Tesco Finance Seek Abolition Of Insurance Premium Tax On Green Cars
The car insurance division of Tesco Finance has asked the chancellor of the exchequer to remove the insurance premium tax (IPT) paid on eco-friendly vehicles in order to better promote a green mindset in the UK.
Typically, owners of the well known Toyota Prius hybrid vehicle pay around GBP50 per year more for their insurance than owners of other similar sized cars. The reason for this is the additional costs of repair incurred by the Prius over more traditional models. Tesco Finance would like the cost of insurance to be the same for both types and the abolishment of IPT would achieve this parity.
In the meantime, and with hybrid vehicles still thin on the ground, Tesco Finance have compiled some suggestions for owners to do their bit for the environment. The obvious one of doing less miles is there, as well as regularly checking tyre pressures to ensure they are correct. Underinflated tyres cause more drag, leading to increased fuel consumption.
A survey carried out by Saga Insurance has found that the music we listen to in the car affects our driving, with blues the most likely to end up with a speeding fine.
Direct Line have made some amendments to their car insurance policies to protect drivers against the cost of vandalism on their cars.
The car insurance specialist, the Cooperative has stated that the cost of your motor insurance does depend on where you live in the country.