Should there be more regulation of the UK insurance market?
If there is one area of household expenses which attract controversy and complaints it has to be insurance, with car insurance one which is always to the forefront. More and more people in the UK are now claiming that despite having a clean driving licence and a no-claims bonus they continue to see significations and ongoing increases in their premiums. Should there be more regulation of the UK car insurance market especially?
It can sometimes be very difficult to understand how the insurance market works and indeed how the car insurance sector in particular operates. We hear news that legal drivers are made to pay the cost of illegal drivers in the UK with many of those even convicted escaping with relatively small fines. The insurance sector is in something of a no-win situation because the ever-growing increase in legal fees, to prosecute illegal drivers, is often borne by motorists who are fully covered by their insurance but if the insurance companies refuse to prosecute uninsured drivers what example does this give for the future?
Many in the UK believe that the courts should be tougher on uninsured drivers which would ultimately reduce the numbers and reduce the cost of prosecutions for the insurance industry as a whole.
Insuring your home office
As more and more people in the UK are attracted by the idea of working from home, whether working for themselves or an employer, there are many potential pitfalls and considerations to take into account. Aside from the fact that you will need quiet, clear space to work from there is also the need to ensure that your business equipment and business records are not only secure but well insured.
A critical illness plan pays out a lump sum if you are diagnosed with any of the policy's specified critical illnesses, but survive for a period of time after diagnosis (normally 28 days). The lump sum you get could be used to pay for things like nursing care, home-help or adapting your house to accommodate a disability. It could also pay off your mortgage or pay for a holiday to help you recov...Read More
Is pet insurance a luxury or a necessity?
The UK has long been renowned as a lover of animals with dogs and cats the more popular family pets. As a consequence the last decade has seen a substantial increase in the pet insurance market at a time when veterinary costs continue to rise at a faster rate than many people's income. However there is some confusion as to whether pet insurance is actually a luxury or a necessity for pet owners of...Read More
Hated hand-me downs worth £50 million
Brits are hoarding hated hand-me-downs and inherited items worth a whopping £50 million, according to home insurance provider Abbey. Some 12 per cent of people admit to living in homes cluttered up by inherited items, with the average person owning 12 such items, worth an estimated £9,466 per person. Over half (53 per cent) hide the heirlooms around the house, while one-in-five (20 per cent) s...Read More
Country residents 'not saving or taking out life insurance'
Many rural residents are not putting money aside in savings, insurer NFU Mutual has claimed.Research from the firm found that just 25 per cent of country dwellers are saving - while, by contrast, 20 per cent are spending more than they earn each month.This could lock the residents into a debt spiral, with the big spenders finding themselves unable to meet credit repayments.Moreover, 44 per cent sa...Read More