Government urged to cut insurance costs for in-vehicle camera use08 August 2016

In-vehicle camera supplier Vision Track is calling for the government to waive the Insurance Premium Tax (IPT) for fleets adopting telematics technology.

The company’s call follows a similar plea recently from the British Insurance Brokers’ Association (BIBA), which urged the government to consider exempting telematics insurance products aimed at young drivers.

Research from BIBA’s members shows a 40% drop in incident risks among new drivers who use telematics.

Simon Marsh (pictured), VisionTrack’s managing director, maintains that there is justification for similar products targeting transport operators to be afforded the same exemption.

“Transport businesses and fleets contribute significantly to our economy, but have been hit hard by two IPT hikes in the last 12 months, resulting in rising premiums,” says Marsh.

“Those looking to invest in vehicle telematics and cameras may have been put off or have been unable to finance such solutions as a result of increasing costs, yet this technology is a real driving force in the campaign to improve road safety.

“Fleets that use these devices should be rewarded for taking proactive steps to help save lives and cut incident rates.”

Laura Cork

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