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".
Car insurance premiums increase by 40%
A report by the AA has confirmed a massive increase in car insurance premiums in the UK over the last 12 months. The report shows that comprehensive car cover has increased in cost by 11.5% over the last 12 months although there has been a massive 57% increase in the cost of premiums for third party, fire and theft arrangements. Younger drivers are bearing the brunt as you might expect although th...Read More
Banking bailout cost every family £4350
It has been revealed that the ongoing bank bailout in the UK will cost each and every family in the country an additional £4350 in future tax liabilities. Despite the fact that the UK government was applauding itself after yesterday's banking breakup announcement it was revealed today that the UK taxpayer would be injecting a further £30 billion into Lloyds bank (£5 billion) and Royal Bank of S...Read More
British Airways Price Fixing Case Set For Court
It has been announced that the Office of Fair Trade (OFT) is set to charge four former British Airways executives for their part in an alleged plot to fix fuel surcharges with Virgin Atlantic between 2004 and 2006. The case has been ongoing for some time and while the company itself has been fined hundreds of millions of pounds by UK and US authorities the prosecution of the four alleged accompli...Read More
Mortgage repayments continue to increase
For the sixth quarter in a row homeowners in the UK have repaid more mortgage debt than they have borrowed which is an indication that perhaps many are now looking to manage their debt through this short term turbulent period. As we mentioned in one of our articles yesterday, net mortgage repayments in the UK reached £4.9 billion in the third quarter of 2009 and there are expectations that this t...Read More
March sees house prices up 6.7 per cent
House prices in England and Wales increased by an average of 6.7 per cent in March compared to one year ago, the sharpest rise in almost four years.Research from Hometrack found that average house costs increased by 0.8 per cent in March after a 0.7 per cent rise in February, boosting the overall inflation of homes. However house prices in London grew by 1.8 per cent in March, the sharpest monthly...Read More