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".
PPI claims management firms take 25% of pay outs
24/02/2016 Claims management firms that specialise in payment protection insurance (PPI) claims took almost a quarter of consumer’s compensation, between April 2011 and November 2015. During this time period, banks and financial organisations have paid out around £22.2bn in compensation to 12 million customers who were mis-sold PPI. However, the National Audit Office (NAO) has said th...Read More
Is the national insurance increase a tax on jobs?
As the debate regarding the Labour government's proposed 1% increase in national insurance, and the conservative party's partial reduction, rages on there is a growing feeling that the increase is actually a tax on jobs. Indeed the Conservative party has today issued a number of additional costs which UK taxpayers will incur if the national insurance rise was to go through. So how would the increa...Read More
Homeowners urged to carry out 'winter property checks'
General upkeep and maintenance of property is especially important in winter, homeowners have been warned. Legal & General (L&G) suggested that the value of houses makes it financial sense as well as common sense to keep a house in a good state of repair. Insurers could penalise or dismiss claims if a house has not been looked after. Elaine Parkes, head of technical services at L&G's general insu...Read More
Weather Insurance Comes To The Holiday Trade
While there is very little that you can do about bad weather, even if you choose some of the sunniest areas in the world, there may be light at the end of the tunnel for UK holiday makers. Ex-Google employee David Friedberg has created a new company by the name of WeatherBill which works with travel agents to offer weather insurance cover for their customers.
The company has just s...