Section : Agreed Value

Number plate values

Posted By : Graham Cowan, 29-Jan-2007, 09:12am

With agreed valuations is the market value of the number plate taken into consideration? I only ask as it just dawned on me that my carÂ’s plate is almost worth more than the car itself, although I would never sell. If the unthinkable should happen, and the car be written-off, what happens to ownership of the plate? Has anyone had such an experience?
Just curious,
Graham.

Followups :

Number plate values

Posted By : Colin Wake, 29-Jan-2007, 09:33am

If you are insured with FJ, I think you need to declare the value of the plate.

There are mechanisms for retaining number plates in the event of a total loss write off, but you have to be quick and transfer it off in a very short period of time.

Cheers

Colin
Number plate values

Posted By : Mike Crewes, 29-Jan-2007, 12:07pm

Graham

Firstly, it is important to realise that you NEVER OWN a registration mark. It is always owned by the DVLA, on behalf of the Secretary of State. All that you are able to do is buy, or otherwise secure, use of it. For this reason they are uninsurable and not taken into consideration on Agreed Valuations.

If you sell a vehicle and the registration mark remains on the vehicle after the sale, you have also sold your right to use it. So, if you wish to retain your right to use the mark you should transfer it first. In the event of a total loss, this should be done:
1) before the Insurance Company payout, and
2) before the MoT Certificate expires.

This may also explain why, if you abuse the use of the registration mark (e.g. by incorrect spacing, etc.) the DVLA can and sometimes do, remove your right to using it.

I hope that this is helpful.
Regards
Mike
- Number plate values
  
  Posted By : Graham Cowan, 29-Jan-2007, 03:02pm
  
  Thanks chaps, interesting info. I never knew our reg numbers were effectively on hire from the DVLA. CanÂ’t wait to tell my brother-in-law that the Â‘personalisedÂ’ reg he has just paid a small fortune for is technically not his!!
  - Number plate values
    
    Posted By : Colin Wake, 29-Jan-2007, 03:21pm
    
    I am sure that it used to be that the Queen 'owned' all the registration numbers and she used the DVLC to co-ordinate the 'hire' of them to the end users.
    
    Which is why she doesn't have plates on her cars as she knows who owns them, or something simsilar.
    
    But I suspect our current gevernamnt (or the previous bunch of identical wasters) changed the rules so they the government owns the plates so it can flog them off.
    
    Cheers
    
    Colin