Motor premiums leap £59 due to IPT


Car insurance premiums leapt an average of £59 in the last quarter of 2015 according to the AA British Insurance Premium Index. The AA said that during the three months the average premium rose by over 10%, the largest increase since 2010. The provider said that the Insurance Premium Tax (IPT) of 9.5% had "piled on the misery" for motorists who have seen the typical cost of cover rise 20% over the past 12 months. Michael Lloyd, director of AA Insurance, pointed out that the imposition of IPT, wh