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".
The £500 million hidden car insurance cost
A report by comparethemarket.com has suggested that the UK drivers are being charged in excess of £500 million a year extra, just to cover the cost of those driving with no insurance. The figure works out at an extra £31 for the average cost of car insurance in the UK, something which law abiding citizens are some how forced to cover. But why?
As the figure is brought into the p...
Eight million homebuyers unhappy with their purchase
Almost a third of British homebuyers (29 per cent) or eight million people, are unhappy with their new home once they move in, finding that it is not quite what they thought it would be. A study, conducted by AA Insurance, reveals that close to a sixth (13 per cent) of homebuyers feel like they did not get everything they wanted when they bought their last home and eight per cent were not as happy...Read More
Northern Ireland receives job boost from the New York Stock Exchange
The New York Stock Exchange has announced the creation of 400 high-tech jobs in Northern Ireland as the world's largest investment market looks to expand its Irish operations. The jobs will be created in the software industry which supports money markets around the world and is continuing to expand into new areas.
While there is obviously a very close relationship between Northern I...
RBS told to reduce bonus pot by £500 million
Royal Bank of Scotland directors have been told they need to reduce the estimated £1.5 billion bonus pot for 2009 by £500 million. This would appear to be the behind-the-scenes deal which the Treasury has agreed with Royal Bank of Scotland directors as a way for both parties to keep face and to maintain the Royal Bank of Scotland board of directors as it is. So what next? The very fact that b...Read More
How can the government charge 27% interest rates?
The government white paper on the crisis loan fund is dominated by the suggestion that interest will be charged on loans at a rate approaching 30%. Let us not forget these loans are for families around the UK who literally have nothing and need to borrow money off the government, which the currently pay back and 0% interest, to cover such bills as gas and electric. The government has attempted to...Read More