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".
Brits urged to take action over mis-sold PPI
Britons who suspect that they have been mis-sold payment protection insurance (PPI) should act now to claim compensation, a consumer magazine has advised. According to new research conducted by Which?, over the last five years up to two million people who have been sold the cover are likely to find they will not be able to make a claim. This is because they fall foul of exclusions stipulated withi...Read More
Tree subsidence danger highlighted
Homeowners are being warned about the potential subsidence dangers caused by planting trees too close to their homes.According to Halifax Home Insurance, planting trees too close to homes accounts for the majority of subsidence claims dealt with by insurers.In extreme cases, subsidence can cause major structural damage to homes, however paying special attention to the trees and vegetation around a...Read More
Car insurance trips to bring down driving costs
With the recent rise in the price of petrol keeping the cost of driving high, motorists have been advised to look for savings elsewhere, with a review of their car insurance policies likely to save them money.According to a survey undertaken by American Express, just 57 per cent of drivers have shopped around to find the best car insurance deal, despite the fact that one in five claimed that risin...Read More
BCC demands increase in VAT not national insurance
The British Chamber of Commerce (BCC) has today pleaded with the UK government to increase VAT to 18.5% instead of increasing the rate of national insurance contributions. Figures from the BCC suggest that the scrapping of next year's national insurance contribution increase would benefit businesses by £5.1 billion while an increase of just 1% in the rate of VAT would bring in around £4.5 billio...Read More
FSA confirms 3 million payment protection insurance plans under review
The Financial Services Authority (FSA) has today confirmed that around 3 million people may well be eligible for compensation payments which could top £2 billion over the alleged mis-selling of payment protection insurance (PPI). So far the authorities have received in excess of 100,000 complaints regarding PPI and there are many more expected in the short to medium term. The authorities have...Read More