|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    25th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Insurance News feed Insurance News

All Financial News feed All Financial News

Insurance costs unaffected by fitting winter tyres

Bookmark and Share

by Jan Harris
Insurance costs unaffected by fitting winter tyres

The Association of British Insurers (ABI) today said that motorist should not be charged extra on their motor insurance for fitting winter tyres.

The ABI’s members, which together account for around 90% of the motor insurance market, have confirmed that they will not expect motorists to pay additional premium if they fit winter tyres, provided that the tyres are up to standard.

Nick Starling, ABI’s Director of General Insurance, said:

“Insurers do not want to penalise motorists who take steps, like fitting winter tyres, to improve their safety on dangerous winter roads.

Last year cold weather came early and there was some uncertainty for customers about the insurance implications of fitting winter tyres.

This commitment clarifies the position for motorists.”

However, motorists should advise their insurer that winter tyres have been fitted.

The ABI has published a list of insurers and their different policies regarding winter tyres.

None of the insurers on the list charge an extra premium when winter tyres are fitted, provided that the tyres are in a roadworthy condition, are fitted correctly and meet the relevant vehicle manufacturers’ specifications.

The ABI’s advice on winter tyres only applies to cars used for personal use which are insured under a private or personal use car insurance policy.

With winter on the doorstep, the ABI has also reassured property owners that their home insurance policies will cover them against damage from bad weather.

Heavy rainfall in Scotland has already led to flooding in some areas but the ABI said that insurance providers across the UK are on standby for this sort of event.

“Events like this are exactly why people take out insurance. Insurers plan for bad weather, and will have arrangements in place to minimise distress and inconvenience and help people recover as quickly as possible,” Mr Starling said.

Discuss this in the Finance Markets forums

Story link: Insurance costs unaffected by fitting winter tyres

News posted: December 1, 2011

Financial Services:

Related financial stories to: Insurance costs unaffected by fitting winter tyres:
Previous: «
Next: »

Visited 3500 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , ,