Why shopping around for your car insurance is vital!
As we covered in one of our recent articles on motor insurance, the AA reported a 7.2% increase in average car insurance premiums in the final quarter of 2009. However, the annual increase in car insurance premiums is well into double digits and there is serious concern that motorists will be hit with higher and higher premiums in the short to medium term.
Many of us will have been with the same car insurance company for a number of years and ultimately there are thousands in the UK who will never have looked around. However, there are many comparison websites available which will indicate any potential savings you could make by taking your car insurance elsewhere. Even if your current insurance company turns out to be the most cost-effective for your situation then surely a quick look around the comparison websites will do you no harm?
The truth is that developments in the online arena now make it easier than ever before to check out a whole raft of different car insurance companies using one simple form. Gone are the days when individual e-mails and individual forms had to be completed, and in many cases you will have a summary of estimated car insurance premiums from different providers within a matter of seconds. Many people have made savings into the hundreds of pounds simply by looking around, so what do you have to lose?
Insurance claims flood in
Up to 8,600 insurance claims are estimated to have flooded in from anxious policyholders following yesterday's wet weather.After torrential rain and flooding plagued a number of areas across the UK, Abbey Home Insurance warned that the damage wrought by the freak conditions had come as a "shock" to many people.The insurer estimates that some 3,200 claims for flood damage were made yesterday alone....Read More
Young drivers lack basic car know-how
Young drivers fork out £140 million every year in car maintenance due to their lack of basic mechanical know-how, new research suggests.According to the study carried out by Direct Line, half of all drivers under 25 do not know how to jumpstart their car or replace a tyre, compared to 25 per cent of drivers aged 45 or over.Nearly one in three admitted to paying to have their oil changed, while 25...Read More
Insurance premiums set to rise as Lloyd's of London struggles
The announcement of a 50% reduction in Lloyd's of London profits from £3.9 billion to £1.9 billion seems like a significant drop but in the context of the current economic climate this is a more than credible result. However there are signs that general insurance premiums around the world are set to rise over the next 12 months.
A mixture of slowing economies around the world, wea...
Royal Bank Of Scotland Eases The Pressure For Insurance Division Sale
News that the Royal bank of Scotland (RBS) has sold off a highly controversial basket of leveraged debt arrangements valued on the books at £4 billion has eased the short term need to offload the insurance division at a below market value price. The division had been expected to bring in at least £7 billion but recently this figure was downgraded to between £5 billion and £7 billion.
Norwich Union disappears and Aviva takes over
While effectively the name of Norwich Union began to disappear many years ago, today marks a definitive point in the history of this well-known insurance company, which will disappear altogether. Having operated as a subsidiary of Aviva, the former CGNU insurance conglomerate, Norwich Union will be no more after today as the rebranding exercise reaches the end of the road.