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.
Is the NHS under threat?
The NHS is the hot topic of the moment after two Tory MPs criticised the setup of the UK NHS system compared to the US health care regime. This has caused great embarrassment for David Cameron, leader of the Conservative party, and opened a debate which could play a significant role in the forthcoming general election. It is a debate which the Labour Party will use to try and overshadow everything...Read More
Homeowners advised to get accidental damage cover
Homeowners are being told to get accidental damage cover when taking out a home insurance policy if they are considering carrying out any DIY projects.According to the British Insurance Brokers' Association (Biba), people who are undertaking DIY projects need to ensure that they are covered for accidental damage on their home insurance policy so as to protect them in the event that they have an ac...Read More
Simple ways to save money : Insurance premiums
The average home in the UK is likely to have a number of insurance policies in place including home insurance and car insurance to name but two. It is also well known that the vast majority of people throughout the UK tend to pay their premiums monthly rather than one-off payments at the start of every year. However, while there are upsides to paying monthly premiums there are also significant dow...Read More
Government scheme could cut car insurance costs
The government is mulling plans which could see motorists benefit from cheaper car insurance through signing up for courses to improve their skills behind the wheel. Under the terms of the new plan, those who take advanced driving courses could cut the cost of insuring their car by around 25 per cent. However, young drivers will benefit from even marked reductions, with the Telegraph claiming that...Read More
'Life insurance is vital for the self-employed'
Life insurance is crucial for those who are self-employed and those who are considering going into business for themselves, life insurance expert has claimed. According to Nick Kirwan of the Association of British Insurers (ABI), Britons are "hugely underinsured for life cover" with up to one in three people having no life insurance. The ABI also estimates that a further one in three have failed t...Read More