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?
Warning on insurance fraud
People who may be tempted to inflate their insurance claims have been warned that the industry is getting better at catching insurance fraudsters.The Association of British Insurers (ABI) has revealed that the insurance industry is uncovering £1.3 million worth of fraudulent claims every day, which is three times as much as in 2003.And the ABI believes that much of this is down to improved detect...Read More
Lloyd's Of London announces 50% reduction in profits
Lloyd's Of London, the central insurance market of the world, has today announced profits of £1.9 billion in 2008 against £3.9 billion just 12 months earlier. A number of factors have to be taken into account including reduced investment returns, a number of significant major catastrophes as well as currency movements. All in all, when considering the very difficult scenario around the world thi...Read More
Bonfire night can cost uninsured millions
Bonfire night could cost those without insurance as much £780 million in damage, recent research by AA Home Insurance has indicated. According to the AA, as Brits increasingly spend more time and money on their gardens, the combined value of outdoor property in the UK is now estimated to be worth as much as £5.7 billion, but as many as a quarter (23 per cent) of people in the UK say none of the...Read More
Upwards of 200,000 young drivers are driving without insurance
A report by the Motor Insurers Bureau (MIB) has revealed that upwards of 240,000 young drivers aged between 17 and 20 are driving on UK roads without insurance. At a time when UK motor premiums continue to rise there is no doubt that there has been a significant increase in the number of uninsured drivers on UK roads and this figure is set to rise as the recession grabs hold.
Quinn Insurance still under pressure
Despite the fact that the regulator has performed something of a partial U-turn and will now allow Quinn Insurance, the troubled Irish insurance company, to partially re-enter the UK insurance market there are fears regarding those employed by the company. It seems inevitable there will be job cuts and this figure could be as high as 1,000 jobs if as expected the company is banned from further inv...Read More