AXA rewards safe motorists
Financial giant AXA has revealed a new car insurance policy which will see those with eight or more years no claims bonus receiving a 90% discount on their premiums. This compares to the average discount of 65% on a maximum five-year no claims bonus and will obviously further benefit the vast majority of drivers in the UK who do not claim on their car insurance.
This comes at a time when the AA has confirmed that UK car insurance premiums will rise by between 10% and 15% in 2010 with the majority of the increase caused by uninsured drivers causing accidents on the road. It would appear that slowly but surely we are seeing a polarisation between safe drivers and dangerous (and uninsured drivers) with many other insurance companies certain to follow the lead set by AXA.
Car insurance premiums have been on an upward spiral for many years now with the cost of covering uninsured drivers taken on by the industry and then spread out amongst insured motorists. Whether or not this is a fair allocation of the added expense associated with uninsured drivers is debatable but it is a trend which began some time ago and has ultimately led to a massive increase in car insurance premiums for "no apparent reason".
Government to introduce new financial regulations
The UK government will this week set out a raft of changes to the UK regulatory system which will see much of the current power handed back to the Bank of England amid concerns that the FSA (Financial Services Authority) is about to be disbanded. While it would appear almost certain that the FSA will be closed down or at the very least certain powers transferred to a new financial body, there are...Read More
Could the World Cup save the UK retail sector?
As we await the first England game of the South Africa 2010 World Cup it is becoming apparent that the World Cup could actually be an event which rescues some UK retailers. Only this week John Lewis reported a 20% increase in sales due in the main to World Cup fever gripping the UK. Despite comments in the press that sales of flatscreen televisions have been disappointing there would appear to be...Read More
Investors advised to cash in shares
Drops in the value of equities means that a move into cash is advisable, Standard Chartered Private Bank has indicated.According to a note from the financial firm, investors should become "underweight" in shares within their portfolio - in order to take advantage of cheap deals as prices continue to fall in months to come.The comments come following another month of credit crunch-induced turmoil o...Read More
Car insurance costs 'soar'
The cost of insuring a car has risen significantly over the last year, according to a new study, particularly for people who pay by monthly instalments.Research conducted by uSwitch revealed that the amount spent on car insurance and fuel has risen nearly £500 to an average of £2,482 a year.Motorists who pay their premiums monthly rather than in a one-off payment could be paying £624 million mo...Read More
Annuity rates have halved in 15 years
Those looking to retire in the short to medium term in the UK will face a nightmare scenario with news that annuity rates have halved over the last 15 years. This unprecedented fall in annuity rates will have a direct impact upon the lifestyle and the finances of many in the UK who are coming up to retirement over the next few years. So what are the options? Unfortunately the options for many f...Read More