British motorists will be spared a possible £50 annual increase in insurance as the government continues to grapple with cost of living pressures and uses post-Brexit freedoms to end a controversy
A bill to remove
This would have extended to vehicles on private land, meaning even people with home lawn mowers would potentially need car insurance. However, other insurance options are already available for people who need coverage on their private land, such as farmers.
Failure to enforce the law will prevent a rise of almost £2 billion for the country’s insurance sector, which would have translated into a potential increase in individual insurance premiums of around £50 per motorist per year .
“Dismiss this nonsense
“It’s another Brexit win and I’m delighted this bill has rightfully passed
The bill was presented to
“I am delighted that Brexit has allowed me to push a bill which could save the average motorist £50 a year.
“I am grateful for the help that
Vnuk would also have covered motorsports collisions, potentially involving vehicles ranging from go-karts to
This could have decimated the motorsports industry due to additional insurance costs of around £458m each year. Scrapping Vnuk will therefore save the world’s leading sector from potential collapse and secure hundreds of thousands of industrial jobs in the process.
The CEO of The
“The MIB welcomes the passage of Motor Vehicles (
“Motorists will no longer face the added costs of future accidents on private land and accidents involving a range of additional vehicles – including lawnmowers and golf carts. This will save everyone money. motorists and will bring us back to the common sense approach we had before the Vnuk shutdown in 2014.”
In addition to the likely financial burden for UK road users, the Vnuk rules are seen as unnecessary as there are already insurance packages available to Britons which cover certain risks on private land.
Motor insurance will always be required for all vehicles on the roads or other public places. However, the removal of Vnuk means that insurance for vehicles used on private land is not required.
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