Esure charging me £90 to change my registration

kmb500

I am insured with esure and put my private plate on my new car. I have put private plates on lots of cars and only ever been charged an admin fee.

Esure says that changing my number plate makes me a higher risk factor therefore in addition to the £26 admin fee, my premium has been increased by an extra £90.

This does not sound right to me. Any advice please?

subjecttocontract

Last week I also changed the registration number on my Range Rover to a private plate that I had on retention. I'm also insured with Esure and did the whole transfer online. My charges were £0. So, it's got to be the type of car &/or your claims history.

DullGreyGuy

It depends on how their algorithm works... for some they will reprice the whole policy based on todays rates and give you the new price whereas others will judge if the change causes a price difference and if it doesnt then suppress any movements caused by just general pricing changes. 

HillStreetBlues

Depends if insurer classes a personalised plate as an "modification".
Looks like esure does
https://help.esure.com/article/qed00695/how-do-i-change-my-vehicle-registration

To change your vehicle's registration, just log into your online account and select 'make a change'. Alternatively, you can speak to one of our specialists on Live Chat. Please note, a change may increase or decrease your premium. If your change results in an increase, the change will not be complete until payment has been made

macman

Private plate users are more risk-prone drivers? Discuss...

Car_54

I’d have thought a vanity plate makes a car less likely to be stolen. (1) it’s more conspicuous, and (2) the plate is of no value to the villains.

But happy to be proven wrong.

Aretnap

Car_54 said:

I’d have thought a vanity plate makes a car less likely to be stolen. (1) it’s more conspicuous, and (2) the plate is of no value to the villains.

But happy to be proven wrong.

I would have thought it makes a negligible difference either way since if it's going to be sold out will be with fair plates/a new identity anyway.

But most of the risk is accident risk anyway rather than theft risk anyway. Are people with vanity players more likely to be car enthusiasts who drive "enthusiastically"? Are they more likely to be a certain personality type? Without wanting to get too heavily into stereotypes it must be a market for a ton of demographic factors

Ectophile

I suspect it's an observation by the insurance company on the sort of people who buy private plates, rather than any change to the car itself.

Car_54

Ectophile said:

I suspect it's an observation by the insurance company on the sort of people who buy private plates, rather than any change to the car itself.

Good theory. Clearly have money to waste.

Krakkkers

Years ago when my Motorcycle was stolen i was asked how much i weigh? 

Mildly_Miffed

If you don't like it, don't change the plate - or delay it until your policy with esure expires, and change insurers at that point.

Yes, the cost of the insurance change is something you need to take into account in the choice to change your plate. How any given insurer works it out is up to them balancing risk against profit. If their actuarial decisions make them uncompetitive, that's their decision - perhaps those who are cheaper are going to make losses.