Is it time to review your car insurance?
If there is one area of the insurance market which continues to attract the wrath of UK consumers it has to be the car insurance sector. This is an area of the insurance market where premiums constantly seem to go higher and higher with legally insured drivers also paying the price, and the cost, of those who drive on the UK roads without insurance. So is it time to review your car insurance?
Many people do not realise but there is the potential to reduce your car insurance premiums simply by either increasing the excess or taking out an insurance policy which best suits your driving habits and your driving requirements. For example, if you drive less than 5,000 miles a year then you may well be able to have this written into your policy with reduced premiums. There are other areas which you can review which include the safe parking of your vehicle, the introduction of a car alarm and other similar measures which will reduce the risk to your insurance company and therefore, in theory, reduce your premiums.
Those who remain with the same insurance company year after year after year are potentially paying over the odds for what they actually require.
Insurance fraud costs the UK consumer
As the UK recession continues unabated, with sporadic signs of improvement, we have seen a massive increase in the number of fraudulent insurance claims in areas such as home insurance and car insurance to name but a few. This is a common pattern as and when the UK economy goes into recession and is something which the insurance companies have attempted to control and reduce over the years but hav...Read More
Have you got private health insurance?
As the long term future of the NHS is called into question, more and more people are now looking towards private health insurance for themselves and their families. This is an area of the insurance market which has grown enormously over the last 20 years as waiting lists continue to grow and the so-called "postcode lottery" of health care in the UK continues unabated.
Even though ma...
UK banks challenge PPI rules
The UK banking community, backed by the British Bankers Association, has applied to the High Court for a judicial review of the PPI rules, which were set to come in on 1 December. These are rules produced by the FSA (Financial Services Authority) in relation to payment protection insurance and more importantly an industry wide review of past arrangements even if there has been no complaint from th...Read More
Devastating floods could cost insurance industry over £100 million
The devastating floods in Cumbria and South Scotland could cost the UK insurance industry in excess of £100 million although this figure could rise significantly because the flooding has yet to subside. We have literally seen homes washed away in the flood water, vehicles left battered on the road site and indeed we have seen the unfortunate sight of casualties and fatalities during the floods....Read More
Royal Bank of Scotland joins UK asset protection scheme
Despite attempting to wriggle off the hook, which is the UK government's asset protection scheme, the Royal Bank of Scotland has been forced to sign up and confirmed that this happened on 26 November. While there's no doubt that the scheme will protect the company's assets in the short to medium term, like Lloyds bank, the company had been attempting to negotiate an exit rather than pay the multib...Read More