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The rate of Insurance Premium Tax was raised from November 1st this year, from 6% to 9.5%. This move was announced by the Chancellor, George Osborne earlier this year.
At GapInsurance123 we understand that this rise represents a significant increase, and increasing customer premiums is something that has never been part of our company ethos. If we can help it!
With this in mind we have some good news for you..........................
Unlike many other online providers, the premiums we charge have not changed. Instead we are currently absorbing the extra 3.5% tax increase from the small profit margins we make.
Please remember that we have long been recognised by the likes of Which? as providing some of the lowest UK Gap Insurance premiums. Whilst some of our competitors have increased their already much higher premiums, we stick resolutely to our aim of providing the very best premiums at the very best prices.
Our customer support is key to that pledge, and we thank all our clients for assisting us to do this. Whilst we cannot promise our prices will never increase, we hope we are demonstrating that we do everything we can to provide the best value possible.
GapInsurance123, our best price first time, every time!