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WebVehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. WebSep 23, 2024 · On the other hand, mild hybrids attract 29 percent tax and strong hybrids attract 43 percent tax. For internal combustion engine (ICE) vehicles, the tax rate is 29 … WebJul 13, 2024 · If your new hybrid vehicle has an electric range of 130 miles or more, it could qualify for the lowest BIK tax rate along with 100% electric vehicles. Check the tables below for the full range of benefit in kind rates for electric vehicles registered before and after April 2024 , with the 2024 rates also listed for savings comparisons. lobby-bold