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".
Household bills 'cost £15,000 a year'
British households spend an average £12,000 per year on mortgage payments and over £3,000 on other bills, Citizens Advice has claimed.According to the charity, families are paying £40 per day on the bills - putting an increasing strain on their budgets.Most energy firms have already announced 15 per cent price rises on general plans - and water regulator Ofwat also said last week that customers...Read More
Fallout to hit Skipton Building Society
As we covered in one of our earlier articles, the Skipton Building Society has effectively ripped up and rewritten thousands of mortgage arrangements using a get out clause introduced in 2002. The company has used the prolonged period of low base rates in the UK as a means of rewriting the terms of its standard variable rate mortgage which prior to yesterday could not be more than three percentage...Read More
Will UK base rates move in 2010?
The subject of UK base rates has been prominent in the minds of many analysts and economists over the last few months with very different views expressed regarding any potential movement in 2010. On one hand we see the UK economy struggling to pull free of the recession, with some suggesting a double dip recession, and on the other we see a surge in the rate of inflation which needs to be addresse...Read More
The Budget Statement 2014 – 10 key points
20/03/2014 On Wednesday Chancellor George Osborne announced his Budget Statement to the House of Commons, where he set out his plans to stimulate our recovering economy. Early signs suggest most are happy with the proposals set out by the Chancellor as several tax breaks were made for the lower earners, potentially making the cost of living cheaper for the next year. If you’re not sure...Read More
UK government delays publication of new banking regulations
The UK government has today attracted significant criticism from both opposition parties and those in the UK financial sector. After stripping out the forthcoming financial sector White Paper, the legal framework for new legislation, from the last budget this particularly vital piece of legislation had been expected this week. However, amid claims that there are problems behind the scenes,...