Had the Vnuk law been enforced, this would have meant compulsory insurance policies on a wide range of vehicles outside of traditional transport solutions. Golf buggies, mobility scooters, quad bikes and even ride on lawnmowers would have fallen victim to the proposed legislation, affecting many insurance policies for GB residents.
Bypassing Vnuk will also protect the existence of the UK’s world-leading motorsports industry, which could have been decimated due to the additional insurance costs. Scrapping the rules will save the industry from potential collapse and secure hundreds of thousands of jobs in the sector in the process.
Today’s announcement ensures vehicle policy holders will not be subject to an estimated £50 a year increase in motor insurance costs and helps to secure the future of motor sport events, which may no longer have been viable under the proposal. This provides all lobbying parties, the wider industry and motor sport enthusiasts with a successful and final conclusion.
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