Fraud fuels 31% hike in car insurance premiums
by Gill Montia
Story link: Fraud fuels 31% hike in car insurance premiums
The AA has named fraud as a major contributor to a 31% increase in car insurance premiums, over the past 12 months.
According to the motoring organisation, the typical cost of fully comprehensive cover currently stands at £704, premiums having risen at their fastest rate since records began 16 years ago.
Furthermore, premiums for younger drivers are [...]
Aviva’s RAC launches misfuelling service
by Gill Montia
Story link: Aviva’s RAC launches misfuelling service
Aviva’s RAC unit has launched a specialist patrol team to aid the 400-plus motorists per day who accidentally put the wrong fuel in their cars.
RAC Fuel Patrol vans are fitted with equipment to extract the contaminated fuel and flush the vehicle’s fuel system on the spot, with motorists driving away, on average, 40 minutes after [...]
Road rage benefits valued by scarce
by Gill Montia
Story link: Road rage benefits valued by scarce
Only one in eight car insurance policies offer any cover for road rage incidents, according to Defaqto’s latest report on the motor insurance industry.
Where they do exist, road rage benefit limits range from £500 to £5,000, with cover for professional counselling costs usually included, and sometimes cover for physical assault.
However, the firm’s general insurance insight [...]
swiftcover reveals insurance claims tricks
by Gill Montia
Story link: swiftcover reveals insurance claims tricks
Online car insurer, swiftcover.com, is suggesting that motorists are increasingly trying to get insurers to pay for old damage and normal wear and tear as part of genuine insurance claims.
To combat the trend, the company has published the top insurance claims tricks and misconceptions as follows:
The “Two For One” claim – a driver will pass-off [...]
Dishonest drivers add £50 to car insurance premiums
by Gill Montia
Story link: Dishonest drivers add £50 to car insurance premiums
Honest UK motorists are paying £1.25 billion a year to support the activities of dishonest drivers.
According to research from Co-operative Insurance, the average car insurance premium carries a £50 penalty to cover costs incurred by uninsured and fraudulent road users.
Launching a joint initiative with road safety charity, Brake, Co-operative Financial Services chief operating officer, Tim [...]
Halfords backs learner drivers
by Richard Kilner
Story link: Halfords backs learner drivers
Halfords, the motoring accessories firm, is encouraging learner drivers to spend more time practising on the roads by teaming up with young driver specialist Provisional Marmalade.
Together, the two offer car insurance from just £3 per day for provisional drivers, who will be able to benefit from comprehensive car insurance at an unprecedented low price.
The measure [...]
Guilty verdict for Manchester “crash for cash” brothers
by Gill Montia
Story link: Guilty verdict for Manchester “crash for cash” brothers
Greater Manchester Police have reported that two brothers who masterminded one of the country’s biggest ever “crash for cash” scams have been convicted.
Rezwan Javed and Rehan Javed, both of Dovedale Close, Burnley, Lancashire, have been found guilty after a trial at Manchester Minshull Street Crown Court of conspiracy to defraud and possession of an [...]
LV= makes speed camera / accident link
by Gill Montia
Story link: LV= makes speed camera / accident link
New research from LV= suggests motorists behave erratically when confronted with speed cameras, typically slamming on the brakes or looking at the speedometer as soon as a camera comes into view.
Eighty-one per cent of respondents to the insurer’s survey admitted to instantly looking at their speedometers, instead of the road, on detecting a speed camera [...]
Hastings offers no frills car insurance
by Richard Kilner
Story link: Hastings offers no frills car insurance
Hasting Insurance Services Limited is offering a new no frills comprehensive car insurance policy to help save money for motorists hit by rising petrol prices and forecast insurance cost increases of 20%.
The policy is aimed at those looking to cut costs, and offers essential core features such as a courtesy car and EU driving, with [...]
AA launches learner driver policy
by Gill Montia
Story link: AA launches learner driver policy
The AA has joined forces with Collingwood Insurance Services to offer a policy for learner drivers that won’t affect the car owner’s insurance.
Learner Driver Insurance is available online and costs from £96.50 for an initial 28-day period of fully-comprehensive cover.
AA Insurance and Driving School, director, Simon Douglas, says: “Many parents are put off adding their [...]
Liberty Syndicates enters UK and Irish motor markets
by Gill Montia
Story link: Liberty Syndicates enters UK and Irish motor markets
Liberty Syndicates Management is entering the UK and Irish motor insurance markets.
The firm has hired Julian Cashen as Class Underwriter and Justin Suttle as Deputy Class Underwriter.
The two, who have over 40 years of market experience between them, will take up their positions later this year, together with a small team of motor specialists.
The [...]
Only a fifth of car insurance offers uninsured loss recovery
by Richard Kilner
Story link: Only a fifth of car insurance offers uninsured loss recovery
Defaqto, the independent financial research firm, has conducted research which reveals that barely a fifth (21%) of motor insurers provide legal cover for uninsured loss recovery as standard.
There is considerable variety amongst comprehensive motor insurance policies, with 28% of insurers not providing uninsured loss recovery at all, and 51% offering coverage as an optional extra.
Insight [...]
Disrespectful driving can be fatal
by Gill Montia
Story link: Disrespectful driving can be fatal
A new report from AXA claims that 800 lives a year are being lost on Britain’s roads through accidents caused by road rage, or disrespectful driving.
The insurer also calculates that £945 million could be saved in premiums if UK motorists rid themselves of aggression and general disrespect of their fellow drivers.
According to a nationwide survey, [...]
Brokers come into their own as GI market hardens
by Gill Montia
Story link: Brokers come into their own as GI market hardens
1 Answer Network is urging consumers to put their faith in local brokers to find the best insurance deals, as a hardening general insurance market sees higher premiums and reduced benefits.
Insurers now need greater capital adequacy but are facing lower investment returns and a high incidence of claims, in some areas of the market.
The Network [...]
Young Marmalade helps promote road safety
by Richard Kilner
Story link: Young Marmalade helps promote road safety
Young Marmalade, specialist insurer for young drivers, is doing its bit to cut the number of deaths on roads, which total some 1.2 million every year.
August is National Road Victim Month, and this year the event’s prime focus is to cut the number of young deaths.
A third of the victims are under 25, and Young [...]
Insurers expose 2,300 fraudulent claims a week
by Gill Montia
Story link: Insurers expose 2,300 fraudulent claims a week
Insurers are currently exposing over 2,300 fraudulent claims every week, according to new data from the Association of British Insurers (ABI).
The figure has risen from a weekly total of 2,000 dishonest claims in 2009, worth over £16 million.
Last year, 122,000 fraudulent insurance claims were uncovered, up 14% on a year earlier.
By value, 4% of all [...]
MIB reveals uninsured driver hotspots
by Gill Montia
Story link: MIB reveals uninsured driver hotspots
The Motor Insurers’ Bureau (MIB) has identified the UK’s uninsured driving hotspots and placed Barkerend in Bradford (BD3) at the top of the list.
The West Yorkshire location is followed by West Gorton, Manchester (M12).
With half of the worst-offending postcodes in the West Midlands, the Birmingham suburbs of Small Heath (B10), Handsworth (B21) and Saltley (B8) [...]
Car insurance shake-out overdue
by Gill Montia
Story link: Car insurance shake-out overdue
Recent surveys illustrating the extent to which car insurance premiums have risen this year have prompted comment from 1 Answer Network spokesman, Trevor Cutts.
According to the Confused.com/EMB Car Insurance Price Index, the average cost of a comprehensive policy jumped 14.2% in the second quarter of 2010, a revelation that comes as no surprise to Mr [...]
Swiftcover gives away free car insurance
by Richard Kilner
Story link: Swiftcover gives away free car insurance
Online insurer swiftcover.com is celebrating its fifth birthday by giving a septet of gifts to its customers.
Seven lucky customers will be given free car insurance, one for every day of the week, beginning at the end of July.
To qualify, motorists need only visit the insurer’s website, take out insurance and see if they are one [...]
Increasing fraud leads to rising car premiums
by Richard Kilner
Story link: Increasing fraud leads to rising car premiums
The AA British Insurance Premium Index has discovered that fraud is fuelling a surge in car insurance premiums, which are now rising faster than ever before.
In the second quarter of 2010 premiums increased by 11%, the largest rise in the Index’s 16 year history.
The average Shoparound premium hit the £704 mark for an annual comprehensive [...]
