Motoring Discussion > insurance/budget Tax / Insurance / Warranties
Thread Author: Bellboy Replies: 25
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New Thu 10 Jun 10 20:23 
 insurance/budget - Bellboy
Cover may drop if IPT tax rises, say insurers

Speculation is growing that the Government is planning to at least double the 5 per cent tax rate on general insurance premiums in this month's emergency Budget, according to The Times.
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New Thu 10 Jun 10 20:25 
 insurance/budget - Zero
indeed. It will pull in a lot of money. The rate in the uk is lower than most of europe.
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New Thu 10 Jun 10 20:42 
 insurance/budget - RattleandSmoke
That could easily add £50 a year to my premium :( Oh well another reason to give up.
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New Thu 10 Jun 10 21:00 
 insurance/budget - Stuu
As someone who spends £1700 a year in petrol, it would be rather pedantic to complain about the £125 extra I read they may add to premiums. Its not the end of the world.
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New Thu 10 Jun 10 21:09 
 insurance/budget - RattleandSmoke
It is when you're spending £75 a month on insurance and £30 a month on petrol like I do!
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New Thu 10 Jun 10 21:13 
 insurance/budget - Zero
30 pounds a month on petrol?

blimey ratttle, is it worth having a car?

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New Thu 10 Jun 10 21:15 
 insurance/budget - RattleandSmoke
Well I do get 45mpg+ in the city :).

Need a car as I have to transport computers.

I've said many times if it wasn't for this requirement I wouldn't 'need' a car. My dad goes away to see his very elderly dad a lot so we need two cars too.

No doubt in October when my probation ends I shall be driving a lot longer distances.

I currently do 3000 miles a year.

My biggest costs are the loan (so far it seems to be a free car as FIAT are denying I ever took credit with them and the dealer tells me its sorted) and the other one is insurance.
Last edited by: RattleandSmoke on Thu 10 Jun 10 at 21:15
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New Fri 11 Jun 10 06:50 
 insurance/budget - L'escargot
>> No doubt in October when my probation ends .............

And there was me thinking you were a law abiding citizen! For doing what, pray, are you on probation? Now you've mentioned it, you can't leave us all in suspense.
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New Fri 11 Jun 10 10:46 
 insurance/budget - 832ark

>>
>> No doubt in October when my probation ends I shall be driving a lot longer
>> distances.


What's that got to do with it? It seems to me that driving/car ownership causes you so much stress that you probably should'nt bother. Have you worked out how much it would cost you to use a taxi on the occasions you have to transport PCs and bus the other times?
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New Thu 10 Jun 10 22:45 
 insurance/budget - Harleyman
>> It is when you're spending £75 a month on insurance and £30 a month on
>> petrol like I do!
>>

I have to admit that I agree with Rattle here. I have to insure my car, motorcycles and the pick-up. Bear in mind Stu it's not just your car insurance that'll be hit, unless of course you're still living with your parents; home insurance will also increase, and bearing in mind that the insurance companies have like as not taken a massive hit from BP and other disasters, increases will not be limited to the tax rise.

My fear is that it will only serve to increase the number of uninsured drivers on the road, as the penalties for avoidance are still disproportionately low .
Last edited by: Harleyman on Thu 10 Jun 10 at 22:47
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New Thu 10 Jun 10 22:49 
 insurance/budget - bathtub tom
Perhaps it may well be worth buying BP shares while they're down, and hope future dividends will offset these other rises?
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New Fri 11 Jun 10 05:01 
 insurance/budget - Pat
I agree with Rattle too.
Think of the thousands of lorry drivers who drive to work at 2am on Monday morning and then leave their car parked in the firms yard until Friday night and drive home again.
I did that for years but still paid the same tax and Insurance as someone doing high mileage.

Pat
Last edited by: pda on Fri 11 Jun 10 at 05:02
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New Fri 11 Jun 10 06:22 
 insurance/budget - Londoner
Harleyman
>>
>> My fear is that it will only serve to increase the number of uninsured drivers
>> on the road, as the penalties for avoidance are still disproportionately low .
>>

Extremely good point! (Very worrying, as well). :-(
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New Fri 11 Jun 10 06:55 
 insurance/budget - L'escargot
>> Speculation is growing that the Government is planning .............

I'm trying to mellow with age and ignore speculation. I'll deal with the problem if and when it becomes fact.
Last edited by: L'escargot on Fri 11 Jun 10 at 06:56
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New Fri 11 Jun 10 09:47 
 insurance/budget - Bellboy
I'm trying to mellow with age and ignore speculation
>>>>>>
>>>>>>>>you wouldn't have said that if you had owned an allotment in the klondyke In 1897
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New Fri 11 Jun 10 09:49 
 insurance/budget - Iffy
...an allotment in the klondyke In 1897...

Now there's a thought.

"You are not going to dig up my leeks for no darn gold or anything else, so clear off."

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New Fri 11 Jun 10 12:13 
 insurance/budget - RattleandSmoke
With regards to probhation I am still classed as a new driver. If I get six points I am banned and revert back to learner status. After October I am just a normal driver like anybody else so if the worst did happen and I got 3 points for accidently doing 53 in a 50 or something I will not annoying and not the end of the world.

For various reasons it took me a very long time to get my licence (personal things kept getting in the way) but when I did take it I passed first time with four minors. I just don't want to go through the ordeal of a driving test again. Was the worst hour of my life.

Taxis are ok but believe or not I actually like owning a car, I would rather pay a bit more for the convienience. My earnings have increased since having a car because I have more time to work on my business.

My worry is if insurance goes up by 15-25% (not just taxes), fuel goes up by another 20% etc I could be paying £300 a month for a FIAT Panda for a car I do 300 miles a month in! Although even at £1 per mile that is still much cheaper than a Taxi!
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New Sat 12 Jun 10 08:04 
 insurance/budget - L'escargot
>> With regards to probhation I am still classed as a new driver.

It appears that your definition of "on probation" is different from mine.
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New Sat 12 Jun 10 12:48 
 insurance/budget - RattleandSmoke
Its what the DVLA call it :)
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New Fri 11 Jun 10 12:29 
 insurance/budget - Skoda
>> I'll deal with the problem if and when it becomes fact.

Booo :thumbdown: Prevention is better than cure.
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New Sat 12 Jun 10 08:05 
 insurance/budget - L'escargot
>> >> I'll deal with the problem if and when it becomes fact.
>>
>> Booo :thumbdown: Prevention is better than cure.
>>

You worry too much.
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New Mon 14 Jun 10 19:28 
 insurance/budget - Brentus
Just like i keep saying. Will the motorist pull us out of the defecit.
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New Tue 15 Jun 10 12:16 
 insurance/budget - DP
I think we're all going to get shafted in one way or another. The country is over a trillion in the hole. It has to come from somewhere.
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New Tue 15 Jun 10 20:48 
 insurance/budget - Bellboy
www.moneywise.co.uk/news-views/2010/06/15/will-your-insurance-costs-soar-the-budget
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New Thu 17 Jun 10 19:32 
 insurance/budget - sooty123
Mines up nearly 20% this year with no change in circumstances, and that's with me trying all sorts of companies online and not.
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New Thu 17 Jun 10 20:12 
 insurance/budget - Skoda
Mine dropped this time around?! Just renewed in April there. I'm paying not that far off what the coffin dodgers will be paying :-P
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