uSwitch advise browsing for car insurance
by Richard Kilner
Story link: uSwitch advise browsing for car insurance
Research conducted by uSwitch.com has revealed that ‘on the spot’ car insurance, taken out when a car is purchased on the forecourt, is more costly than convenient.
According to uSwitch, the ‘on the spot’ insurance cost is an average of about 10% more expensive than if the motorist had approached the relevant underwriter, and 26% more […]
Motorists using mobiles face price hike
by Richard Kilner
Story link: Motorists using mobiles face price hike
Drivers caught using their mobile phone whilst on the move could be hit with a large premium price rise of 30%.
Allianz Insurance is to deal with those found guilty of using a mobile phone whilst driving in the same manner as those found guilty of dangerous driving.
This replaces the old policy, under which mobile phone […]
AA reveals car vandalism stats
by Richard Kilner
Story link: AA reveals car vandalism stats
AA Personal Loans has conducted research revealing that most cars are broken into or vandalised whilst parked in residential areas.
A majority, 72%, of drivers have had their car suffer damage through vandalism.
Almost half, 43%, of drivers know somebody whose car has been broken into whilst parked in a residential area.
Contrary to popular belief, residential streets […]
Allianz ups premiums for drivers on mobiles
by Gill Montia
Story link: Allianz ups premiums for drivers on mobiles
Allianz has become the first motor insurer to raise premiums specifically for drivers convicted of using their mobile phones whilst at the wheel.
Previously, the insurer treats points on a licence for mobile phone use as equivalent to a speeding a conviction.
The new regime will increase premiums by 30%, the same hike as applied to motorists […]
MIB assists in seizure of 100 uninsured vehicles
by Gill Montia
Story link: MIB assists in seizure of 100 uninsured vehicles
The Motor Insurers’ Bureau (MIB) has assisted police in an operation against vehicle crime that took place across south-west England and Wales, last week.
Over 900 vehicles were stopped, 58 people arrested and 156 vehicles seized.
Of the vehicles seized 100 had no insurance and over 50 had no tax. Fifteen arrests were made for driving whilst […]
15% of motorists confess to driving without insurance
by Richard Kilner
Story link: 15% of motorists confess to driving without insurance
A survey conducted by moneysupermarket.com has shown that as many as 15% of British motorists have driven without car insurance.
Most of those, 9%, had driven another person’s vehicle whilst lacking insurance coverage for it, with 6% surprisingly having driven their own vehicle but without insurance.
The survey also reveals a clear gender gap, with men twice […]
Insurance costs more in Islington
by Gill Montia
Story link: Insurance costs more in Islington
A study by EMB, the actuarial consultancy, has concluded that the London borough of Islington has become the most expensive locality in the UK in which to insure possessions.
EMB has calculated the average annual combination of motor, buildings and contents premiums for the 10 “worst” and “best” places to live in the UK, in terms […]
High car insurance premiums lead to concerns over honesty
by Richard Kilner
Story link: High car insurance premiums lead to concerns over honesty
Car insurance premiums are at an all-time high, causing concern that motorists may attempt to acquire lower premiums through deceit, according to Gocompare.com.
The site strongly advises drivers not to go down the road of giving misleading information, or missing out pertinent facts when filling out forms.
However, those who do so could risk rendering their car […]
Changes to car insurance cost a third of a billion last year
by Richard Kilner
Story link: Changes to car insurance cost a third of a billion last year
Price comparison site uSwitch.com has calculated that changes/amendments to car insurance policies rack up a total cost of £333m per year.
The fees are incurred when motorists fail to inform their insurers of changes to either their care or their personal information, which could potentially throw the insurance policy into jeopardy.
According to the website, approximately 14m […]
Car modifications can be costly
by Richard Kilner
Story link: Car modifications can be costly
According to new research conducted by Confused.com modifying a vehicle can increase its insurance premium by up to 139% (£545).
Using a 20 year old man with no claims/convictions with a VW Golf 1.5l as a template, the price comparison site discovered that quotes for cars with and without modifications varied by up to £1026.42, or […]
Young drivers cause 50 accidents a day
by Gill Montia
Story link: Young drivers cause 50 accidents a day
New research confirms that young drivers are at high risk of being involved in a serious motor accident.
According to statistics from the Association of British Insurers (ABI), each day Britain’s roads see four fatalities or cases of serious injury resulting from accidents involving young drivers.
Meanwhile, the country’s eighteen-year-olds cause 50 collisions a day, nearly […]
Pass Plus lowers young driver premiums
by Gill Montia
Story link: Pass Plus lowers young driver premiums
Young drivers can reduce the cost of their motor insurance by topping up their driving test with an additional motoring qualification.
Figures from the Association of British Insurers show that males under the age of 21 are 10 times more likely to have an accident than those over 35, and premiums reflect the increased risk.
However, taking […]
Motorists going green
by Richard Kilner
Story link: Motorists going green
The AA has released fresh research suggesting that the environmental impact of a vehicle is growing in importance amongst the factors considered by motorists.
Two years ago when asked if they intended to purchase a ‘green’ car this year, a mere 6% of respondents said that they were.
However, the new research reveals that this figure has […]
No profit in sight for private motor business
by Gill Montia
Story link: No profit in sight for private motor business
AA Insurance is not in agreement with a recent assessment of the profitability of private motor insurance business by market analyst, Datamonitor.
The latter is predicting that private motor insurance will show a profit in 2009, for the first time in 14 years.
However, AA Insurance thinks this is unlikely because of inflation and the strongly competitive […]
AA says car insurance to remain unprofitable in 2009
by Richard Kilner
Story link: AA says car insurance to remain unprofitable in 2009
Datamonitor today claimed that in 2009 the UK motor insurance industry will make a profit.
However, it has been refuted by AA Insurance who cite rising claims costs coupled with high competitiveness which provide twofold pressure to both increase costs to cover the higher payouts and to lower costs to maintain a competitive edge.
The firm’s chief […]
Female motorists put themselves at unnecessary risk of theft
by Richard Kilner
Story link: Female motorists put themselves at unnecessary risk of theft
Sheilas’ Wheels, a womens’ car insurer, has discovered that female drivers are exposing themselves to unnecessary risks by leaving personal items in their cars.
On average the value of the goods is around £129, with a sum total of £2bn.
Research conducted by the insurer has revealed that three-fifths of women see their vehicle as an extension […]
Private motor insurers turn profitable in 2009
by Gill Montia
Story link: Private motor insurers turn profitable in 2009
A report by Datamonitor, the market analyst, claims that next year, UK motor insurers will make a profit for the first time in 14 years.
The rising cost of claims and strong competition in the market will leave the UK private motor insurance market in the red again this year, but it is expected to make […]
Budget could cost motorists who aren’t green enough
by Richard Kilner
Story link: Budget could cost motorists who aren’t green enough
Chancellor Alistair Darling’s first Budget is tomorrow, and expectations are that it will combine a green agenda with tight public finances by increasing the number of green taxes.
For motorists, this is likely to impact the less environmentally vehicles which will probably be subjected to higher levels of road tax.
Correspondingly, greener cars may well see their […]
Launch of Islamic insurance business
by Gill Montia
Story link: Launch of Islamic insurance business
A new insurance business set up to comply with Islamic beliefs has appointed Capita, the outsourcing company best known for operating London’s congestion charge, to provide backoffice functions.
From April, Capita will sell car and home insurance products for British Islamic Insurance Holdings.
The initial launch will be followed by life insurance, investment, savings and ethical financial […]
Highway profits up 27%
by David Masters
Story link: Highway profits up 27%
Motor insurer Highway have reported their results for 2007, with profits rising by 27% to £24.3 million.
However, the insurer’s combined ratio (COR) was also up, rising to 101.4% compared to 98.9% the previous year. Highway blamed 1.8% of the rise on exceptional claims due to the UK’s summer floods.
Net assets rose 11% to £103 […]
