Drivers feeling full effect of IPT on impounded car insurance
Impounded car insurance policy holders are feeling the effect of the increased IPT (insurance premium tax) as more policies are coming up for renewal. In a bid to raise more money the government introduced a higher IPT in November of 9.5% (up from 6% a whopping 58% increase in tax on impounded car insurance) a further increase of 0.5% was introduced in this year’s budget taking the tax on impounded car insurance up to a massive 10% and it doesn’t stop there as pre-budget talk suggested there were talks of a rate of 12.5% being introduced this could well be put off till later in the year or next year’s budget. Now, 9 months after the initial increase in impounded car insurance tax the majority of drivers that were on an annual impounded car insurance policy have received their renewal documents and are facing the increased premiums. Drivers must now look at making these savings elsewhere to bring the costs of motoring down. While IPT has increased our team at impounded car insurance will always search and find the lowest cost Impounded Car Insurance policy for you to help save as much as possible despite the increase in IPT.
Impounded Car Insurance UK team has come up with some other ways you can save on motoring costs below:
- Drive only when necessary, if you are going to the local shops and it’s only a 5 or 10 min walk you can save on fuel, help the environment and get a bit of exercise, you could also save money on parking if you have to pay for that.
- Accelerate slowly, putting less pressure on the gas pedal will naturally save you fuel.
- Be more observant and think ahead when driving, thinking ahead will mean you will be doing less last minute braking and can conserve more momentum.
- Try and hover at around 58mph on the motorway, travelling at this speed has been shown to be the most fuel efficient.
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