In the summer of 2014, a new initiative called MyLicence was introduced to make the process of arranging motor insurance much more straightforward.
Now, if you’re searching for car insurance quotes, you might find you’re asked for your driving licence number (DLN). The DLN is used by the insurer to obtain information from the Driver and Vehicle Licensing Agency (DVLA) about the type of licence held, how long it has been held for and whether there are any convictions in place.
Pulling this data from the DVLA database means the opportunity for error when declaring information about your driving history will be removed. It is said that almost one in five policyholders are under-declaring the number of motoring convictions they hold: some by accident, but others purposefully to reduce premiums.
MyLicence is a joint initiative between the DVLA, the Department for Transport and the insurance industry represented by the Association of British Insurers (ABI) and the Motor Insurers’ Bureau (MIB).
Honest customers will save an average of £15 on the cost of their motor insurance thanks to MyLicence and you’ll also notice fewer questions being asked when you apply for cover so you’ll find it quicker to get through the whole process.