Community building insurance premiums to rise
In the recent Budget, the Chancellor announced that Insurance Premium Tax would rise from 6% to 9.5%, taking effect from 1 November. For community hall policies costing around £1,000, this will result in the premium rising by around £35.
As always, when your policy is nearing its renewal date, make sure you shop around to get the best deal for your organisation. The cheapest quote is not always the best as there can be differences in coverage between insurers, but getting multiple quotations can help you get a better deal. Our website has more information and a list of charity specialist insurance companies.
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