Saga: Over-50s becoming web savvy
by David Masters
Story link: Saga: Over-50s becoming web savvy
Britain’s older fifties are increasingly becoming internet savvy as they use the web to research products before they buy. Saga insurance claim silver surfers like to use the web to check out reviews on products and to find the best possible deal. “They tend to research larger purchases like cars online and then prefer traditional [...]
Aviva unveils new technology for predicting flood risk
by David Masters
Story link: Aviva unveils new technology for predicting flood risk
Aviva has unveiled new technology to help it more accurately predict the risk of flooding for homes and businesses. Aviva, Britain’s largest insurer, said the map will enable it to more accurately assess the risks of each individual customer. The technology, developed in partnership with JBA Consulting, uses digital technology to simulate which areas are [...]
Dodgy insurance claims on the rise
by David Masters
Story link: Dodgy insurance claims on the rise
The number of dodgy insurance claims has increased significantly since the onset of the recession, pushing up the cost of insurance. Research by LV= found around 40% of solicitors have experienced a rise in the number of spurious insurance claims. Over half (52%) of the potentially fake claims involve car accidents. Whiplash was the most [...]
Pets are nearly as overweight as their owners
by David Masters
Story link: Pets are nearly as overweight as their owners
Three in ten pets owned by British households are overweight, putting their health at risk, new research has found. The study by Sainsbury’s Finance found that one in ten (9%) pets are severely overweight, while 30% are heavier than recommended. Another poll of vets found that four in ten animals taken to the vets are [...]
Microinsurance receives $30m boost in India
by David Masters
Story link: Microinsurance receives $30m boost in India
India’s microinsurance sector is set to receive a $30 million injection. Edinburgh-based LeapFrog this week announced plans to invest the money in Indian insurance and financial services firms to boost growth in the country’s microinsurance market. The money comes from a total fund of over $110 million that LeapFrog has raised to invest in microinsurance [...]
Fronting rife among young drivers
by David Masters
Story link: Fronting rife among young drivers
One in ten families are guilty of fronting on their car insurance, according to research by moneysupermarket.com. Fronting – in which parents insure their child’s car in their own name to save money – is illegal and can result in claims being rejected by insurers. Nonetheless, one in three (30%) parents polled said they would [...]
Five year old cars the worst for claims
by David Masters
Story link: Five year old cars the worst for claims
Motorists with five year old cars are the most likely to make a claim on their car insurance, according to research by Virgin Money. The insurance provide found that 9.6% of all claims were from drivers with five year old cars. This compares to ten year old cars, which account for just 6% of claims, [...]
Could using Facebook increase your insurance premiums?
by David Masters
Story link: Could using Facebook increase your insurance premiums?
Home insurance providers could start hiking premiums for users of social networking sites such as Facebook and Twitter. Price comparison site Confused.com issued the warning after it revealed that users of social media websites make themselves vulnerable to thieves by posting information about their location online. Potential criminals could use information posted on Twitter, Facebook [...]
Moneysupermarket.com revamps car insurance comparison
by David Masters
Story link: Moneysupermarket.com revamps car insurance comparison
Moneysupermarket.com has revamped its car insurance price comparison service to make it more user friendly. The website said the updates make its price comparison service the fastest and most accurate available in the UK. Visitors to moneysupermarket.com can now get up to 120 car insurance quotes in under three minutes. A new look results page [...]
Is protecting your no-claims discount worth the money?
by David Masters
Story link: Is protecting your no-claims discount worth the money?
Motorists who fail to protect their no-claims discount (NCD) could find themselves paying up to 73% more on car insurance after a crash. Research by moneysupermarket found that a driver with five year’s unprotected NCD would see their premiums hiked from £528 to £911, an increase of £383, or 73%. Motorists who protected their five [...]
MP3 downloads rarely covered by home insurance
by David Masters
Story link: MP3 downloads rarely covered by home insurance
As the money spent by British music lovers on MP3 downloads tops the £1 billion mark, it has emerged that most home insurance policies do not provide cover for music collections purchased online. Only one in twenty (5%) of people who download music from sites such as Amazon and iTunes know for certain that their [...]
Over-80s refused car insurance
by David Masters
Story link: Over-80s refused car insurance
Motorists over 80 years old are being denied car insurance quotes, according to new research by Age Concern and Help the Aged. Half of motor insurance companies will not provide car insurance to drivers aged over 80, their investigation found. A significant number of insurers refused to provide quotes for any driver over the age [...]
Fortis issues frozen pipes advice
by David Masters
Story link: Fortis issues frozen pipes advice
Fortis has launched an advice pack for homeowners outlining the steps they should take to stop water damage during cold weather. Householders should use the acronym ‘THAW’ to remember the parts of the home that need to be checked in cold weather – Taps, Heating, Attics, and Water, Fortis said. Fortis advises keeping heating on [...]
Speeding drivers pay double premiums
by David Masters
Story link: Speeding drivers pay double premiums
Drivers caught speeding pay an average of £100 extra on their car insurance, new research has discovered. Getting caught out three times means paying up to double the amount on insurance premiums, moneysupermarket.com found. A study by the price comparison site identified the UK’s worst speeding offenders. Scotland, Swindon, and Sheffield were named as home [...]
British skiers drunk on alpine slopes
by David Masters
Story link: British skiers drunk on alpine slopes
British holidaymakers on alpine getaways are skiing and snowboarding with nearly double the drink-drive limit of alcohol in their bloodstream. Research by More Than Insurance found over half a million Brits have gone skiing the morning after a drinking session with seven units of alcohol still pumping through their body. Nearly three quarters (74%) of [...]
Freezing weather sees water damage claims soar
by David Masters
Story link: Freezing weather sees water damage claims soar
Householders are being warned to keep their homes warm during the current freezing weather or risk having their property flooded by burst water pipes. Research by Virgin Money found burst water pipes and “escape of water” accounted for 15% of claims between December 2008 and November 2009. The average amount paid out for these claims [...]
Young motorists charged “horrendous” premiums
by David Masters
Story link: Young motorists charged “horrendous” premiums
Many young motorists struggle to understand why car insurance is important, an industry expert has claimed. Young drivers feel ripped-off by car insurance firms because it is cheaper to be fined for not being insured than to pay for insurance, said Nigel Lacy of car insurance scheme Young Marmalade. Teenage drivers can find themselves paying [...]
Floods could cost £4bn per year by 2035
by David Masters
Story link: Floods could cost £4bn per year by 2035
Home insurance firms are set to lose £4 billion a year by 2035 on repairing flood water damage unless the industry takes the lead in creating a flood prevention strategy. Insurance companies should work with the Environment Agency and local authorities on putting flood prevention measures in place and making homes flood proof, Co-operative Financial [...]
Car theft hotspots revealed
by David Masters
Story link: Car theft hotspots revealed
Motorists living in Chislehurst, Kent, or Wingate, Cleveland are three times more likely than average to have their car stolen, research from moneysupermarket.com has discovered. The price comparison site announced the findings when it revealed the top 20 locations for theft claims on car insurance. Big cities including Manchester, Sheffield and Bradford featured in the [...]
Gocompare.com launches pet insurance price comparison
by David Masters
Story link: Gocompare.com launches pet insurance price comparison
Gocompare.com has become the first UK comparison site to compare pet insurance policies. The service, launched this week, allows pet owners to compare up to 16 pet insurance policies, with more to be added in the near future. As well as comparing price, pet owners can compare the level of cover provided and the length [...]
