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".
Is the government trying to wriggle out of Equitable Life compensation
While we reported early in the week about the ongoing situation regarding Equitable Life and the compensation which many customers have been chasing from the government, there are grave doubts emerging about the proposed compensation package. More and more observers are suggesting the government will drag its heels as long as possible and try to eliminate more and more customers from the compensat...Read More
Are People Skipping Home Insurance To Save Money?
As the economy grinds to a halt there are worrying signs that many homeowners across the UK are cutting back on their house insurance or cancelling their cover outright. More and more people are being pushed onto the poverty line and concerned how they are going to pay for the more basic items such as food and energy. Home insurance seems to be coming further and further down the list even thou...Read More
Millions risk insurance by using their car for work
As many as five million workers are risking invalidating their insurance by using their own cars for company business.According to insurance comparison site, Go Compare, these people are not properly insured, because most private car policies do not cover business when the driver is travelling anywhere other than their usual place of work, and each month, these workers are covering an average 188...Read More
Legal action launched over air passenger duty
Tour operators have launched "substantial" legal action over the government's air passenger duty (APD), claiming that the levy breaches international aviation agreements.APD, which ranges between £10 for European economy flights to £80 for business class long-haul flights, was doubled earlier this month following an announcement made in the chancellor Gordon Brown's pre-Budget report last Decemb...Read More
Don't soup up your sierra, kids
Younger drivers are always going to pay higher car insurance costs than older, more experienced drivers, but the British Insurers Brokers' Association (BIBA) says that souping up your car will just pump up your premium further.BIBA says it is advisable to buy a smaller, cheaper car, which is less likely to do major damage to other vehicles on the road should an accident occur, but although the tem...Read More