HC Deb 15 December 1975 vol 902 c495W
Mr. Terry Walker

asked the Secretary of State for Trade whether he will introduce legislation to make insurance companies reduce their car insurance premiums when the value of a vehicle is reduced.

Mr. Clinton Davis

No. Although formerly it was the practice, most car insurance premiums are not now based on the value of the car. That value is relevant only to the minority of claims which amount to a total loss of the vehicle.