Can I get new license plates with my auto insurance?

In the United Kingdom, it is well-known that you must factor in the cost of your insurance when purchasing a vehicle, as this can be a significant additional expense. The sort of vehicle you drive, how long you’ve been driving, and even your geographic location can all affect the cost of your insurance. Was it ever brought to your attention that having a private number plate can have an impact on the cost of your auto insurance as well?

It is important to notify both the DVLA and your insurance provider that the plate has been issued to your car after it has been purchased in obtaining a private number plate. If the wrong number plate is displayed on your vehicle in the case of an accident or theft, your insurance may be worthless.

new license plates

When it comes to insurance, can private license plates help you save money?

Having a private number plate is not a “vehicle modification,”. So most insurance companies will not charge you more for having one. However, like with most things, it’s a good idea to double-check everything just in case. To determine what your insurance policy does not cover, you should contact your insurance provider. Otherwise, your coverage may be void, and you may be subject to one of the following outcomes:

  • A fixed fine of £100.
  • Be subjected to a maximum fine of £1000 and possible judicial prosecution.
  • Your vehicle may be impounded or destroyed.

All of these things can add up to a significant amount of money. So calling your insurance company when you install your new plate get will save you a penny or two. It will save your money in the long run by ensuring you don’t have to pay these avoidable expenses.

Inquiring about a ‘letter of no interest’ from your insurer

If your private number plate contains a significant degree of sentimental or monetary worth, you must request a letter of no interest from your insurance. This is formal confirmation from your insurer that they have no interest in the license plates. And that if someone steals your car, they will return your number plate to you.

Even if you don’t get one, if your car is stolen, the insurance provider may pay you a flat sum of money. Only implying that they will become the legal owner of the vehicle and everything it contains. They may offer to sell the plate back to you, but they are under no obligation to do so. If your plate is worth anything, they will most likely keep it in order to profit from it.

If you plan to sell your license plate for a profit in the future, you must get one of these authorisation letters. Alternatively, the insurance company will take the plate because they know it is worth something.

What impact does your license plates have on your insurance?

Before you sign anything, check with your insurance provider to ensure there aren’t any discrepancies in coverage. The addition of a private number plate to your vehicle should not affect your insurance.

Aside from your driving record, there are various additional factors that influence your insurance rates. For example the sort of car you drive and how frequently you use it. To avoid additional fines, you must notify your insurance company of any changes to your license plate.