Caravan Insurance Quotes

Insurance is a necessary purchase for anyone that owns a caravan, but there are some parts of caravan insurance quotes that many people find confusing. Given the various aspects, inclusions and features of each policy it isn’t surprising, and one of the things that’s rarely considered is the inclusion of IPT.

IPT, otherwise known as insurance premium tax, is a tax paid by insurance companies and is normally included in the price of your quote to cover their costs (in that sense it’s similar to VAT). They factor it into the price of your premiums and your monthly payments will reflect the amount of tax that you have to pay, and as of February 2011 the standard level of IPT rose to 6% with the higher rate of insurance premium tax being 20%.

Insurance companies will take this figure into account when calculating the cost of your premiums, so in reality you won’t notice any difference. It’s something that you have to pay and there’s no getting away from it – every caravan insurer has to pay it and therefore so do you, and there’s no chance of having it not included to reduce the cost of your premiums. The only thing you can really do is look for a lower quote as the cheaper the quote the less amount of tax you’ll have to pay, but in the end there’s no getting away from this payment.

So, insurance premium tax this is just one aspect of all caravan insurance quotes that you simply have to live with, and no matter what company you go for it’s always going to be an issue. Looking for cheaper quotes will be the best way of paying a reduced amount of tax but it’s always going to be included, and if you want more advice then don’t be afraid to get in touch.

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