BREXIT SAVES US BILLIONS IN EU FEES AND MEMBERSHIP COSTS
Brexit saves UK motorists on average £50 a year extra on their motor insurance premiums, by avoiding the impact of a controversial decision made by the European Courts to mandate insurance for vehicles on private land.
Explanation:
In 2014 the European Court of Justice (CJEU or ECJ) made a ruling on a Slovenian case, of a person injured by a vehicle on private land, which meant that by EU law all vehicles used on private land would need to be covered by motor vehicle insurance.
This ruling had wide-sweeping implications both for the insurance industry and for the general public, as vehicles previously sitting well outside of motor insurance requirements would then be considered as requiring it, such as ride-on lawnmowers, quad bikes, motorsport vehicles and many other agricultural vehicles not intended for public road use.
By leaving the EU, the UK Government was able to introduce primary legislation to remove the impact of this ruling from the UK statute books, and return UK motor insurance laws to the way in which they were intended to operate.
If left unaddressed, the CJEU ruling was projected to increase overall motor insurance annual costs by over £1 billion a year, which would have seen consumer premiums increase by on average £50 per policy per year.
In short, leaving the EU saves British motorists £50 a year, each and every year, rising with inflation.
Reference: https://www.gov.uk/government/news/motorists-to-avoid-annual-eu-price-hike-thanks-to-brexit-powers
Reference: https://www.weightmans.com/insights/the-implications-of-the-vnuk-case/