[vc_row][vc_column][vc_column_text]Do number plates affect insurance rates? If they don’t, what does? We will cover what you need to know in this article, so come and find out.
Without car insurance, you could find yourself in a lot of trouble in very little time. While it’s mandatory to have, there are options available for everyone at different prices, but these prices depend on a lot of things. If you are a number plate lover, you might be wondering – do number plates affect insurance rates?
The answer isn’t as clear-cut as you might hope, and there’s some wiggle room. If you want to find out what the deal is, then just keep reading, because we will cover everything you need to know in this blog.
For more information on number plates, check out our articles on standard 2D plates, how to find the perfect private plate, or the 10 most expensive private plates ever sold in the UK.
Car insurance is critical because it provides financial protection if you ever find yourself in an accident. Not only that, but there are also cover types that will cover injuries to other individuals, so this can be something to consider when you get insurance.
In the UK, it’s a legal requirement for all roadworthy cars to have a basic level of cover at minimum, even if it is not being driven. If you don’t get insurance, you can get six points on your licence and a £300 fixed penalty. However, if your case goes to court, you could be disqualified from driving and get an unlimited fine for the offence.
The perfect number plate – no matter what it is – shouldn’t have a negative impact on your insurance rates. However, this is not the be-all-end-all rule, and some insurers will try to raise the cost of insurance if you have a personalised registration plate as it increases the value of the vehicle. On the other hand, though, some insurers may be willing to reduce the insurance cost due to the plate being easier to recognise and therefore less likely to be stolen.
If your insurer wants to increase the rate because of a personalised plate, we encourage you to challenge this, as changing the plate doesn’t impact the vehicle’s performance. If they are unwilling to move on this, it’s probably worth looking at other insurers to find a better deal.
It’s worth noting here that if you have a personalised registration plate or a plate type other than the standard printed (2D) plate, such as a 3D or 4D plate, these need to be declared when doing insurance. You also need to inform your insurance provider if you switch from a standard plate to a private plate, and you might need to pay the admin fee.
Now that you know the answer to ‘do number plates affect insurance rates’, you’re probably wondering what else could impact the price you pay. Fortunately (or unfortunately), there are many factors that are taken into consideration when an insurer determines your insurance rate.
We will go through some of the most important factors below, then explore some additional points that you might not be aware of.
The type of car you have has a huge impact on your insurance rates. Not only that, but the age of the car also comes into play, so it might not always be the best idea to opt for the fanciest car out there if you can’t afford all the additional fees that come with it.
Things like custom exhausts, tinted windows, spoilers, and more, can all impact the insurance you pay on a car. Costs can go up or down depending on the modification, so don’t let this put you off modifications for good!
Modifications like collision warning technology and AEB (Autonomous Emergency Brake) will lower insurance, while spoilers, remapping, engine upgrades, alloy wheels, and filters can bump up the price.
Your driving record is key when an insurer is considering how much you should pay for insurance. If you have several points on your licence and have the tendency to get in trouble, insurance will be higher. However, if your record is clean, then you are subject to lower insurance costs if you have had your licence for several years.
Your expected annual mileage will show your insurer the expected wear and tear on the vehicle, and prices will be higher or lower depending on how far you are likely to travel. If you travel a lot for work or trips, costs are likely to be higher than if you were only to commute locally.
Unfortunately, your postcode plays a big role in your potential insurance costs. We say unfortunately, because this isn’t something that you can just change at the drop of the hat.
If you live in an area where there are higher crime rates, or where there are more insurance claims, then your insurance will be more expensive compared to places with less crime and fewer claims. This might feel unfair, but insurers are simply covering all their bases.
Finally, just like all of your personal details impact the insurance rates, the details of any other named drivers that are included in the policy will have an impact, too. This is something to bear in mind when undergoing this task, so be careful of who you are including!
There are more factors that will impact your car’s insurance rates, and some may be more important than others. It’s important to determine what kind of coverage you will need and not go over the top if it isn’t necessary. While you are doing this to protect your car, not everyone has the money to throw around at anything and everything that an insurance company might have to offer.
Below are some additional factors that an insurer will use to determine your insurance costs
If you want to get cheaper insurance, there are a few things that you can do. With that being said, most insurance companies will not go too low, especially if you are a new driver, as there are simply too many risks. It’s always worth looking for reals and making use of comparison websites (like Confused.com, Compare the Market, or Go Compare) to find something that suits you within your budget, so never settle on the first option you come across.
Some of the things you can do to get cheaper car insurance includes living in a safe or low crime area, keeping your licence clean, purchasing a vehicle in a lower insurance group, and being mindful of any modifications you get. With these in mind, you could bring your insurance rates down significantly.
Interested in learning more? At the Number Plate Clinic, we have blogs on the most expensive private plate to be sold in the UK, what to do if your plate falls off, and if you need a front plate in the UK, plus much more. And if you would like to purchase a plate from us, just head to our site to choose from our selection.
Read through our terms and conditions, privacy policy and refund policy before making a purchase. You can also learn about our workshop and affiliate program, or find out more by speaking with our customer service if you want to purchase high-quality, DVLA-compliant number plates.
So, do number plates affect insurance rates? In rare cases, a plate could impact your insurance cost, but this is rare. If anything, getting a private plate might bring the cost down as they are more identifiable, but this is not a rule.
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