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".
Insurance cancellations rise due to recession
The Association of British Insurers has revealed startling figures which show that many people in the UK are looking towards their insurance policies as a means of saving money. It was revealed that 22% have either cancelled or not renewed their home contents insurance over the last 12 months purely as a means of reducing their outgoings. A further 17% no longer have building insurance which is an...Read More
UK Insurers Delay Introduction Of Genetic Testing
While the subject of genetic testing has been at the forefront of the British insurance industry for many years, the industry spokesperson, the Associations of British Insurers, has announced plans for a further freeze until 2014. Under the freeze, consumers will still be able to take out insurance cover without disclosing the results of any genetic tests which they may have had carried out.
Firms accused of mis-selling PPIs
Consumers are being 'tricked' into buying expensive payment protection insurance (PPI) when taking out a personal loan over the phone or the internet, according to a new report.PPI provides financial cover for people who find themselves unable to work through injury or ill-health.Consumer group Which? has today accused providers of mis-selling when they add PPI as a common business practice during...Read More
Car insurance premiums increase by 40%
A report by the AA has confirmed a massive increase in car insurance premiums in the UK over the last 12 months. The report shows that comprehensive car cover has increased in cost by 11.5% over the last 12 months although there has been a massive 57% increase in the cost of premiums for third party, fire and theft arrangements. Younger drivers are bearing the brunt as you might expect although th...Read More
One size travel insurance policies not a good fit for cancer sufferers
Travel insurance policies are designed on a "one-size fits all" basis, but this is not always the case, particularly for those with health problems.Travellers who have a pre-existing medical condition, or those who have been diagnosed with cancer often find it difficult to get travel insurance - research carried out by the charity Cancerbackup found that as many as 70 per cent of sufferers who tri...Read More