Is it time to review your car insurance?
If there is one area of the insurance market which continues to attract the wrath of UK consumers it has to be the car insurance sector. This is an area of the insurance market where premiums constantly seem to go higher and higher with legally insured drivers also paying the price, and the cost, of those who drive on the UK roads without insurance. So is it time to review your car insurance?
Many people do not realise but there is the potential to reduce your car insurance premiums simply by either increasing the excess or taking out an insurance policy which best suits your driving habits and your driving requirements. For example, if you drive less than 5,000 miles a year then you may well be able to have this written into your policy with reduced premiums. There are other areas which you can review which include the safe parking of your vehicle, the introduction of a car alarm and other similar measures which will reduce the risk to your insurance company and therefore, in theory, reduce your premiums.
Those who remain with the same insurance company year after year after year are potentially paying over the odds for what they actually require.
Irish authorities place Quinn Insurance into administration
The Irish financial regulatory authorities have today placed Quinn Insurance Ltd, one of Ireland's largest insurance companies, into administration amid unclear matters which have come to light after an investigation of the company. However, the company, founded by one of Ireland's richest investors Sean Quinn, believes it could have corrected the mystery issues without being placed into administr...Read More
Homeowners warned over Easter DIY mishaps
Homeowners have been advised to check their home insurance policy before undertaking any DIY this Easter weekend or risk ending up out of pocket in the event of a mishap. Home insurance provider Allianz Insurance predicts that this Easter the collective bill for damage caused by DIY accidents could reach as high as £25 million. In the event that they are not comprehensively ensured for such event...Read More
Christmas comes early for some Norwich Union customers
UK insurance giant Norwich Union has this evening confirmed plans to return up to £40 million of unclaimed life and pension policy assets to over 40,000 customers. The move has received widespread approval as some of these unclaimed policies date back to the 1950s. The company is currently handing back over £1 million a month to customers who have either changed address or disappeared off the ra...Read More
LV Fined £840,000 For Miss-Selling Insurance Policies
Liverpool Victoria is one of the oldest insurance companies in the UK market but a near perfect copy book has been blotted somewhat with news that the group has been fined £840,000 by the Financial Services Authority. The fine is a huge blow to the company which has long been regarded as one of the more customer friendly insurance companies.
The fine relates to the sale of persona...