UK motor insurance premiums increase yet again
The AA insurance has today commented upon the state of the UK motor insurance market with a suggestion that the average comprehensive motor insurance policy is now costing in excess of £1000 a year. This is an increase of around 20% on the 2008 figure and is predominantly because of fraudulent claims and the damage caused by uninsured drivers in the UK.
All in all it is believed that UK motorists will face an additional £2.1 billion in insurance costs this year alone purely and simply because of these fraudulent claims and uninsured drivers. Despite the fact that the recession is still impacting upon many people around the UK, and indeed some people are considering downgrading or even cancelling their car insurance, the cost of insuring your vehicle continues to climb higher and higher.
In what is certain to become something of a vicious circle, a 20% increase in motor insurance premiums will almost certainly see more people taking the risk of driving uninsured which will yet again feed into the cost of insurance premiums in the future. Quite why perfectly legal and insured drivers have to pick up the bill for those who have decided not to take out insurance, which is illegal, continues to remain a mystery to many in the UK.
Kit built houses set to make a comeback
While there was a trend towards Kit built houses in the 1980s this very soon disappeared as more and more UK consumers benefited from a growing economy and a move to more traditional housing. However the serious downturn in the UK property market has turned the limelight to cheaper less substantial housing in the form of kit built houses which appear to be back in favour.
nPower completes tough week for UK energy companies
UK power giant nPower was this week been effectively forced to agree a £63 million refund to customers who were overcharged due to a technical error back in 2007. It is believed that the company failed to inform customers in the correct manner with regards to price increases which has led to the record compensation bill which equates to around £35 per person affected by the issue. This is jus...Read More
Cost of botched home improvements up £6m
The cost of amending botched home maintenance work has surged in the last three months, it has been claimed. According to figures from the government advice agency Consumer Direct, the number of complaints it has dealt with over the last three months has dipped slightly from 19,335 to 19,075. However, the value of these complaints has surged by £6 million, forcing thousands of people to make cost...Read More
Labour government ministers attack banking bosses
In one of the most obvious cases of "locking the stable gate after the horse has bolted" the UK government has turned on the banking sector accusing directors of excessive bonuses and over rewarding themselves. However, if you take a step back 24 months you will see that the Labour government was very happy to cosy up to the UK banking sector when requiring funds to cover PFI projects and other go...Read More
Ernst & Young ITEM Club downbeat on UK
The influential Ernst & Young ITEN Club Report has cast doubt on the short to medium term prospects of growth in the UK economy. While this influential association freely admits that the UK is likely to have left the recession in the final quarter of 2009, it believes this trend will not continue because a number of tax innovations and incentives have been taken away from the marketplace. It speci...Read More