Motor Vehicles: Insurance

Department for Transport written question – answered on 22nd March 2016.

Alert me about debates like this

Photo of Jim Shannon Jim Shannon Shadow DUP Spokesperson (Health), Shadow DUP Spokesperson (Transport), Shadow DUP Spokesperson (Equality)

To ask the Secretary of State for Transport, what discussions he has had with motor vehicle insurance companies on reducing the level of insurance premiums.

Photo of Andrew Jones Andrew Jones Parliamentary Under-Secretary (Department for Transport)

The Department for Transport has held a number of recent meetings with the motor insurance industry, for example to discuss young driver safety and technology measures which impact on the cost of insurance.

The Autumn Statement 2015 announced the Government will bring forward measures to reduce the excessive costs arising from unnecessary whiplash claims, and as the industry is competitive we expect average savings of £40 to £50 per motor insurance policy to be passed onto customers. Some insurers have already committed to pass on all savings to consumers as a result of the proposed changes.

The pricing of insurance products is a commercial matter for individual insurers in which the Government does not seek to intervene.

Does this answer the above question?

Yes0 people think so

No1 person thinks not

Would you like to ask a question like this yourself? Use our Freedom of Information site.