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".
Is the Royal Bank of Scotland set to be nationalised?
There are fears this evening that the UK government will need to nationalise the Royal Bank of Scotland after the share price collapse. Despite the government increasing its stake to 70% and promising to keep the business afloat via various guarantees it would appear that UK investors are not willing to give the company the benefit of the doubt. Despite receiving £32 billion of taxpayer's money o...Read More
Homeowners advised to guard gardens
Homeowners need to review their garden security as summer fast approaches, Sainsbury's Bank has advised.Research from the financial services provider has revealed that summer sees an increase in the number of home insurance claims for stolen garden items.The average home insurance claim for garden theft is £291, with opportunistic thieves targeting furniture and expensive toys. Neil Laird, Sainsb...Read More
Consumers warned about insurance policy administration fees
A survey by the Which? magazine has today highlighted administration fees being charged by some car insurance and home insurance companies which can be as high as £55 for relatively minor alterations. The report suggests that while some alterations to insurance policies, or insurance records, may see insurance underwriters themselves passing on small fees, this is not always the case. The advi...Read More
UK insurance companies take a hit
Lloyd's of London has today confirmed that a number of natural disasters as well as the BP oil rig debacle in the Gulf of Mexico have resulted in significant losses for insurers around the world. UK insurance companies have taken their fair share of multimillion pound hits over the last 12 months although many believe that ultimately an increase in regulations and the need to tighten current insur...Read More
Tracing that old insurance policy could prove worthwhile
It is no secret that hundreds of millions of pounds of unclaimed insurance policies are locked away in the vaults of many insurance companies in the UK. These are policies which have yet to be claimed with the underlying customers having lost contact, moved away or possibly died. When you consider the figures involved it is no surprise that locating old insurance policies has become something of a...Read More