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.
Financial Ombudsman reports record number of complaints
Complaints to financial institutions rose to the highest recorded level over the course of the last year, after a 92pc rise on the previous year. The Financial Ombudsman Service (FOS) reported that claims for the mis-selling of payment protection insurance (PPI) accounted for the vast majority of the complaints, a total of 74pc. However there were rises in complaints in most areas, and more rec...Read More
Less than a Quarter of Families have Income Protection
A study from Scottish Widows has revealed that more than three-quarters of families in the UK with children under 16 are without income protection, up from 69 per cent in 2013. This further highlights the increasing protection gap, and is based on the results of a major survey with more than 5,000 respondents. On top of this, over half of those who have children admitted that their savings wou...Read More
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
Royal Bank of Scotland on the verge of Direct Line sale
Despite the fact that Royal Bank of Scotland had initially wanted to sell its Direct Line insurance division in 2012 via an IPO it is believed the company is on the verge of announcing a trade sale very soon. There is speculation that figures such as Warren Buffett, the investment guru, have already stepped forward to show their interest in what is a quality operation. It seems rather strange t...Read More
Level term life assurance is seen as a ‘safe’ option. When you take out the policy you agree a term length with the insurance provider, as well as an amount you wish to have paid to your estate in the event that you die during the agreed term. In a sense it is a type of insurance you never want a payout from, but it also an extremely useful and simple way of providing your family with future f...Read More