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Government scraps paper driving licences -- the road to lower premiums?

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counterpart-driving-licence_thumb (1)Did you know that paper counterpart licences were due to be abolished in January 2015? Due to concerns raised about the move, this has now been put back until June 8 of this year. The paper counterpart licence will not be valid and will no longer be issued by DVLA. Drivers will be expected to destroy the paper versions of their licences -- but  you will still be required to hang on to your current photo card. However, it will still be possible to use the counterpart driving licence to change your address with the DVLA. Or perhaps easier, you can also amend your address details online. From 8 June 2015 penalty points and endorsements will no longer be recorded on paper driving licences. This information will be held on DVLA’s driver record, and will be accessible to licence holders online, by phone or through the post. More information and advice regarding the proposed changes can be found here: BVRLA (British Vehicle Rental and Leasing Association) website What does this mean for motor insurance? The BBC reported last year that moving all driving records online could reduce the cost of car insurance. It was reported that "honest" motorists could see premiums fall by up to £15 a year. Insurers can’t currently check licence or traffic offence details when they sell policies, meaning they have to "price in" risk factors. The Association of British Insurers says premiums are pushed up by companies having to take account of the risk that drivers either do not tell the truth about speeding points to get a lower quote, or simply make a mistake. "Significant cost savings" would also result from "reducing the need to obtain paper copies of licences from policyholders", the association added. A system due to be launched by the Driver and Vehicle Licensing Agency (DVLA) will allow insurers to access the information using an individual's licence number.  "This will enable insurers, for example, to price much more accurately, because they will not have to take anything on trust," he said.

Read 2876 times Last modified on Friday, 04 September 2015 13:33

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