There Should Be No Nasty Surprises That Could Increase Cost of Insurance for ‘Just Managing’ in Next Week’s Autumn Statement Says ABI
In advance of the next Wednesday's Autumn Statement, the ABI is urging the Government to freeze the rate of Insurance Premium Tax (IPT) to help keep household bills for millions of families who are 'just managing' as low as possible.
Since
The ABI calculates that the combined impact of the rises in IPT from 6per cent to 9.5per cent in
* Over
* More than
* A further
"It is time to stop this raid on the responsible. IPT is penalising millions of households and businesses throughout the
"IPT could also hit companies that do the right thing. It could drive up the costs of commercial insurance."
Any further rise in IPT could put a further strain on many household budgets. For example:
Motor insurance. The price paid for the average comprehensive motor policy is
Pet insurance. Many pet owners do not have pet insurance, and any rise in the cost of cover could discourage more owners from taking out cover. Only one in four dog owners and one in seven cat owners are thought to have pet insurance, despite the average insurance claim being around
[Category: Insurance]
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