£6bn lost on cancelled holidays
With a recent study revealing that over £6 billion was lost last year through people cancelling holidays they have already booked, Britons have been reminded of the importance of taking out a comprehensive travel insurance policy.According to the insurer More Than, who released the findings, while many people book their holidays well in advance, many fail to take out insurance and therefore leave themselves vulnerable to losing money spent on booked travel and accommodation should their plans change.Of all the claims made through More Than's travel insurance service last year, 26 per cent were for the cancellation of holidays, with an average cost of £856.Commenting on the findings, the company's head of travel insurance, Keira Clark, said: "It's encouraging that holidaymakers are catching on to the importance of travel insurance, but many still don't realise that by purchasing their policies late, they miss out on valuable cancellation cover."The comments come soon after British holidaymakers were advised to make sure their building insurance is up-to-date before going away, in the event of leaking pipes and water damage.
Short-term pain long-term gain
As government forecasts for the performance of the UK economy in the short, medium and longer term come under more and more scrutiny there is no doubt that UK taxpayers will be in for a period of "short-term pain and long-term gain" with regards to taxation. However, the level of pain felt could increase substantially if the UK government's economic forecasts are found to be overly optimistic in t...Read More
Sterling hits six-month high against the dollar
The UK currency today hit a six-month high against the US dollar on a mixture of an improved outlook for the UK economy, profits from HSBC and an appetite for risk among some investors. Sterling also hit a one-month high against the euro amid signs that the UK economy appears to be faring better than the European economy at this moment in time. The UK stock market has been very volatile over th...Read More
Loan Rates Rising
A report by the Moneyfacts website has found that 14 different lenders have actually increased the rates of interest on their loan packages over the last two months. Interestingly it seems as though Tesco and the AA have actually introduced tow rises during this period. So why are loan rates increasing as mortgage rates are falling?
There is a growing suspicion that many UK lender...
Which? advises on energy bills
Which? magazine has issued tips on how consumers can arm themselves with sufficient information to beat the recent spate of increases to energy bills. According to a recent study from the Energy Saving Trust, 82 per cent of consumers are unaware of which tariff they are on and admit to being confused over their energy bill. This lack of awareness is preventing them from comparing deals and potenti...Read More
Is health insurance set to become mandatory?
As we covered in our earlier article today it seems as though there is a move towards allowing patients to 'top up' their NHS treatment to pay for drugs which may not be readily available on the NHS. But is this a good move or the first step towards mandatory health insurance for everyone in the UK?
There has long been a feeling that health insurance will at some stage become manda...