Direct Debit insurance 'con'
The average charge each year levied against Britons choosing to pay for home contents insurance via Direct Debit is £31, a new survey shows.Abbey Home Insurance estimates that British households are paying a total of £290 million per year simply for the convenience of paying their home contents insurance premiums by Direct Debit.An estimated 9.3 million people pay for home insurance by Direct Debit and many are not aware that they are often charged for doing so, with 44 per cent of the 215 home contents policies on the market levying a fee for Direct Debit customers.Average APR on charges for payment by Direct Debit is 19.16 per cent per home insurance policy, with the highest rate charged set at 34.9 per cent. This means that, with the average annual premium for contents insurance at £160 a year, customers are paying an average of £31 a year extra for Direct Debit transactions.Prasad Shastri, Abbey head of insurance marketing, said: "Using Direct Debit to buy home insurance is not a service you should be paying for. There is no point using a competitively priced insurer if they then go and add to your annual bill using back-door methods."A recent study by financial website MoneyExpert discovered that car insurance customers pay as much as £182 extra in fees when they opt to pay their premiums monthly by Direct Debit.Consumers are advised to check that they have the appropriate level of home contents cover and are not being charged high additional amounts to pay their premiums by Direct Debit in order to ensure they have the best rate for the level of cover they require.
Even the directors are suffering!
News that directors pay rises are falling would probably have induced some sympathy in the past but when it is revealed that the rate has fallen from 7% a year to 'just' 6.2% a year, i.e. well above inflation, then sympathy is very much thin on the floor. However, this is the situation which some of the UK's top directors find themselves in while those on the 'factor floor' are struggling to agre...Read More
Rescue mission to Greece could last 2 to 3 weeks
Insiders from the European Union are making it plain to reporters and analysts that the European Union and International Monetary Fund visit to Greece, to appraise the budget and economic situation, could last up to three weeks. This is a body blow for investors in the European Union and worldwide who had hoped that the Greek situation would be sorted in the short-term and the proposed multibillio...Read More
Biba urges "sensible precautions" for winter drivers
Motorists heading out over the cold winter period are being advised to ensure they take "sensible precautions" to reduce the risk of an accident.Graeme Trudgill, technical and corporate affairs executive at the British Insurance Brokers' Association (Biba), said that motorists "need to take care" and "make sure their cars are ready for winter".He explained: "The darkness, the wet roads and the icy...Read More
Cold Weather Plan may help save you money on bills
22/10/2014 Public Health England have released The Cold Weather plan, new guidelines for people in the UK to help them deal with the cold winter weather and cut down on heating bills this winter. The new recommendations aim to protect the population from harm due to cold weather, and to help people take advantage of money saving techniques when it comes to heating their homes. The Cold Weathe...Read More
Olympic ‘Distraction’ causes House Price Drop
Sellers of properties within the UK slashed house prices in the month of August, due to the Olympic Games causing a distraction to buyers, along with the faltering economy within the UK to blame too. Data from Rightmove Plc indicates that asking prices in England and Wales fell by an average of 2.4pc as sellers battled against lack of attention from buyers. London alone saw values of housi...Read More