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COVID-19: Customer update

We’re currently experiencing a high volume of calls into our contact centre and whilst we are doing our very best to maintain service levels, we ask that you only call our contact centre if absolutely necessary so we can keep our phone lines available  for vulnerable customers and those who don’t have access to online services.

If you need to check any details or make a change to your policy, please  log in to your Self-Service Centre. It will be much quicker for you to make changes to your policy online at the moment. Once logged in, you can also use our Webchat service which is available Monday- Saturday 8am-6pm and Sunday 10am-4pm to make changes, accept or decline your renewal or if you need to let us know about a claim. To log in, please click here.

We also have some other information that may be useful. Click here to read our FAQ’s, and information on what we are doing to support key workers can be found here.

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What is IPT? And how does it affect my insurance?

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IPT, or Insurance Premium Tax as it’s known is essentially a tax on general insurance premiums in the United Kingdom.

UK insurance customers, once again, face further hikes in Insurance Premium Tax with the increase of the standard rate from 10% to 12%. This change came into effect on 1st June 2016 and affects all policies brought on or after this date.

But what does this mean, and will it actually affect us?

Essentially IPT is a bit like VAT but is added on the price of your personal insurances (if you want to know more details about what IPT is then please see our guide to IPT. The price you’re currently paying for your insurance policy includes this tax which goes to the government, so if this tax goes up then so will your insurance premium.

This is something that the government decides, not the insurance providers , and every insurance company in the market that provides personal insurances is affected by changes in IPT.

What is the rate of IPT tax and how has it changed?

  • From 6.5% to 9.5% in November 2015
  • To 10% from October 2016
  • from 10% to 12% in June 2017

This means that the rate has nearly doubled in under 2 years.

The Association of British Insurers have stated that ‘Overall, the current rate of IPT at 12% could be adding an extra £283 a year to a typical household’s annual insurance bill as the rate has now doubled since November 2015. This latest hike will mean that the Government will take in £5.8 billion a year from IPT’.

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We’re currently experiencing a high volume of calls into our contact centre and whilst we are doing our very best to maintain service levels, we ask that you only call our contact centre if absolutely necessary so we can keep our phone lines available  for vulnerable customers and those who don’t have access to online services.

If you need to check any details or make a change to your policy, please  log in to your Self-Service Centre. It will be much quicker for you to make changes to your policy online at the moment. Once logged in, you can also use our Webchat service which is available Monday- Saturday 8am-6pm and Sunday 10am-4pm to make changes, accept or decline your renewal or if you need to let us know about a claim. To log in, please click here.

We also have some other information that may be useful. Click here to read our FAQ’s, and information on what we are doing to support key workers can be found here.

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