Car Insurance

anaylorefc

Is it common for car insurance to have had PPI? It's not mentioned in great detail on the main site, that I can find anyway, but I've noticed my car insruance contracts contain an 'Insurance Premium Tax at 5%'

Thanks in advance

magpiecottage

Insurance Premium Tax is a tax charged by the Government on all general insurance policies (motor, household, travel and PPI) - though not life, critical illness or permanent health insurance.

It is nothing to do with PPI misselling and if you wish to make a complaint about it then you must direct it to your member of Parliament.

anaylorefc

No it's ok. I was just going through old things and wondering what is what. I'm doing all my PPI stuff so thought I'd ask.

Thanks

magpiecottage

Fine - in many ways it is quite a pernicious form of taxation as it is a tax on those providing for themselves - in many cases it will be at least as high as the insurer's own margins but unlike the insurer, the government takes no risk.