy protects their cars from fire, theft and damage because they can’t afford to replace the car should the worst happen. These policies are also often cheaper than a standard policy.
For further information visit www.footmanjames.co.uk.