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.
READ MORE: Number plate changes hit the UK this week
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