According to the government, 3.5 percent rise in Insurance premium tax (IPT) will bring £8.1 billion for the treasury by 2021 but it hurts your insurance budget badly. Association of British Insurers (ABI) forecasts, it will affect 7.3 million car insurance policies in UK. Because of this tax hike consumers will pay £13 more on their average comprehensive motor insurance policy from 1st November.
As a leading price comparison website FreePriceCompare would like to suggest not to renew your existing policy but try our advance car insurance comparison tool for finding the cheaper car insurance quotes online. You can order it online from our website or alternatively you can call our insurance advisor at 0203 4757 476. You can retrieve quotes for cosmetic car insurance and breakdown cover as a supplementary or individual product.