Car registration: How to prevent number plate theft
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Kevin Pratt, car insurance expert at Forbes Advisor said drivers were likely to be charged a “transfer fee” for switching the vehicle named on their policy. Premium rates were also likely to be adjusted to “reflect” the cost of the new vehicle.
Vehicles with new 22’ number plates must have been registered from March, meaning the vehicles are completely brand new.
These are likely to cost more than second-hand vehicles which could see a surge in insurance charges and running costs.
Mr Pratt said: “If you’re changing car in March, perhaps to acquire the new ’22’ registration plate, it’s important to consider the insurance aspects.
“Your options are to transfer your existing policy to the new vehicle or to cancel the existing contract and start afresh with a new policy.
“If you transfer, you’ll need to give your insurer plenty of warning.
“They’ll charge you a transfer fee, which could range from £25 to £50, and also adjust your premium to reflect the make, model and cost of the new vehicle.
“If you decide to cancel your existing policy and take out a new one, there’ll be a cancellation charge to find – again, typically up to £50.
“But you will also jeopardise your no claims bonus for the year, so this needs to be taken into account.”
DON’T MISS
Privacy fears as digital number plates set to launch in the UK [INSIGHT]
Drivers can save £5,000 on cars ahead of March number plate rules [ANALYSIS]
Number plate changes could see drivers delay orders [COMMENT]
Mr Pratt warned it is “vital” drivers are insured at all times.
He warned motorists must not get carried away when buying a new vehicle and forget to put cover in place straight away.
He warned drivers could be forced to “pay a ton of money” for forgetting as they would not be recovered on an agreement and would need to pay for any damage incurred.
Meanwhile, motorists could be hit with massive penalties for failing to have the correct insurance.
Save 10% on your MOT
It’s Kwik Fits’ Midsommer Madness sale and you can take 10% off your MOT Test with the UK’s #1 MOT tester – just click the link to book online.
Source: Read Full Article