I am currently looking at car insurance.......

[askyourgran]

We have just bought a new car and I am shopping around for car insurance for it. The problem is we have a private plate which is on retention for the moment, and we haven't got the paperwork for it to have our private plate put on the new car yet. However I work it out I will still have to pay up to £30 to have the insurance altered to show our 'private plate' registration. It is a rip-off, and I can't think of a way to get around it.

[askyourgran]

I got a reasonable quote from Sheila's Wheels for my other Honda, hopefully I'll find one for the new car before the weekend.

[twix123]

Most insurers will charge a fee for a Mid Term Adjustment, although in your case the registration number is the same the VIN Number will have changed.

Also, if it is a brand new car you are insuring, and it is fully comprehensive cover, are the insurers offering to pay the replacement value should the car be written off in the first year, which will obviously increase their possible liability.

[askyourgran]

We were asked if we wanted to buy GAP (?) at Honda when we bought the car twix, but we said no. I haven't seen anything in any of the insurance offers that covers that. I don't think we can get away with having to pay the extra to amend the insurance certificate when we change it back to our private plate. Not sure how long we can keep the private plate on retention.

[twix123]

GAP insurance is designed to cover the difference between a car's value if it is written off and any amount owing to a finance company. This can be very relevant where a low deposit has been paid and therefore a high amount is owing to the finance company, not forgetting that a car loses value as soon as it is driven away from the dealer.
As I said in my previous post, some insurers will replace the car if it is written off in it's first year, but obviously their liability is going to be greater by replacing a car 11 months old with a new one than paying out the value of a car 13 months old.
Most insurers will charge an administration fee of between £20 & £30 to change the details of the car being covered, which also includes making the changes on the Motor Insurance Database, which is used by the DVLA and the police to ensure that insurance is in place. These changes will include the alteration from the original registration number to your 'cherished plate' number.

[askyourgran]

Thanks twix. MrAsk took out some new insurance today for the new car, and the insurer has agreed that if we get the retention certificate from DVLA within the next two weeks they won't charge us the £35 to alter the Insurance Certificate. Hopefully DVLA will come up with the goods in time.