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".
Check your insurance, Brits driving to Ireland are advised
Despite the travellers from the UK are able to drive freely in the Republic of Ireland using a British driving license, those heading across the Irish Sea with their cars should check the content of their motor insurance policies before travelling, one provider has advised.AA Ireland spokesman Thomas Brosnan has reminded motorists to check the extent of their cover before heading to the country.Wh...Read More
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...Read More
UK Insurers Delay Introduction Of Genetic Testing
While the subject of genetic testing has been at the forefront of the British insurance industry for many years, the industry spokesperson, the Associations of British Insurers, has announced plans for a further freeze until 2014. Under the freeze, consumers will still be able to take out insurance cover without disclosing the results of any genetic tests which they may have had carried out.
Osborne could merge income tax and national insurance
30/06/2014 Chancellor George Osborne could announce plans to merge income tax and national insurance (NI) into a single payment if they are re-elected in the next general election. The plan was first suggested by the Office of Tax simplification in March 2011, however, consultation on tax reform has so far been pushed back due to the complexity of integrating the two separate systems. The...Read More
Aviva policyholders set for £500 million payout
In February last year Aviva, the UK insurance giant, offered to pay out £1 billion to policyholders who agreed to give up their future rights to a share of the company's orphan fund. The fund in question was valued at £4.2 billion in February 2008 although it has since fallen to a value of £1.2 billion. Due to a legal challenge by a number of policyholders, the original scheme was put on hold a...Read More