Why shopping around for your car insurance is vital!
As we covered in one of our recent articles on motor insurance, the AA reported a 7.2% increase in average car insurance premiums in the final quarter of 2009. However, the annual increase in car insurance premiums is well into double digits and there is serious concern that motorists will be hit with higher and higher premiums in the short to medium term.
Many of us will have been with the same car insurance company for a number of years and ultimately there are thousands in the UK who will never have looked around. However, there are many comparison websites available which will indicate any potential savings you could make by taking your car insurance elsewhere. Even if your current insurance company turns out to be the most cost-effective for your situation then surely a quick look around the comparison websites will do you no harm?
The truth is that developments in the online arena now make it easier than ever before to check out a whole raft of different car insurance companies using one simple form. Gone are the days when individual e-mails and individual forms had to be completed, and in many cases you will have a summary of estimated car insurance premiums from different providers within a matter of seconds. Many people have made savings into the hundreds of pounds simply by looking around, so what do you have to lose?
Is ID theft insurance worth the money?
There is a growing debate within the financial sector with regards to ID theft insurance and whether it is required and whether it gives value for money. Currently many credit cards companies and banks will offer ID theft insurance as part of an overall financial package but you need to be aware of the small print and exactly what you're covered for. At this point in time, as long as there is n...Read More
EU Gender Directive: will Women pay more?
From 21 December 2012 insurers will no longer be able to use gender as a contributing factor when calculating insurance premiums. Typically, women have had access to cheaper premiums for policies such as life and car insurance, because they are considered to be lower risk. However a ruling from the European Union recently has banned insurers from using gender as a factor when calculating premiu...Read More
Car insurance market set for overhaul
24/09/2014 The car insurance market is set for an overhaul, following an investigation by the Competition and Markets Authority (CMA). One the major changes will be a ban on exclusive pricing deals between insurers and price comparison websites. The CMA said that these exclusive pricing deals meant that insurers could not make their products cheaper through other channels, such as alterna...Read More
KPMG Slated Over Fall of Independent Insurance
Led by the enigmatic Michael Bright, Independent Insurance was one of the darlings of the City for many years, producing figures which not only seemed to go against market trends, but seemed just too good to be true. Ultimately this proved to be the case with the company suddenly collapsing in 2000 with the loss of hundreds of jobs.
As well as the job losses, the Financial Services...
Insurers forced to be clearer over premiums
10/07/2014 Insurance companies will soon be expected to provide clearer information on renewal quotes, as the Financial Conduct Authority (FCA) prepares to draw up new rules for the industry. The new regulations are likely to include measures to force insurance companies to provide extra details when a customer comes to renew their policy. It’s claimed that customers will now have to b...Read More