AXA rewards safe motorists
Financial giant AXA has revealed a new car insurance policy which will see those with eight or more years no claims bonus receiving a 90% discount on their premiums. This compares to the average discount of 65% on a maximum five-year no claims bonus and will obviously further benefit the vast majority of drivers in the UK who do not claim on their car insurance.
This comes at a time when the AA has confirmed that UK car insurance premiums will rise by between 10% and 15% in 2010 with the majority of the increase caused by uninsured drivers causing accidents on the road. It would appear that slowly but surely we are seeing a polarisation between safe drivers and dangerous (and uninsured drivers) with many other insurance companies certain to follow the lead set by AXA.
Car insurance premiums have been on an upward spiral for many years now with the cost of covering uninsured drivers taken on by the industry and then spread out amongst insured motorists. Whether or not this is a fair allocation of the added expense associated with uninsured drivers is debatable but it is a trend which began some time ago and has ultimately led to a massive increase in car insurance premiums for "no apparent reason".
£386 to watch a wedding
The average guest at a British wedding will spend a total of £386, with many people underestimating the amount they spend as it is spread out on gifts, outfits and pre-nuptial celebrations.According to CreditExpert website, stag and hen nights are the most expensive factor when attending a wedding, costing around £130 on average to celebrate the last night of freedom.Wedding gifts set guests bac...Read More
Does the UK government support splitting UK banks?
While Mervyn King's comments earlier in the week regarding a potential splitting of UK banks between risky and less risky operations received very short thrift from the UK government there is a feeling that forthcoming banking capital rules may well produce a similar scenario. Quite why the government and Mervyn King appear to be at so different ends of the spectrum is a mystery when evidently the...Read More
Reform think tank recommends 1 million public-sector jobs cuts
The Reform think tank has today issued a report which recommends that the UK government should reduce employment numbers within the public sector, specifically the NHS and the police, by 1 million in order to save £27 billion a year. The 15% reduction in headcount is a number which no political party is willing to commit to because ultimately it could be a significant vote loser as we approach th...Read More
Mervyn King Fires The First Warning Shots of Recession
Mervyn King, the governor of the Bank of England has fired the first warning shots that the UK is heading for a recession. In a very honest assessment of the UK economy he suggested that the country is in a worse situation than at any time since the Second World War. However there was more doom and gloom to follow....
In line with the views of many experts in the City he has confi...
Negative equity to hit 2 million by 2010
The housing crash in the UK is set to see literally millions of home owners plunged into negative equity over the next years with the figure expected to peak at 2 million in 2010. Figures released by a number of charities have confirmed that in excess of 60,000 homeowners are moving into negative equity each month a figure which has frightening repercussions for the mortgage default numbers.