Posts Tagged ‘car insurance’
Friday, April 22nd, 2011
With cars having always been a generally expensive commodity anyway, the economic downturn has really seen drivers suffer. The last few years have also seen the price of pretty much everything grow, not only has car insurance risen over the last year, having increased at a rate of 40 pence per day, but we have seen a significant increase in the price of fuel as well, paying an average of 15.8p per litre more than we were only a year ago. But why?
It’s likely that you will have heard about the European Court of Justice’s new ruling that sex discrimination is no longer an acceptable means of calculating the cost of insurance, which is going to have a significant impact on the insurance industry practice and premiums across the board – especially when it comes to car insurance.
Women are set to pay an average of 25 per-cent more than they do now, and men seeing an average 10 per-cent reduction on their insurance, it’s more important than ever to make sure you find the most competitive insurance company in business.
When it comes to companies like car insurance comparison websites like moneysupermarket.com, they can provide help and info about any price hikes in the industry by using their car insurance comparison tool – the great thing about it is that you just have to enter your details once and they do all the searching and hard work for you by obtaining quotes from over 50 car insurance companies, relieving you of that arduous task of obtaining quotes from lots of different companies. When the time comes for you to renew your policy then – there’s absolutely no excuse for just remaining with your current insurer and paying the hefty price.
Peter Harrison, an insurance expert for the comparison site, believes that we’re an apathetic nation when shopping around for car insurance: “Insurers count on customer apathy to reap the profits, so it is alarming so many motorists are prepared to waste their hard-earned cash by not looking for a better deal”. MoneySuperMarket estimates the UK’s 6.3 million drivers lose around 1.7bn per year collectively because consumers don’t shop around for their car insurance.
Another contributing factor to the rising cost of our car insurance is the problem of uninsured driver accidents. The British Insurance Brokers’ Association (BIBA), who has itself been lobbying for a regulatory system since 2004, calculates that it costs policyholders an average of 30 a year, and that 160 are killed and 22,000 injured every year, all at the hands of uninsured drivers.
Additionally, the UK has one of the worst records in Europe for uninsured driving, according to the MID. An estimated 1 in 20 cars on the road is driven either completely without or incorrect (and therefore invalid) insurance, costing the nation’s drivers an incredible 500m per year.
Fortunately, though, a new Act aiming to deal with the problem is due to come into effect in April 2011. The Continuous Insurance Enforcement Act will mean that cars may no longer be owned without either registering their vehicles with a Statutory Off Road Notice (SORN) or insuring them. This means that even those owners whose vehicle remains physically off the road on the drive or in the garage (even if it’s jacked up on bricks and without vital components), will be breaking the law if they haven’t either insured it or applied for a SORN.
While the Act has been welcomed by many, concerns that it doesn’t quite go far enough have been voiced by some. Direct Line’s Andy Goldby, director of motor underwriting for example has commented: “We welcome this initiative, but with uninsured drivers costing British society around 500m each year, the severity of penalties must act as a deterrent to those considering driving without insurance.”
After all, what’s the point of imposing a 300 fine to someone who would otherwise have had to pay over 2,000 for their insurance in the first place? It remains to be seen, then, whether or not this act will have a positive effect on the cost of our car insurance.
Another big cost incurred by car insurance policyholders is that generated by accident claims and the growing personal injury lawyer business.
Insurers claim they are paying out more than they are taking in, with a survey carried out by industry experts EMB and actuarial consultancy revealing that in 2009, for every 1 the retail motor industry received in premiums, it had to pay out 1.20 in costs and claims, making 2009 one of the industry’s most costly years on record.
A different report, again from EMB, presented to the Commons Transport Select Committee in 2010, said: “Over 40 per cent of personal injury lawyers pay referral fees to receive work from insurers or claims management firms. Fees range from 200 to 1,000 per referral.”
The report also posited: “In our view, the biggest single factor driving price increases is the burgeoning cost of bodily injury claims… We estimate that twenty years ago bodily injury claims accounted for around 20 per cent of UK motor insurance claims costs. In 2010 we now estimate that proportion to be 50 per cent.”
Data shows that 341,592 people were killed or injured in 1989, compared with 222,146 people who were killed or injured on Britain’s roads in 2009, highlighting that the increase in costs just doesn’t add up.
The Jackson Report, published in January 2011, found that personal injury claims now account for an astonishing 50 per cent of the cost of our car insurance premiums. Insurance premiums increased by 40 per cent in 2010 and are set to see a further increase of 20 per cent in the year ahead.
So now, more than ever, it’s essential that you make sure your insurance provider is giving you the best value on the market.
For additional info about young drivers insurance at moneysupermarket.com, head over to their website now!
Tags: car, car insurance, crashes, insurance, insurance premiums, law, men, premiums, women
Posted in insurance premiums | 1 Comment »
Friday, April 15th, 2011
What does it mean for men and women across the UK with the ECJ’s historic ban on gender discrimination in the insurance industry? Britain’s insurance industry now has the colossal task of completely changing the way it works.
The case challenges the EU Gender Directive’s Article 5 and is brought about by the Belgium Consumers Association. The article in question allows insurers to charge men and women differently based on their sex where it is a “relevant and accurate actuarial and statistical data” and “determining factor” in risk assessment.
This change has been given a lot of media attention as this evening-out of the playing field means that the cost of car insurance policies will significantly increase for women and decrease for men. But what about the rest of Britain’s insurance industry?
With statistical evidence having shown concretely over the years that women are safer drivers than men, the ruling has been met with a great deal of trepidation.
As of the end of 2012, insurers will no longer be allowed to evaluate risk based on a person’s sex, and as a result, premiums for women are expected to rise greatly, while premiums for men are set to reduce.
However, it’s not all good news when it comes to insurance for men. The ruling applies not only to car insurance but across the entire insurance industry, so the ruling will carry some negative implications for them, too.
Annuities
An annuity is usually bought with a pension fund when a person approaches retirement, and with this they are guaranteed an income for life.
Data such as gender, age and health are all used to decide the annual income they can buy with their retirement pot – estimating how long they are likely to live.
According to statistics, women usually live longer than men, and have always generally been offered lower annuity payouts than a men with exactly the same pension fund.
However, the new ruling has changed all this, and will inevitably see men paying more. The Association of British Insurers (ABI) estimates that men approaching retirement will see an 8% decrease in annuity rates, while women will benefit from an increase of about 6%.
In addition, joint annuities, usually purchased by men, are also set to see a price increase, so women who rely on their husband’s pension fund will also suffer a lower retirement income.
George Ladds, head of pensions at Fair Investment Company, has warned that if annuities are to continue to be attractive, the industry will have to rethink how it prices annuities: “Either rates for men and women will be brought in line to create ‘unisex’ annuity rate, which will probably see men’s rates go down more than women’s go up – or annuity providers will have to start looking at each case individually, which is more expensive, and that cost will be passed onto the consumer.” He added: “Either way, the consumer loses out on both choice and value. Annuity rates are already low, and this could be the excuse providers need to pull them even lower.”
Life insurance
Men are more likely to die earlier than women according to statistics, paying higher premiums than women for their life insurance.
The ABI assesses that women will see their premiums rise by as much as a 20%, while men will see an estimated 10% fall on the cost of their cover.
ABI’s acting director general, Maggie Craig, warned women not to reconsider buying cover that they need. “Not all customers will be equally affected as the use of gender can vary significantly between products and different companies. Each company will have to respond to the ban in the way they feel is in their customers’ interests.”
Health insurance
Health insurances such as payment protection policies and critical illness cover, unlike life insurance, cost men less, because statistics say that they’re less likely to suffer illness and claim. This will not be the case, as of December 2012.
Car insurance
The AA and the British Insurance Brokers’ Association both approximate that this will see women paying around one quarter more than they currently do for their car insurance, while younger female drivers will see an even bigger increase.
Describing the ruling as “flying in the face of common sense”, insurance group RSA argued: “It is completely disadvantageous to the very people it was intended to protect and prevents insurers from using a legitimate rating factor.”
MoneySupermarket have more top insurance tips including a list of the top MoneySupermarket.com short term car insurance deals.
Tags: car, car insurance, crashes, financial, insurance, insurance premiums, law, men, premiums, women
Posted in insurance premiums | 1 Comment »
Thursday, April 14th, 2011
Insurance coverage is a legal requirement for owning a vehicle. However car insurance in London should not just be about doing the minimum that is required. It should also mean you have enough coverage in the event of any problems with your vehicle. Comparing different deals will help you get the best possible deal.
Basic coverage usually means covering your repairs in the event of an accident. This means that you will not have to pay for a new vehicle. However you may want additional coverage for other reasons.
The type of coverage you can get may be more expensive if you are part of a certain group. Men are more expensive to cover than women and younger drivers are more expensive to cover than older drivers. There are several reasons for this and they are all to do with risk.
By contrast another area will have fewer claims and may have fewer claims that will be less expensive. This will mean that premiums in this area will be a lot cheaper. These areas will vary which is why it is worth comparing prices in your local area.
This is why it is important to carefully compare different prices and quotes. It is important to compare like with like. A lot of comparison sites have tables where you can see what coverage is included in every quote. Some also have sliders that show you how much cheaper the quotes can be with a voluntary excess.
A voluntary excess is also known as a deductible. If you agree to one this means that you will pay repair costs up to a certain amount. While this can be a risk in the short term in the long term it can save you a lot of money. When looking at policies make sure you can afford any repair costs you will be liable for.
Discounts can include being part of a Neighbourhood Watch area or having the right security systems on your vehicle. Another factor can be the area you live. If a company has had a large amount of claims in your local area then the price is likely to be considerably higher than an area that has not had the same amount of claims. Calling up is also a good way of noting the level of customer service that a company offers.
Home Insurance Waterloo quotes can help save you money. You should find price comparison sites with clear tables that show the coverage you are getting. Ideally you should get at least three quotes for the best possible price. Once you have three quotes you should get an idea of an average price and negotiate for the best deal.
Canada’s largest independent insurance brokerage firm delivering Car Insurance Cambridge to your community and around the world.
Tags: business, car insurance, family, finance, financial planning, financial services, home, home insurance, insurance premiums, loans, personal insurance, premiums
Posted in insurance premiums | 1 Comment »
Wednesday, March 30th, 2011
Most likely, the most expensive purchase you will ever make during the course of your life is your house. Home insurance Cambridge is there for you when you need to make sure your investment is protected. Making sure that you have the best coverage will ensure that you won’t be left stranded if tragedy strikes.
You can contact a builder to get an idea of the value of your house. It is important to know how much your house is worth before you insure it. Home insurance Waterloo can help you once you do know the value of your house. Get an estimate so that you can pass on the information to them.
There are ways for you to price shop and find great rates. Many people have been able to save tremendous amounts of money by doing a little investigative homework. Make sure that the company you go through can also offer great service. It won’t do any good to get a low price with a company that offers poor service and is slow to process claims.
You can call an agent to talk about coverage and the different policies that are available. There are a lot of individuals that end up paying way more money than they have to. Asking about discounts that you might qualify for or looking into special rates could end up saving you some extra cash. In this economy, many people are open to the idea of saving money.
Should you ever need to file a claim, make sure that you do your homework and be prepared when the time comes. You don’t want to find out any surprises or discover that you missed something. Look over your policy and make sure that you understand everything that you are covered for. Your investment is too great to risk the chance of not having the right kind of coverage.
Being prepared will get a lot further in the event that a claim has to be filed. Anytime something is stolen, broken, or missing, it can make the process go a lot smoother if you already have an idea of the items that are covered in your policy. Do your homework and be prepared so you can file quickly if need be.
There are many factors that will determine the rate that you end up paying. Everything from whether you are married, to your home’s location, to your career choice can play a role in the overall cost. Car insurance Cambridge can help you find amazing savings and rates that will make it worth the research. It’s always recommended that you shop around to find great rates.
Home Car Insurance Kitchener can offer you low rates and great service. Wise shoppers realize that doing some pricing and a little bit of research can pay off greatly. Don’t just settle for the first price or company you stumble upon. Do your homework and search out great rates. You will be happy you did so when you find a great company at a great price.
Canada’s largest independent insurance brokerage firm delivering Home Insurance Cambridge to your community and around the world.
Tags: business, car insurance, family, finance, financial planning, financial services, home, home insurance, insurance premiums, loans, personal insurance, premiums
Posted in insurance premiums | 1 Comment »
Wednesday, March 30th, 2011
Finding good car insurance London should be a priority for anybody who seeks to protect themselves from unprecedented accidents and financial loss. It is a major step in terms of protecting your well being and being able to recover from the occurrence of an insured risk, and this ensures that we pick up off from where our lives left off. It is also important as it can cover your employees who are out there using the vehicles for the purposes of the business.
Getting car insurance protects anybody driving your vehicle. The condition is that they must be of age and have to be licensed by law to drive the car. Insurance companies normally do not pay for damages caused as a result of an unlicensed driver or one who is not of proper age. So it is important that you know who is driving your vehicle and that they have authorization from you to do so.
Business car insurance London is a unique policy that covers all the vehicles owned by an organization. This engulfs cars owned by the employees of the organization used for the intentions of the business as well as leased out vehicles. This unique cover ensures that you protect your employees in the line of business and is an ethical business practice.
Contracts of this type protect employees against any claims of responsibility in case of physical or property damages as a result of driving the insured car. They also provide protection against payments of damages on the insured car when accidents end up occurring.
For the business cars, make sure you know who is behind the wheel at all times. Each relevant employee should be assigned to their car of which they have to be responsible for. For leased vehicles, the signatory of the car is responsible for any damages and financial loss.
It is also of importance for a car owner to get coverage for any possible harm or injury done to you as a result of an accident. This goes a long way in caring for your own protection as well as recovering any financial losses you may incur. This coverage can be acquired irregardless of whether the person responsible for the accident has an insurance cover or has a less coverage of liabilities than you.
At this point, it is important to note that getting business car insurance is not so different from personal vehicle coverage in terms of requesting for quotes. This small variation means that the available offers for a car owner are numerous and so it is important to compare the services of different car insurance companies so as to pick on the best rates. After all, getting the best price estimates and saving some money should be a priority to anybody.
Getting car insurance London is a tremendous step towards protecting yourself and anybody else who drives your car. Business car insurance or Home Insurance Waterloo will protect your employees and give them morale to conduct their day to day duties in confidence and ensure the continuity of our lives by putting us back in our financial positions when the risk of an accident matures.
Canada’s largest independent insurance brokerage firm delivering Car Insurance Cambridge to your community and around the world.
Tags: business, car insurance, family, finance, financial planning, financial services, home, home insurance, insurance premiums, loans, personal insurance, premiums
Posted in insurance premiums | 1 Comment »
Wednesday, February 9th, 2011
The majority of us will require at least one type of insurance policy and if you drive a vehicle then you will certainly need to get a car insurance policy as protection. This is going to get you in both the legal and a financial sense and therefore is a total obligation. If you are looking for car insurance London then the chances are fairly high that you will be wanting to get a decent deal. Here are some tips on how you can achieve this.
It is first important to you to sit down and consider exactly how much coverage you are going to require. While it would certainly be dangerous to leave yourself with insufficient coverage, purchasing coverage that you simply don’t need is going to be a complete waste of money. Consider exactly what coverage you need, therefore, before you progress.
If you want to save money on your policy then setting a high deductible on it is always a good idea. The higher your deductible becomes, the lower your premiums are going to be. Of course, you are not going to be able to reduce your premiums to a ridiculously small amounts, but you may well be able to benefit from up to 20% of your policy that offers you set a high enough deductible.
It’s good idea to look into getting multiple policies with the same insurance provider in order to save some money as well. Evaluate whether you need to get another sort of insurance policy, such as home insurance, and then look for a provider who will offer you both policies as part of a package. When you do this you are very likely to save some cash.
However, at the same time you do need to compare any discounts that you are getting against the option of purchasing each separate policy from a specialist provider. This makes it extremely important for you to spend as much time as possible gathering quotes from multiple different companies. By doing this you will give yourself a great degree of exposure to all of the best options out there.
It is also a good idea to put in a large down payment or to cover the entire cost of your insurance bill upfront if you can. In order to do this you will, of course, need to save up some money, but if you can cover the entire cost then you should be able to avoid any additional charges from accumulating.
You need to evaluate your vehicle and make sure that the necessary antitheft and safety devices are properly installed. If you do this then you will demonstrate to your insurance provider that the chances of your vehicle being stolen or you being injured in an accident are reduced.
You should also make sure that your Home Insurance Waterloo provider is completely aware if you have a safe location to keep your vehicle during the evening. Again, this will help to reduce the chances the chances of theft and damage.
Canada’s largest independent insurance brokerage firm delivering Car Insurance Cambridge to your community and around the world.
Tags: business, car insurance, family, finance, financial planning, financial services, home, home insurance, insurance premiums, loans, personal insurance, premiums
Posted in insurance premiums | 1 Comment »
Wednesday, January 19th, 2011
People are looking for ways in this economy to be able to save money. If you want to save money on auto insurance, there are a few things that you can do in order to get the money savings you are looking for.
The first thing to realize is that whenever you switch insurances, you can usually get a new customer discount. This means that switching insurance companies every year or two is going to help you to keep your rates low. This also is the case when you start to bundle things. For example, if you bundle your home with your auto insurance, you will have a much cheaper insurance premium.
The next thing to understand is the price that you pay depending on the driving record that you have. If you have a good driving record, you are considered to be a minimal risk to the insurance company. If you have a bad driving record, it is much more difficult for the insurance companies to give you the low price that you are seeking.
Another thing that effects what you will pay on a premium, is the age that you are. For example, a teenager is harder to insure because they are new drivers and have a risk to get into a wreck. The magical age to start saving money is 25 years old. Once you are over 25 years old, it is much cheaper to drive.
Bundling your services is also a great way to go when wanting to save money. If you want to save money, make sure to bundle your home, renters, and other insurance policies with your auto to get a discount and to save money.
Saving money with your insurance company is possible if you follow these tips. Getting the right premium is possible. Make sure to follow these tips in order to start saving money today.
Learn more about flood insurance utah and about utah liability insurance
Tags: auto insurance, car insurance, coverage, finance, insurance, insurance premiums, liability, premiums
Posted in insurance premiums | 1 Comment »
Wednesday, December 22nd, 2010
Anyone that owns a car or any type of vehicle needs auto insurance. Many people may not know this but you can find affordable car insurance without having to spend the whole day on the phone with the companies. You can even find some companies that will give you a discount if you purchase your auto and home insurance from the same company.
If you know what you should look for you can find all kinds of discounts. Before buying coverage for your automobile ask the company if they offer discounts to drivers who have a good driving record. You should also ask the company about any discounts they nay have for cars that have safety features.
Some companies will give discounts to clients that have been using them for all their needs for many years. You can also do a search online to find multiple companies that will give you quotes from several different companies so that you can get the best possible price.
You also want to be sure you are getting good quality as well as affordable rates. Be sure that you check to see that the company is not giving you a low monthly payment but also giving you a very large deductible. The higher your deductible is the lower your monthly payments will be but just be careful that your not getting ripped off.
It is also cheaper to purchase all your insurance needs from the same company. You can usually find companies that will cover home owners, auto, life and even health coverage. When you bundle all your coverage together you usually get a pretty affordable price. It also makes it easier to pay your payments when you are making the payments all to one place.
The type of vehicle you are insuring will also determine the amount of your monthly premium. Sports cars are more expensive to insure than a family vehicle with safety features. Your driving record will also play a big role in determining the amount of your monthly premium.
Keeping a clean driving record is more important than you might think. Some companies will not even cover you if you have too many citations or driving under the influence. These companies want to make money just like any other company and they want to be sure that the person they are insuring is less likely to get into a wreck due to drinking and driving or speeding.
Once you have found the company that you want to use then you can purchase your coverage in the office, over the phone, or on the internet. It is much quicker to purchase your Home Insurance Cambridge online, you can be covered in just a few minutes. Most things are done by computer anyway so you never even have to see or talk to a person unless you want to. Some people feel more comfortable speaking with a real person instead of a computer. If you prefer speaking to a person then that is possible as well.
Canada’s largest independent insurance brokerage firm delivering Car Insurance Cambridge to your community and around the world.
Tags: benefits, business, car insurance, coverage, financial services, home insurance, insurance premiums, loans, pension, personal insurance, premiums
Posted in insurance premiums | 2 Comments »
Wednesday, December 22nd, 2010
Do you want to find some cheap auto insurance? Well, the chances are fairly high that you do. Like most people, you are most likely trying to save money wherever you can and one place where you may be able to do this will be with your auto policy. Let’s quickly have a look at some easy ways of reducing the cost of your premiums.
It is important that you start by taking a good view of the market and finding out what is on offer. The easiest way of doing this is by taking advantage of the Internet and gathering as many quotes as you can online. If you only gathered a few quotes then this would really make your exposure to different companies and therefore you would have no idea whether or not the quotes you are being offered were competitive.
Consider phoning companies directly in order to gather quotes as well. By searching online you may be only exposing yourself to generic quotes and these will certainly not offer you the best value. If you take time to negotiate over the phone then you will give yourself a much better chance of identifying quotes that will provide you with more affordability.
Only purchase coverage that you really require. This will necessitate spending a bit of time considering the different types of coverage you actually going to need. If you are looking to save some money then you really need to try to avoid purchasing coverage that you are never going to use. For example, if your car is relatively old and isn’t worth a great deal, don’t bother purchasing collision coverage.
Increase your deductible if you want to achieve low premiums. This may sound a little bit counterintuitive if you are trying to save money, but by setting a high deductible, your premiums will be significantly reduced. Of course, it is important to make sure that the deductible is set at a rate that you can actually afford. If, however, you don’t make a claim then you will be saving a great deal of money each and every month.
Pay for the entire policy up front. Do not try to set up a monthly payment plan but instead save up some money and cover the entire cost of the policy straightaway. This, again, isn’t necessarily the best way forward for most people, but in many cases it will actually save you money. By paying for the whole policy up front you will have no chance of missing payments and therefore the policy provider will offer you a discount.
Spend some time searching around for discounts elsewhere as well. A popular discount that many people qualify for will be multi-policy discounts. This type of discount refers to when you purchase a number of different policies from the same provider. For example, if you purchased your auto insurance with your home insurance from the same provider, they would offer you a discount when doing so.
Ensure that your vehicle has all of the necessary safety devices and antitheft devices installed. This will reduce the chances of you being injured in an accident or your car being stolen and as a result of this your provider will reduce your car insurance edmonton premiums.
Industry leading provider of auto insurance and car insurance Calgary. Choose from a variety of coverage options and analyze different insurance quotes that best match your needs.
Tags: automotive, business, car insurance, car regulations, credit rating, family, insurance policy, insurance premiums, policies, premium, technology
Posted in insurance premiums | 26 Comments »
Tuesday, December 14th, 2010
Many insurance providers offer different insurance packages nowadays. With so many providers now existing, it is important to be careful to choose the right company and the insurance cover you need. Paying for insurance is an additional burden on the budget, but you can save a lot by having cheap insurance without compromising on the insurance cover you need.
When looking for cheap car insurance, you can find many insurance providers on the internet. Searching on the web is a very convenient way for searching for insurance companies. You don’t have to visit each office or call them to inquire about the services they offer. With the numerous companies out there, it is important to do some prior research in order to get the bet deal.
The insurance provider should have a good reputation. Do some research by asking someone about the company or finding feedback from other customers on the web. There are some companies that make you go through a long and complicated procedure before you can make a claim.
A high rate of insurance is usually charged to high risk drivers and cars. So if you are looking for ways to have cheaper car insurance, you must be a safe driver and that your car is not prone to significant damage when it in an accident or is not the type of car that car thieves like to steal.
Some companies require some driving course certificate to lower the rate of insurance, such as a safe driving course, which you can enroll at in a driving school. Before signing into an insurance contract, it is important to be aware of important details such as ways on how you can lessen the rate.
There are many things you need to consider and do before purchasing any type of insurance. If you want a cheap car insurance rate, ample research and preparation must be undertaken to get the best deal.
Danny writes numerous articles on short term auto insurance and about getting short term car cover on the web
Tags: auto, auto accident, auto insurance, auto insurance policy, auto insurance premium, car, car insurance, finance, insurance, insurance policy, insurance premium, insurance premiums
Posted in insurance premiums | 23 Comments »
|
