Adequate insurance needs to be arranged by winter sports fans

With winter now here there may be many people that are planning on heading out for a break to enjoy the exhilarating thrill of winter sports. This is the type of holiday that is hugely popular with many people, but is also the type of break that comes with increased risks due to the higher risk of injury. There are also higher risks posed because of the costly equipment that holidaymakers on winter breaks have to take with them, which can cost a fortune in the event of loss, theft or damage.

Officials are now urging consumers to ensure that if they do decide to take a break involving winter sports they take the time to take out the right level and type of travel insurance. Whilst some people may already have travel insurance or may take out a standard policy it is necessary to take out a special policy when participating in winter sports. Without this, the holidaymaker may find that they are not covered and in the event of an accident, injury or issue with equipment this could prove to be extremely costly.

When arranging travel insurance for winter sports holidaymakers need to make sure that not only are they covered against the increased medical and health risks that come with winter sports but that they also ensure that their costly equipment is also covered. With standard travel insurance a large percentage do not provide cover for any type of winter sports, which is why travellers need to check their policy before they head off on a winter holiday.

One official stated: “To ensure they get the right type and level of cover for their trip, people need to focus first and foremost on pinpointing the features they need.”

Tags: winter, whilst, policy, winter holiday, health, theft, event, break

ABI wants to increase safety for young drivers

The Association of British Insurers has recently revealed a number of key priorities relating to car insurance, which is aimed at making a number of improvements including improving safety for young drivers. The organization said that it wanted to take steps to reduce young driver accidents and more importantly deaths as a matter of urgency.

Otto Thoresen, ABI’s director general, was speaking at the ABI Motor Conference recently and spoke about how all insurance companies were keen to be able to provide customers with competitive prices for their insurance cover. He said that one of the ways that would enable insurance firms to do this was to improve the safety of younger drivers .

Thoreson said that every day around eighteen young people were killed or seriously injured on the roads of Britain. He said that the ABI had called for measures to be taken some years ago to try and reduce these serious injuries and deaths and since then many young lives had been taken on the roads. The ABI wants the government to take steps to help tackle this issue, which will save lives and help to bring insurance costs down.

He said: ‘As a nation of car users with some of the busiest roads in the world, insurers are committed to providing the best possible deal for motorists. One of the key ways to achieve this has to be improving the safety of our young drivers, who continue to make up a disproportionate number of road casualties. Five years ago we called for measures, such as a minimum learning period, to tackle this tragic waste of life, yet every day 18 young people die or are seriously injured on our roads. Insurers are actively helping young drivers through the increasing use of telematic ‘black box’ systems that reward safer driving. But we cannot do this alone. So I reiterate our call to the Government to work with us to tackle this issue. The time has come to seriously consider tougher measures such as a zero tolerance drink-drive limit for drivers under 25, graduated licencing, and restrictions on driving at night and in the early hours.’

Tags: Association, reiterate, time, ABI Motor Conference, reward, organization, car users, period

Consumers rely on lottery in case they lose their jobs

Whilst a huge number of us buy lottery tickets every week in the hope of hitting the jackpot or at least securing something substantial, the chances of actually winning big are minute and for the majority of us will never happen. However, despite this, recent research has revealed that there are many people who are hoping that a lottery win will sort them out financially in the event that they lose their jobs.

Worryingly, a large number of people now have no insurance in place to protect their income in the event of a job loss and are instead looking at other options to tide them over financially, with some stating that they would use savings, others relying on family and friend to help them out, and some relying on a lottery win to ensure that they can get by if their income is suddenly cut off.

The research was conducted by British Insurance, and according to the results, around 59 percent of workers were worried about the security of their jobs, which equates to around 17 million workers. This figure reflects an increase of 7 percent compared to the survey last year. However, fewer people now have any protection in place, with 20 percent of workers having protection in place last year but only 14 percent having protection according to this year’s survey.

One official from the company said: “Although we’re told the UK is coming out of a recession, this confidence is clearly not shared by the majority of workers. And with economists predicting that the economy will stagnate over 2012 or suffer a deep recession if the eurozone situation deteriorates, it’s advisable to have a plan to replace any future lost income without dipping into savings or falling into debt.”

Tags: future, Gambling, Recent research, eurozone, survey, economists, recession

Are you covered for bonfire night?

Homeowners are being advised to make sure that they check their home insurance policies and plans before the festivities of Bonfire Night, as they need to make sure that they have the right level of cover for their needs and to ensure that they have adequate cover in place in the event of accidents or injuries. Many people do not even think about the fact that they may not have adequate cover in place and therefore any incidents that take place could end up costing them a fortune.

Whilst households may have insurance cover in place there is a chance that certain things are not covered on their policies, and this is what officials are urging households to check before Bonfire Night comes around. For example, if you are having fireworks and a bonfire in your garden your insurance cover may not offer any public liability protection in the event that someone is inured or worse on your property, which would effectively be your responsibility.

Officials have said that every year thousands of people are injured at bonfires and fireworks parties and households that do not have the right level of protection in place could find themselves in very hot water in the event of an injury occurring on their property. A quick phone call or just checking your policy could enable you to determine whether you have the right level of cover in place and if not you can upgrade your cover before November 5^th.

One home insurance expert said: “For those hosting a fireworks party at home, it is essential to ensure your home insurance policy is up to date and that you have adequate personal liability cover. In the event of an accident such as someone getting burnt on the bonfire, you could find yourself liable for any injury or damage if you are not covered by insurance.”

Tags: home insurance, bonfires, adequate cover, phone, date, chance, public liability protection, place

BBQ season could put homes at risk

Many people in the UK take out home insurance to protect both their belongings and their homes against damage, which can come in many different forms. One industry official has recently warned consumers to make sure that they stay safe when having barbeques at home, as there can be many dangers associated with this type of event.

With the lovely warm weather we have had recently and the summer season coming up there could be an increase in the number of people that are now having barbeques in their gardens and yards. These can be fun events for family and friends to enjoy but can also be fraught with danger, especially if there are kids around or a lot of people that are drinking at the BBQ.

Of course, consumers need to make sure that they do have adequate insurance in place to protect themselves financially in the event that something like this does happen during a barbeque. The Royal Society for the Prevention of Accidents has spoken out to urge consumers to be careful when they are holding a barbeque to ensure that they are taking precautions, having safety equipment at hand, and keep drinkers and children away from the barbeque to prevent any accidents that could damage the home and worse still cause serious injuries.

At this time of year the number of people having barbeques goes up and whilst this is great fun for those involved it does mean that danger levels also increase accordingly.

Sheila Merrill, RoSPA’s public health adviser, stated: “Hopefully, the good weather will continue throughout the summer and taking care with barbecues will mean that everyone stays safe to enjoy it.”

Tags: accidents, family and friends, home, fraught with danger, adviser, Prevention, number, Hopefully

Motor insurance continues to rise

A recent survey has shown that motor insurance is continuing to increase, leaving many drivers who are already struggling to keep up with the cost of running their vehicle in an even worse situation in terms of their finances. The cost of vehicle insurance has been soaring recently and is much higher now than it was a year ago. On top of this drivers have had to deal with vast increases in petrol costs, leaving many financially crippled.

According to the results of the survey the cost of insuring a vehicle is now nearly 31 percent higher than it was a year ago. Compared to March the cost of vehicle insurance cover in April increased by 4 percent, showing that car insurance costs are continuing to increase. Many drivers are now being forced to abandon their vehicles and look at other modes of transport because of the high costs involved with running their vehicle.

An official from one insurance monitoring group, Tiger.co.uk, said: “Our analysis shows that car insurance inflation continues to be a major financial issue for the majority of UK drivers. Within our analysis inflation in the last month has been particularly prevalent for younger female drivers and we may well be seeing here the early impact of the recent EU gender ruling that, from December 2012, will outlaw the use as gender as an insurance risk factor in its own right.”

For the many people who are already struggling experts are advising considering a switch in insurance, as the cost of cover can vary from one provider to another. Drivers can compare the cost and levels of cover with ease using the Internet and can look at finding a more appropriate level of cover at a more affordable price.

Tags: Business and Economy, group, Many drivers, risk factor, factor, vast increases, The cost

Insurance claims to rise due to bad weather

The motoring group, the AA, has recently said that vehicle insurance claims are set to soar as a result of damage caused by bad weather. During the winter months there are usually increases in vehicle insurance claims, as many people are involved in accidents due to the ice and snow on the roads. 

However, the AA says that further increases in insurance claims are set to result from the damage caused to the roads in the bad weather. Over recent weeks, where temperatures have fallen to their lowest in December for over a century, the roads in the UK have sustained severe damage, with many areas having to cope with huge potholes on the roads.

The potholes have come about due to water seeping under the road surface and then freezing, which then loosens the tarmac. This is then made worse by traffic driving over the loosened tarmac, which turns it into a pothole. These potholes have resulted in many drivers sustaining huge amounts of damage to their vehicles.

Often the damage sustained to vehicles involves the suspension, the bodywork, and the wheels, and one driver had to put in a claim for £14,000 after hitting a pothole, losing control of his car, and then crashing it. According to the AA drivers need to be very careful at present, as local authorities are still in the process of trying to repair the potholes.

The AA said: “It is really important that drivers keep a sharp eye out for potholes and keep their speed down, particularly on secondary roads, remembering that in wet weather deep potholes may be obscured by water. Cuts in road maintenance budgets of 20% mean that local authorities face very difficult choices on the roads they prioritise for repair. While they may fix the dangerous potholes, many are likely to go unrepaired.”

Tags: AA drivers, insurance claims, surface, group, maintenance budgets, motoring group

Insurance fraud costing millions

According to a recent report insurance fraud in the UK is costing the industry tens of millions of pounds a year, with fake insurance claims becoming more and more prevalent, particularly in the current financial climate. The cost of investigating, repairing, and even paying out on fraudulent claims has resulted in a surge in costs for the insurance sector, and unfortunately these costs are then being passed on to the honest consumer.

It is thought that insurance fraud is costing the industry around £800 million a year, and officials from the Association of British Insurers have said that the most common type of fraud is in relation to home insurance. Figures indicate that in the UK around 170 homeowners file a false insurance claim every day, showing just how the value of fraudulent claims has soared to such a high level.

Whilst the insurance industry has become far more stringent with regards to running checks on claims that are made, particularly if there is something that does not seem to gel, many of these false claims still slip through the net, often because there is no way of proving that the claimant is not telling the truth. This level of fraud is costing not only the insurance industry a fortune, but also honest policyholders who have to pay more for their cover in order to cover the losses that are resulting from fraudulent claims.

An official from the Association of British Insurers said: ‘Insurance cheats do not prosper – they can expect to get caught, face problems getting future insurance and risk getting a criminal record. The majority of customers are honest and rightly object to subsidising the cheats. Insurance fraud adds an extra £44 to the average UK household’s annual insurance bill. This is why 2011 will see insurers intensify their war against the cheats, to protect their honest customers.’ 

Tags: level, financial climate, honest customers, net, recent report insurance fraud, uk, claim, homeowners

New pet owners should get their pets insured

With Christmas Day now over for another year there are many households that will have a new addition to the family in the form of a new pet, such as a cat or dog. However, whilst families will be looking forward to starting the New Year with a new member of the family it is also important to start thinking about the health and welfare of the pet as early on as possible.

It is important for new pet owners to start thinking about getting their pet some health insurance, so that if they pet falls ill or suffers an accident it can get treatment or medication without the owners having to worry about finding the huge amounts of money that this can cost without insurance cover.

Officials have advised new pet owners to compare pet insurance to find a good deal, and to make sure that their pet gets the protection of health insurance as soon as possible. This is particularly important for those that have had younger pets such as kittens and puppies, as they are more susceptible to health problems.

Whilst there are a number of insurance companies that offer competitive health insurance policies there are also some veterinary surgeries that offer their own pet cover, so when you get your pet registered with a pet – which should also be done as soon as possible – you can enquire about their own bespoke pet health cover schemes.

Without pet insurance cover in place it can be very difficult for pet owners if something happens to their beloved animal, but with cover in place pets will have the protection of being able to get treatment and medications quickly and easily if the need arises, and pet owners will be able to enjoy peace of mind.

Tags: officials, Pet Emergency Management, Ownership, pet, worry, new pet owners, protection, welfare

Cold weather could result in huge insurance claims

It has been claimed in a recent report that the cold weather that has swept across Britain could result in a billion pounds worth of insurance claims this year. The claims has been made by the Association of British Insurers, which believes that the cold weather is going to cost insurance firms dearly, with claims being made for all sorts of weather related damage.

Just over one billion is said to have been paid out to homeowners by insurance companies last year following what turned out to be the coldest winter in thirty years, according to the ABI. The association warned that damage such as leaks and burst pipes could cost insurance firms a massive £11 million per day this year.

The Insurance Information Institute reported that last year winter storms and weather cost insurance firms in the United States around $770 million, and this was said to be the lowest total in eight years.

The freezing weather and sub-zero temperatures in the UK have resulted in many schools being closed and chaos on the roads of Britain. With temperatures continuing to plunge many people will find themselves having to cope with problems in the home, for which they may end up having to claim from their insurance firms.

Consumers are urged to make sure that they have winter insurance cover in place, and make sure that it is adequate and covers their needs in order to ensure that they are able to make a claim should any problems arise. Homeowners should also make sure that their heating is serviced so that it does not break down and to reduce the risk of pipes freezing and bursting.

Tags: leaks, worth, coldest winter, business, home

Homeowners advised to check insurance cover is adequate

Officials are warning consumers to make sure that they have adequate insurance cover in place as the cold weather sets in. The cold snap across the UK has already caused chaos, and with weather conditions set to get worse many people could find that it affects their homes as well as causing problems such as traffic issues.

Officials have warned that as the winter sets in homeowners need to make sure that they have the right insurance cover and the right level of cover in place in order to protect themselves against the damage that can be caused by freezing temperatures and heavy snow. Claims are said to shoot up at this time of year, and for those that find their cover is not adequate – or who have no cover in place – the financial implications can be huge.

Frozen pipes and broker down boilers are amongst the more common problems that can affect households at this time of the year. If homeowners do not have any insurance, do not have the right cover, or do not have an adequate level of cover, in place then getting these problems sorted out could be extremely costly. However, with the right cover homeowners can simply arrange for repairs to be carried out through their insurance provider.

Another thing that winter brings with it is the dark nights, making it easier for thieves to gain entry to houses without being spotted. Homeowners should therefore also ensure that they have the right level of cover in place to protect them in the event of damage and theft caused by burglars.

With Christmas coming up many thieves will be on the lookout for expensive gifts that households have received or have bought to give to others. Make sure that if you have valuable gifts in the home you are adequately insured, as otherwise you may not be able to claim for them.

Tags: Insurance, right cover, pipes, traffic issues, chaos, United Kingdom, officials, cold weather

Older consumers struggling to get travel cover

A recent report has highlighted how difficult it can be for older consumers to find affordable travel insurance cover, with many finding the cost of this cover too high to afford. Many older people aged sixty five and above find themselves in a difficult situation where they suddenly have more time to travel following retirement but then discover that their age is making it difficult or impossible to get insurance for their travel.

Figures have shown that the average cost of cover for someone in their thirties is under twenty pounds for a single trip cover policy. However, for someone that is eighty years of age the cost can be around five times that amount, and that’s only if the older traveller is fit and healthy. For those that have past and existing medical problems the cost can be too much to afford.

Older people often struggle to get travel insurance cover, and this is because insurance firms see them as a higher risk and a liability become of their age and frailty. The amount charged for travel insurance for someone aged sixty five can more than double for someone aged sixty six who is going to the same destination for the same period of time.

The amount of choice that older travellers have is also limited, as there are some firms that will not provide cover for anyone aged over sixty five. The cost and availability of travel insurance cover for older people has resulted in some people being unable to enjoy the plans to travel following retirement because they simply cannot afford the cost of the cover.

One industry official said: “It can be very difficult for people of retirement age to get affordable travel insurance cover, and it is vital that they take time to compare because some insurance firms will charge a fortune.”

Tags: policy, consumers, travel, amount, finding

Airlines dragging their feet over ash cloud insurance payout

The Icelandic volcanic ash cloud that swept across UK airspace earlier this year caused havoc for many travellers, leaving many stranded abroad and many others unable to set off on their travels. UK airspace had to be closed towards the end of April this year for around a week, and many people that were stranded abroad had to pay for food, accommodation, and to contact people at home.

Thousands of travellers had to put in claims as a result of the chaos and the money that they had to pay out to stay abroad until UK airspace was opened again. However, it has emerged that eight months later many are still waiting for their claims to be sorted out, with some airlines dragging their feet over payment on claims.

A number of unscrupulous practices are said to be going on amongst some airlines, which includes capping payouts to consumers, only paying a fraction of the amount being claimed by consumers, delaying claims until early next year or beyond in some cases, making consumers contact foreign compensation schemes and pay for translators, failing to respond to emails forcing consumers to contact them via expensive phone numbers.

Industry official have expressed concern that many consumers with travel insurance who were trying to claim for the disaster are being directed to foreign complaints bodies that do not provide translation services.

One official said: ‘This has meant travellers have had to pay for translators to get their complaint put in to the local language. They would not have to do this if the airlines just met their obligations. For example, they cannot limit claims, and we have seen that happening. We are in constant discussions with the airlines about their responsibilities.’

Tags: contact, Financial services, translation services, compensation schemes, year, food

Some drivers wasting money on wrong insurance cover

Having vehicle insurance cover in place is a legal requirement in the UK for drivers that intend to operate a vehicle or take their own vehicle out on the road. However, the cost of vehicle insurance can be expensive, and increases in premiums have left many people struggling to afford this cover.

However, in their bid to save money on the cost of insurance cover some drivers could simply be wasting money according to a recent report. It is claimed that many people are taking out vehicle insurance cover that offers them little to no protection simply because it is the cheapest they can get. This means that they are paying out money for insurance cover, but if they need to make a claim it could turn out that they are not adequately covered.

Many of those that are taking out the cheapest car insurance even though it may not be suitable are using price comparison sites to find their cover. Price comparison sites often give consumers the impression that they are getting a very good deal on their insurance cover, when they may actually just be getting the cheapest cover without the level of cover that they need.

Officials have said that many of those that simply opt for the cheapest cover without really thinking about the level of cover that they need are taking a huge risk, as they may find themselves with real problems in the event that they have to make a claim.

Consumers who are looking for cover are advised to make sure that they compare the features and coverage levels of the plans that they are considering rather than focusing their attention on the price of the cover, as this could turn out to be a false economy that will cost them far more in the long run.

Tags: United Kingdom, Healthcare in the Netherlands, focusing, wrong insurance cover, insurance cover, level, Financial economics, finance

Comparing breakdown cover can save you money

It has been revealed that drivers who take the time to compare breakdown cover with different insurance companies are able to save more money in the long run than those that just automatically take the cover offered to them by their car insurance provider or simply go for the first breakdown cover plan they come across.

Over recent years an increasing number of people have started to take on vehicle breakdown cover plans, with more and more of them realising just how valuable this cover can be in the event of a breakdown either at home or whilst out and about. There are different levels of cover available, including plan that include home start, where someone will come out to you even if you break down in your own home.

There are now more vehicle breakdown providers than ever, as demand for these services has resulted in a surge in the number of companies that are offering cover. This means that drivers now have far greater choice, and can find a breakdown cover plan that offers them the level of cover that they need for a price that is highly competitive.

A study was recently carried out, and the results showed that people that took the time to compare different breakdown cover plans and providers were far more likely to get affordable breakdown cover than those that did not compare the different options available.

One industry official said: “The cost of breakdown cover plans can vary quite widely between different providers, and you may end up paying far more for your cover with one company than you would for exactly the same level of cover with another provider. This is why it is so important to browse and compare a number of plans and providers before you commit.”

Tags: insurance provider, music, whilst, affordable breakdown cover, vehicle breakdown cover, time, car insurance

Insurance company wins award

A leading insurance company that deals with private medical insurance has won an award that could see it becoming an even more popular choice amongst companies and individuals that are looking for a private medical insurance plan. The award was won by the insurance giant Aviva UK which won the award for health insurance company of the year at the recent Health Insurance Awards that were held in London.

The winner last year for the same award was Bupa, but Aviva pipped the rival provider to the post and took the crown for this prestigious title. The company also won two other awards during the evening, and this could really boost its profile and increase its popularity, both on a personal basis and a corporate one. Bupa also lost out when it came to the international private medical insurance award, which it has won for nine years in a row – this year it lost out to IMG Europe.

Aviva officials have said that they have been focussing on making healthcare easier for their customers by providing them with a range of tools and resources to make it easier for them to take care of their health effectively.

One official from the insurance giant said: “Aviva has developed several online tools such as a BMI calculator and MyHealthCounts to help our customers better manage their health.”

More and more people are becoming interested in private health insurance cover, as they become more conscious about their health. There are a number of providers offering competitive deals on private medical insurance cover, and it is important for anyone that is considering taking out this sort of cover to make sure that they compare different deals in order to get the most competitive price and the most suitable plan.

Tags: insurance company, IMG Europe, official, prestigious title, Health care, Health Insurance Awards, europe, corporate

Car insurance premiums increase by up to 50 percent

It has been revealed that drivers are facing huge financial burdens, with the news that in some cases car insurance premiums have soared by up to a massive 50 percent in the space of one year. This could see some motorists now paying hundreds of pound a year extra in car insurance premiums at a time when many are already struggling to keep their vehicles on the roads due to high petrol prices and other financial commitments.

Annual renewal costs on car insurance are now said to be at an all time high, and according to some industry experts part of the blame for the soaring cost in cover lies with ‘crash for cash’ fraudsters, who are swindling insurance firms out of huge sums of cash by staging crashes and then claiming. Fronting, which is where parents are including their kids on their own cover due to the cost of insurance for a younger driver, has also been blamed for the surge in car insurance costs.

The cost of cover for male drivers aged between seventeen and twenty two years of age has soared by around 51 percent, taking the average price of cover to £2500. For female drivers of the same age the average cost of cover is around £1400 according to figures released by the motoring group, the AA.

The AA commented on the fact that many parents were engaging in fronting, stating: ‘This is actually fraud and it is driving up premiums for everyone. Insurance companies are getting much better at detecting this.’

The company added: ‘There has also been an escalation in our compensation culture, imported from America. In the past, if you had a knock or a bump and were left with a sore neck, you would take a paracetamol. Now personal injury lawyers encourage you to sue. Personal injury claim rates in Britain are four times those of any other European country – yet we have fewer accidents.”

Tags: car insurance costs, insurance costs, driver, compensation culture, country, pound, paracetamol. Now personal injury, paracetamol

Cost of smart phone insurance cover rising

Over the past year or two a rising number of high tech smart phones have hit the shelves in the UK, and these days more and more people are sporting these expensive gadgets. Smart phones are also high on the list of things to steal amongst thieves, and many people find themselves victims of phone theft when taking their high tech phones out with them. Many others end up losing their smart phones or causing damage to them by accident.

The smart phones of today can do all sorts of things, and are packed with apps and features. However, these phones are also very expensive, and this can cause a problem when it comes to insuring them. Recent data has shown that some mobile network operators are now hiking up the excess charges on iPhone insurance, and some will only provide reconditioned second hand phones to replace the one that has been lost, damaged, or stolen.

Consumers are advised to shop around for insurance cover for their smart phones, as the cost can vary from one provider to another. Some people may have mobile phone insurance built into their benefits package if they have a packaged bank account, but should check to make sure that the cover also applied to high end smart phones. Officials have said that another option for consumers is to consider adding it to the home insurance policy. Consumers also need to check the details of any policy to see what the phone is covered against and what the excess charges are.

One industry official stated: ‘Insurers across the board are seeing claims rise, be it because of fraud or just because new phones are more attractive to thieves. Insurers that will cover older phones are the hardest hit.’

Tags: high tech phones, expensive gadgets, Insurance, Technology Internet, home insurance policy, bank, Network, industry official

Study being performed into behaviour of insurance fraudsters

A study is being carried out into the way in which people behave when committing insurance related fraud. A researcher at the University of Portsmouth, Sharon Leal, has been awarded a grant of £112,000 by an insurance fraud investigation firm to carry out studies into the way that people behave when they are committing insurance fraud.

The findings so far have suggested that many people that are committing insurance fraud give themselves away by thinking too much and too hard about their stories and about what they say. Leal said that those that were lying to insurers went into far too much detail because they planned their story beforehand whereas those telling the truth did not do any forward planning about what to say to the insurance company.

The fact that those committing fraud have to focus more on their story and think more carefully about what they are saying affects the way in which they behave according to the researcher, who is said to be an expert in detecting deception. Leal also said that it was these changes in behaviour that would most likely form a basis for new methods of detecting insurance fraudsters. Investigations into claims could be triggered by various factors such as an overly large claim being made or suspicion on behalf of the insurance employee that first deals with the claim.

Leal stated: ‘There is a real need to use evidence-based methods that are scientifically proven to work to stop wasting insurance companies’ time and money and to stop innocent people being treated as suspects while the guilty get away’ She added: ‘There is a saying, ‘when needs must, the devil rides’, which basically means that when times are tough, people are more likely to break the rules. Insurance fraud has been on the rise since the recession began and insurance companies are very keen to find a way of beating those who cheat.’

Tags: basis, telling the truth, researcher, time, various factors

Older women pay far more for car insurance

A recent report has highlighted how women can suddenly see the cost of their car insurance rocket when they hit the age of sixty, with a study revealing that once they hit this age they can end up pay around £80 a year more than men for their cover. Younger women generally get charged less than men for their vehicle insurance cover because they are considered to be safer drivers.

According to reports insurance firms believe that the abilities of women decline faster than those of men as they grow older, and because of this they are seen as a higher risk when it comes to driving. This means that as women get older they can see their insurance premiums increase, and once they hit sixty they will find that they may be paying considerably more than men.

The study was carried out by the consumer watchdog group Which?, and officials from the group said that sixty seemed to be the point at which women started paying more than men rather than the other way around. The officials involved on the research used a price comparison service and obtained quotes from five difference vehicle insurance companies to work out what the cost differences would be.

The research showed that after the age of sixty a woman could end up paying around 28 percent more than a man for the same policy with the same car and the same personal circumstances. The group said that of the insurance firms that were looked at only one gave a similar price for men and women after the age of sixty.

A spokesperson from Which? stated: ‘Gender is one of the factors that has an influence on the premium we offer. The difference is correct based on our estimates of the level of risk the two customers would represent to us as an insurer.’

Tags: insurance premiums increase, risk, men and women, officials, price comparison service, level, research

Many fail to take out travel insurance cover

It has been reported that many people who are setting off on their travels do not bother to take out any form of travel insurance cover, putting themselves at risk of crippling financial costs in the event of accidents, illness, theft, loss or theft of belongings. Figures were released by the travel association ABTA, showing just how many people do not bother about taking out travel insurance.

The company claims that nearly 20 percent of travellers do not take out travel insurance cover, with nearly one in five British travellers said to have not bothered with this important cover. The company also said that many travellers have real misconceptions when it comes to travel insurance cover.

The travel firm carried out a survey and found that around 16 percent of those polled thought that in the event of a medical emergency the government would pick up the tab if there was no travel insurance cover in place. The results showed that 26 percent of younger travellers thought that any medical and related expenses would be funded by the Foreign Office if there was no medical cover in place.

The number of people failing to take out any insurance cover whilst holidaying in the UK was particularly high, coming in at 55 percent. The survey also found that 17 percent of consumers did not consider travel insurance to be important. However, officials have said that this sort of cover is vital for travellers, as it covers things such as medical expenses, treatment, replacement of lost cash, cancellations, delays, damage to belongings, theft, and a myriad of other things.

One industry official said: “It’s amazing how many people go off on their travels without taking any insurance out. However, it’s only when something bad happens that they realise just how expensive a mistake this can be, and how avoiding paying a few pounds for cover can end up potentially costing them hundreds or even thousands of pounds.”

Tags: finance, sort, abta, travel insurance, office, uk, foreign

Insurance hikes hit over 50s

The results of a recent survey have revealed that vehicle insurance hikes have been hitting people aged fifty and over in the UK. A number of surveys that have been released recently have shown that the cost of insurance cover has rocketed for younger drivers but it seems that the price of insuring a vehicle is also resulting in older drivers struggling.

Figures released recently have shown that over the past twelve months motorists aged fifty and over have seen a huge hike in the cost of car insurance, leaving many struggling to keep their vehicles on the road. In the space of just twelve months the cost of motor insurance for those aged fifty and over is said to have increased by a massive 26 percent.

The survey was carried out by the firm ConsumerIntelligence.com, and involved polling more than six hundred thousand people. The results of the study showed that for motorists aged fifty and over the cost of insurance increased from just over £355 in June of last year to just under £450 in June of this year.

It was also revealed that there was a vast different in prices being quoted by insurance firms that specialised in motor insurance for those aged fifty and over, with the cheapest being £378 and the most expensive being £563, which reflected a different of 49 percent.

It is thought that part of the reason why motor insurance firms are upping the cost of cover for this age group is because many do not expect older drivers to remain loyal. This is reflected in the number of older people that are prepared to switch motor insurance providers, with 81 percent of drivers in this age group shopping around for more competitive quotes when it comes time to renew their cover.

Tags: Vehicle insurance, Insurance, ConsumerIntelligence.com, insurance cover, fifty, massive 26 percent, June, firm consumerintelligence.com

Slowdown in insurance price increases

Over the past year many drivers in the UK have been hit hard by the rising cost of petrol, and to add to their misery huge increases in vehicle insurance have also been put into place as motor insurance firms struggle to recoup losses resulting from increased claims and investment losses. This has made it increasingly difficult for drivers to keep their vehicles on the road.

However, it has been reported recently that whilst the cost of vehicle insurance is still on the up the price increases have started to slow down, which will come as a relief to many drivers who are due to renew their policies and have been concerned about how much more this will cost.

In the third quarter of this year the cost of insurance is said to have increased by 8.6 percent, taking the average cost of comprehensive cover to £650. The increase during the previous quarter came to 14.2 percent, which was much higher than the increase for the three months to the end of September. However, whilst the increase in the cost of cover has slowed down the average cost of cover is still around 37.5 percent higher than a year ago, with the increase for younger drivers taking out third party, fire, and theft cover coming in at over 54 percent.

One official involved in the research into price increases on motor insurance stated: “The price corrections that have been taking place over the past year or so have been essential to getting many private motor insurers back on an even keel after poor 2009 results. However, the level of increases is starting to slow down, with each month in the quarter showing flatter price rises than the previous one.”

Tags: motor insurance firms, price, Vehicle insurance, Insurance, road, struggle, Auto insurance risk selection

Increase in insurance claims from gap year students

According to a recent report there has been a marked increase in the number of insurance claims being made by gap year students. One insurance firm has reported that the number of claims that are being made by gap year students on their travel insurance policies has leapt by more than half compared to a year earlier.

EssentialTravel.co.uk. which provides travel insurance, said that from December of last year and May of this year the number of claims on its backpacker insurance policy had increased by over 61 percent compared to the same period a year earlier. Just over 52 percent of claims were down to medical expenses, and over 18 percent were for personal effects according to the insurance firm’s figures.

More than half of the claims that were made originated in Asia and Australia, and officials said that this was due to the fact that regulations in these destinations regarding dangerous sports was more relaxed than in many other destinations. The higher claims for personal effects were put down to backpackers often travelling with costly items such as cameras, laptops, and similar high value gadgets.

The group also pointed out that the value of the claims being made by gap year travellers had increased over the past year, rocketing from £77 per claim to £584 per claim, which reflected an increase of 658 percent.

Stuart Bensusan, of EssentialTravel.co.uk, said: “It is unnerving, particularly for parents, to hear that claims from backpackers encountering mishaps abroad are on the rise, but it goes to show how important it is for them to take out adequate insurance before they leave. Preparing for a gap year abroad is arguably the most exciting time in a young person’s life and nobody wants to think about the potential pitfalls.”

Tags: finance, Insurance, fact, dangerous sports, gap year, travel insurance, insurance claims, group

More sneaky charges from car insurers over last six years

A recent report has shown how more and more vehicle insurance companies in the UK have started applying sneaky charges to the policies of consumers, contributing to the soaring cost of vehicle insurance. Over the past six years the number of insurers applying these so called sneaky charges has soared, making it costly for consumers to take out and maintain their vehicle insurance policy.

Research was carried out to show how an increasing number of insurance firms were applying these charges. Since 2004 the average cost of making changes to policies has risen steeply, and the number of insurance firms that make these charges has rocketed since this time.

The figures show that six years ago around 22 percent of insurance firms charged a fee for an early cancellation, but this has now increased to 70 percent. In 2004 only 17 percent of insurance firms made a charge to change details on a policy but this has now leapt to 67 percent.

The cost of making charges to policies or cancelling them early can be very high these days, with some average fees thought to have doubled based on the figures, which were compiled by Defaqto. Some insurance firms now even charge set up fees and renewal fees to customers that want to take out cover.

Mike Powell, insight analyst for general insurance at Defaqto, said: ‘There has been a noticeable and significant trend for motor insurance policies to charge administration fees for features that were in many cases previously standard services. Many consumers will be unaware that they may actually be paying a set-up fee or a renewal fee for their motor insurance. Such fees will be detailed in the accompanying documentation or in the renewal quote.’

Tags: fee, Vehicle insurance, finance, insurance firms, Insurance

Insurance premiums could soar for flood victims

It has been revealed in a recent report that consumers who live in flood risk areas in the UK could be hit with huge insurance premiums as a result of insurance companies getting tougher. Over recent years insurance companies have had to pay out a fortune as a result of severe flooding in certain areas, which has devastated homes, and it now appears that the industry is determined to clamp down.

According to a recent report some homeowners could be hit with insurance hikes of 500 percent, and may be forced to pay the first £6000 of any claim themselves. The claims come from a report from the consumer charity the National Flood Forum, and is being prepared for a summit that will take place this month between a number of parties, including government officials, insurance industry officials, local authority officials, and representatives from the charity.

The summit will take place to try and determine how flood insurance can still be available to consumers on a widespread basis. The consumer charity surveyed three hundred flood victims, and found that the average increased that they had seen on their premiums was a massive 500 percent. One tenth of those surveyed also had flooding excluded from their policies when they came to renew their cover following a flood claim.

An official from the National Flood Forum said: ‘There’s no consistency in the treatment of flood victims by insurers. And you can’t simply move to another insurer, as they don’t want you. We found Axa, Aviva and Halifax were worst for raising premiums and excesses. The biggest danger is what happens after 2013. If you can’t get insurance, no one will give you a mortgage and you can’t sell your home.’

Tags: health insurance, aviva, insurance hikes, Insurance, Flood insurance, home insurance

Consumers want warmer approach from insurance firms

According to a recent report insurance customers in the UK are looking for a warmer, friendlier approach from insurance companies, with many stating that they would show more loyalty to insurance firms who demonstrated that they knew who they were and knew something of their insurance related history.

The survey was carried out by YouGov and was performed on behalf of Pegasystems. A number of areas of insurance were looked at as part of the survey including how consumers felt about their insurance companies and how consumers tended to contact insurance firms. The results of the survey showed that many insurance customers were looking for what was described as a ‘corner shop’ approach from their insurance providers, making them feel more like a valued customer rather than another number on a long list of clients.

The results also showed that the most common and popular way for consumers to contact their insurance firm was to contact them by telephone. The figures showed that 42 percent contacted their insurance providers by telephone. The survey also showed that there appeared to be growing confidence in using the internet to make contact with such firms, with 22 percent stating that they used email to contact their insurance provider, making this the second most popular method of contact.

The third popular means of contacting an insurance company amongst consumers in the UK was to go and see someone at the insurance firm face to face, but the results showed that most people prefer phone or email to communicate with these companies.

Jeremy Payne, senior director of international marketing at Pegasystems, said: “The Pegasystems research confirms the view that, in a world of increasing commoditisation and mass marketing, many consumers want a return to a ‘corner shop’ approach in which the provider knows who they are, the challenges they face and can provide an individualised solution that demonstrably meets their needs.”

Tags: view, Pegasystems, insurance customers, Business and Economy, consumers, insurance providers, loyalty, Insurance

Consumers advised to think carefully about their holiday insurance

Whilst the summer holidays are pretty much over there may still be many people that are looking to book a winter holiday or even book their break for spring of next year. However, for many holidaymakers the various horror stories about airlines and holiday firms going bust has made them nervous about who they book with.

Over the course of 2009 over fifty airlines and travel companies went bust, and this has continued into 2010. For travellers that were not ATOL protected this meant losing money hand over first, losing their holiday, and even being stranded abroad unable to get back for lengthy periods.

Whilst many travellers and holidaymakers would never have dreamt about going abroad without any form of travel insurance anyway there are now many that may be reconsidering which policy they take out. This is because many travel insurance policies in the past have not covered policyholders in the event that their airline or travel firm goes bust, and this is something that is now making people more nervous than ever.

Given the number of travel firms and airlines that have gone bust over the past couple of years a number of insurance firms are now offering more comprehensive policies that will cover travellers in the event of the airline or travel firm going bust. Whilst these policies may be more expensive that standard policies it is likely to be well worth the peace of mind for many travellers.

A number of travel insurance firms are now adding this clause to their policies, and consumers that are planning to travel are advised to check the policies carefully to ensure that they are actually covered if there are problems such as the airline or holiday firm going under.

Tags: travel firms, airline, travel insurance firms, Insurance, travel insurance

RBS to close many insurance offices

It has been announced that Royal Bank of Scotland is being forced to close half of its insurance offices. This comes after the taxpayer bailout that resulted in the company being forced to sell its Churchill and Direct Line insurance divisions. Under the plans there will be two thousand jobs axed at the division, as the lender prepares to sell its insurance business.

Glasgow will see two offices being closed, causing the loss of over six hundred jobs. There are also closures expected in Peterborough and Bristol, which will see another six hundred jobs go. Union officials are angry about the measures because they blame the loss of hundreds of jobs on the failures of the bank, which was one of those that had to be bailed out using taxpayer’s money.

The global credit crisis caused the near collapse of the banking system in the UK, and whilst the troubled Northern Rock was the first major victim of the financial crisis in the UK, and had to be nationalised after it became the first victim of a run on a British bank in a century and a half, a number of other big name High Street banks ended up following its footsteps.

Whilst it is taxpayer’s money that has resulted in the bank being bailed out lenders are still being very cautious when it comes to providing finance to consumers and businesses, which has already caused a lot of controversy. The loss of jobs resulting from these RBS closures will now cause more controversy, as the blame has been laid squarely at the feet of the bank itself by union officials.

Union Unite official Rob MacGregor said: ‘RBS staff are continuing to pay the price for the bank’s failure with their jobs.’

Tags: lender, insurance divisions, direct, Royal Bank of Scotland Group, British bank, Insurance, finance, rob macgregor

Zurich insurance fined over customer data loss

Insurance giant Zurich has received a hefty fine from the UK’s financial regulator, the Financial Services Authority. The fine has been imposed because of a serious breach of security relating to the loss of customer data files. The insurance company is said to have lost the confidential data files of forty six thousand customers.

According to reports the fine that has been imposed by the Financial Services Authority comes to over £2.27 million, even though there was no evidence to indicate that the data in the confidential files had been misused. A range of data was included in the files and this included identity information, details of bank accounts, credit card details, and more.

The FSA said that some of the data work had been outsourced by Zurich to its South African unit, which then went on to lose a back up tape back in August 2008 that was not encrypted. However, the FSA also said that it was a year later when the loss of the data was actually discovered.

Zurich was accused by the FSA of failing to oversee its outsourcing arrangements effectively, and had inadequate control over the data that was being processed. The incident was described as being unacceptable by the FSA, which said that the matter was made worse by the loss being undiscovered for a year,

An official from the FSA said: “Zurich U.K. let its customers down badly. To make matters worse, Zurich U.K. was oblivious to the data loss incident until a year later. Firms across the financial sector would do well to look at the details of this case and learn from the mistakes that Zurich U.K. made.”

Tags: regulator, Zurich, data, Zurich Financial Services, fsa

Nearly three million people could get PPI compensation

According to the UK’s financial regulator, the Financial Services Authority, nearly three million people could be in line for compensation over mis-sold PPI or Payment Protection Insurance. The regulator claims that 2.75 million people could be entitled to compensation totalling £2.7 billion.

Banks and financial institutions have been given until the beginning of December this year to bring in new rules with regards to dealing with complaints over PPI. The FSA has already said that over a five year period it had found a “wide and deep evidence of weaknesses in PPI sales”.

PPI is a type of insurance cover that is designed to cover repayments on loans and other forms of borrowing for a specified period of time in the event that the policyholder is unable to make repayments due to redundancy, sickness, or injury. However, investigations into the sale of this type of cover found that in many cases the insurance cover was being mis-sold.

One of the ways in which cover has been mis-sold is through selling to those that could not claim, such as the self employed. In other cases consumers were led to believe that they had to take out the cover to get the finance that they needed. In some instances consumers were not even aware that PPI, which is a costly form of cover, had been added to their finance agreement.

In a statement the FSA said: “Today is the culmination of months of hard work and now, with these measures, we look forward to consumers being treated fairly whether they are buying or complaining about PPI. Since we took over the regulation of PPI we’ve carried out 24 investigations and three thematic reviews, issued warnings, halted the selling of single premium PPI with unsecured personal loans, visited over 200 firms, and handed out some very significant fines.”

Tags: Financial Regulator, finance, ppi, insurance cover, payment protection insurance

Many Welsh travellers fail to take out travel insurance

Research has recently been released by the Foreign Office, with the data suggesting that Welsh people are more likely to be hospitalised when they go abroad than others people in the UK. However, despite this many fail to take out travel insurance cover, potentially causing themselves a great deal of financial harm.

The figures showed that nearly one third of Welsh people had found themselves in some sort of trouble whilst abroad, and this included being arrested, being involved in road accidents, or ending up in hospital. However, around 16 percent of Welsh travellers do not take out any travel insurance cover when they head abroad.

With the summer holiday season just around the corner the Foreign Office is now appealing to consumers to use their common sense and arrange adequate travel insurance cover if they are heading abroad so that they are protected against mishaps such as those outlined above.

The research also found that Welsh travellers spent an average of nearly £12 on magazines, snacks, and drinks whilst at the airport, which is twice the cost of basic single trip travel insurance cover. Welsh travellers were also found to spend the least time arranging travel insurance cover, with the average time being spent doing this standing at twenty one minutes.

Jeremy Brown, the Foreign Office Minister, said: “This report shines a light on the number of Britons who get into difficulty abroad each year. The worrying fact is that so many of these situations are preventable. Helping out Britons in trouble abroad is part of our job, but we can’t get you out of jail or pay your hospital bills. A bit of preparation before you go, such as arranging travel insurance and checking our website, will ensure you get the most out of your trip without bad memories and big bills.”

Tags: travel insurance cover, Wales, Welsh, Insurance, travel insurance

Vehicle insurance related costs soar

It has been revealed in a recent report that costs relating to insuring cars and other vehicles have soared in the UK over recent months, resulting in many drivers who may already be struggling financially due to the cost of living and petrol prices finding it even more difficult to keep their vehicles on the road.

According to the report the costs associated with insuring a car or vehicle in the UK have increased by more than 14 percent in the second quarter of this year. The figures have come from the EMB Car Insurance Price Index and the online insurance comparison site Confused.

The rise in costs associated with insuring a car are much higher than the increases that were seen in the final quarter of last year and the first quarter of this year. In the last three months of 2009 costs relating to insuring a car increased by 4.3 percent, and in the first three months of this year the costs relating to insuring a car increased by 6.3 percent.

The massive increase in costs of over 14 percent seen in the second quarter of this year has resulted in around £74 being added to the average cost of car insurance for drivers. This reflects a total increase of 31 percent according to figures, and brings the average annual cost of car insurance to £599.

Some areas saw costs relating to car insurance rise more than others, and amongst those to be hardest hit were inner London and Manchester. Insurance officials have also said that this is not the end of the bad news for drivers, as many believe that the cost of vehicle insurance could continue to increase, which would mean even higher premiums for many cash strapped drivers.

Tags: quarter, Insurance, premiums, car insurance, end, second quarter

Downturn hits pensions savings

It has been suggested following recent research that the economic downturn and financial meltdown that has been seen over the past couple of years has had a serious negative impact on pensions savings amongst consumers in the UK. Many have found themselves struggling to make ends meet financially, and this means that they have had to make other financial sacrifices, which for some has meant their pensions provisions.

Scottish Widows, the pensions and life insurance provider, carried out the research and according to the results of the study there has been a fall of around 6 percent in pensions savings over the past year, with the total now falling to 48 percent. This is said to be the lowest it has been since 2006.

The study showed that 41 percent of people said that the reason that they had been saving less – or saving nothing in some cases – was due to the economic downturn. Women aged fifty and over were found to have been worst hit, and whilst 52 percent of women in this age group put enough money aside for retirement last year this feel to just 38 percent.

Officials from Scottish Widows said that the effects of the global financial crisis were only just starting to affect the pensions savings market even through the crisis began back in 2007. Many people were found to be failing to put any money aside at all for their retirement, including many of those that were nearing retirement age such as the over fifties age bracket.

An official from Scottish Widows said: “The whole nation is feeling worse off than a year ago and this is really starting to take its toll on pensions savings. While there are signs that the economy is recovering, the nation’s saving habits paint a very different story.”

Tags: scottish widows, retirement, finance, Pension, investment

Cyclists should ensure their bikes

Most of us would never dream of driving or even owning a car without insurance cover due to the risk of accidents, damage, or theft. However, many people who have bicycles fail to get their bikes insured, and this can prove to be a problem in the event that the bike is stolen.

A survey was carried out recently by M& S Money, and according to the results over twenty five percent of cyclists have had at least one bike stolen in the past two years, reflecting the high risk of theft for cyclists. The figures show that over three quarters of adults in the UK have a bike in the home, whether it belongs to them personally or to a member of the family.

The research indicated that the average value of these bikes was around £240. According to officials this makes these bikes a prime target for thieves, and with more and more people getting health conscious and more aware of the environment the number of people that own and use bikes could increase steadily over time.

Officials are now urging consumers to ensure that their bikes are insured so that they do not suffer financially in the event that their bikes are stolen. In many cases this can be done under a home insurance policy, and some policies also cover bikes as standard as long as they are within a certain value.

However, cyclists also need to ensure that they have cover that protects them if their bike is damaged or stolen whilst outside the home, and whilst this may come at an additional cost it will be well worth it in the event that something does happen to the bike.

Andrew Ferguson from M&S said: ‘Cycling can certainly be a popular activity, particularly as the evenings are lighter and the weather is warmer. It is important that if people have a bicycle already, or are considering making a new purchase, they make sure it is covered adequately by their home insurance policy.’

Tags: bicycle, Insurance, bikes, insurance cover, Cycling

Norwich residents urged to ensure home insurance up to date

Residents in the Norwich area of the UK are being urged by officials to make sure that their home insurance is up to date and adequate. The warning comes after several break-ins in the area, which took place at the end of May and the beginning of June.

Whilst most people are well aware of the importance of having home insurance in place many forget to get their policies renewed or fail to ensure that the policy is amended to provide adequate coverage. This can cause big problems in the event of a break in, as the homeowner may find that he or she is unable to make a claim because of lack of coverage.

Residents in the area are being warned to check both their buildings and contents insurance to make sure that it is all up to date and provides adequate coverage. Officials are now stressing the importance of having home insurance policies in place for residents in Norwich, particularly given the spate of break ins that has been seen over recent weeks.

Police are still appealing for information with regards to the break ins, and in the meantime are warning residents in the area to be on their guard and do as much to protect themselves and their homes as they can.

Consumers that are looking for affordable home insurance coverage are able to choose from a range of options these days, and it is therefore possible to get a low cost policy that provides adequate protection. Police have confirmed that a number of high value gadgets and cash were taken in the recent break-ins, so consumers could save themselves a fortune in the cost of having to buy replacement simply by ensuring that they have insurance cover in place.

Tags: norwich, Insurance, police, claim, business, protection, insurance cover, home insurance

Thousands get extension to complain about PPI

It has been reported that tens of thousands of consumers who may be looking to make a complaint about PPI, or Payment Protection Insurance, have been given an extension to the deadline to make their complaint by the UK’s financial regulator, the Financial Services Authority.

The normal deadline for PPI complaints in relation to being mis-sold the cover is six months. However, the FSA has extended the deadline for five months for those whose complaints were rejected by firms between November 28^th last year April 28^th this year. It is thought that around fifty five thousand people could benefit from the extension.

The additional five month period that has been granted by the FSA means that the tens of thousands of people whose complaints were turned down between November last year and April this year now have until towards the end of October this year to complain.

There was a delay in the FSA’s own plans whilst it decided how companies should be made to deal with PPI complaints. However, the regulator did not want consumers to suffer as a result of the delays, and this is why it has decided that it should extend the complaint deadline.

PPI has been at the centre of controversy for some time, and there have been investigations carried out showing that many people were mis-sold these policies, which were often sold to those that did not want them or were under the impression that they had to have the insurance cover in order to get the finance that they wanted.

One consumer said: “I’m glad that the FSA decided to extend the deadline, as otherwise I would have missed out on my chance to complain and possibly get a refund on cover that I believe to have been mis-sold to me.”

Tags: Financial Services Authority, finance, payment protection insurance, investigations, mortgage, delay, ppi, year

England fans need to sort out travel cover

A huge number of lucky England football fans will be looking forward to jetting off to South Africa over the coming weeks to enjoy the excitement of the World Cup, which kicks off in June. Many will already have sorted out their hotels, travel money, flights, and even itineraries.

However, many excited England fans may have forgotten about one very important element of their travel arrangements in the form of their travel insurance cover. With the possibility of things going wrong even before the trip has started, as well as the risk of something happening whilst they are away, World Cup ticket holders are being advised to ensure that they get their travel insurance sorted out sooner rather than later.

High Street retail giant Marks & Spencer, which also deals with financial products including insurance, has said that travellers heading off to South Africa for the football should ensure that they prioritise on getting travel insurance cover if they do not have any in place already.

Officials from M&S said that some travellers may find that they have to make a claim on their cover before they have even travelled, and with people having paid out huge sums of money for their trip to see the football those that do not have cover in place could end up losing out big time.

One insurance industry official said: “People get really excited about trips like this, and they spend aged getting their flights and hotels sorted out. However, many overlook the fact that they need travel insurance cover or tend to leave it till the last minute, and this can cause a real problem if a claim has to be made prior to travel.”

Tags: the World Cup, travel insurance cover, insurance cover, Insurance, form, time one, place, travel insurance

Women fail to cover themselves for critical illness or death

For many people having critical illness insurance cover and life insurance cover is vital so that they can be certain that their loved ones are protected in the event that the worst should happen. Critical illness insurance and life cover provides peace of mind and stability for those that have the cover as well as for their loved ones, and there are many different policies available from a range of providers these days.

However, according to a recent report women in the UK do not seem to be as concerned about covering themselves with critical illness and life cover as they perhaps should be, and this has caused concern amongst some industry officials. A study that was recently carried out by leading life insurance firm Axa Life showed that many women in the UK had no life or critical illness cover in place.

According to the results of the study more than 30 percent of women did not think that they needed life insurance or critical illness cover. The figures showed that only one third of women actually had any life insurance cover in place, and when it came to critical illness cover only 20 percent of women had any cover in place.

Furthermore the results indicated that of those women that did take out life insurance cover and critical illness cover many were underinsuring themselves, which could prove to be problematic for them or their loved ones in the event of critical illness or death.

An official from Axa Life said that women had become more independent over recent years in many ways, including financially, and that they needed to be more aware of possible health problems and take steps to protect themselves financially against unexpected health problems that could seriously affect them and their families.

Tags: Critical illness insurance, life insurance, women, Insurance, AXA

Car insurance premiums experience unexpected fall

It has been reported by a motoring industry group that car insurance premiums have experienced an unexpected fall, although this is said to be a short term reduction, with prices expected to increase again. The data was released by the motoring group the AA, which claims that in the first three months of this year car insurance premiums fell by 3.2 percent.

The fall in car insurance premiums was said to be a very unexpected one, particularly given that over the course of last year car insurance prices increased by 18.7 percent in total, resulting in further financial misery for the many drivers who were already experiencing problems due to other motoring costs. The fall means that the average cost of full comprehensive insurance is now £968.

However, whilst the temporary respite may come as good news to driver, particularly given the soaring price of petrol and diesel at the pumps, the lower prices are not expected to last. The report claims that over the rest of this year drivers are set to be hit with rising insurance premiums once again, and this is likely to continue for the foreseeable future.

It is thought that insurance companies at the more expensive end of the market have been reining in their prices, and this is what has caused the temporary drop in premiums seen during the first quarter of this year. However, the rest of the year will see insurance premiums increase once again, causing more financial problems for motorists.

Those that feel that they are paying over the odds for their cover are advised to shop around and compare prices in order to get a better deal. It is also worth contacting the current insurance company as the firm may be prepared to do a better deal if they think that the customer is going to move elsewhere.

Tags: driver, insurance premiums, finance, Insurance, car insurance premiums

Energy firm switches customers to higher priced tariffs

German owned energy firm NPower has shifted tens of thousands of its customers onto higher priced tariffs in a bid to retaliate at the energy regulator Ofgem. The move comes after Ofgem said that companies must only offer deals to customers that reflect the actual cost of providing the power.

The requirement was made by the regulator in a bid to reduce the cost of energy for many customers. However, Npower has been described as acting ‘petulantly’ by stating that it works both ways and subsequently moving thousands of its customers onto deals that could see them paying up to 25 percent more for their energy.

The supplier, which has over six million customers, said that the changes that Ofgem has made to its licensing requirements has forced it to cancel the deals that have seen customers moved over to more costly tariffs. Whilst some of the customers that have been switched had come to the end of their special deals, others had taken deals that had no expiry date attached and have simply found themselves simply shunted onto poor value deals.

An official from a popular comparison site said that Npower had turned the tables on the regulator but offering its consumers poor deals as a result of the changes when the regulator had been aiming for consumers to get better results because of the changes that it has put into place.

He said: “This is a petulant move from Npower which demonstrates its disregard for customers who signed up to cheaper online tariffs. Ofgem’s guidelines were designed to encourage energy providers to offer all customers equally good deals, but Npower seems to have turned that on its head and decided to offer all customers equally bad ones.”

Tags: tariffs, energy providers, ofgem, Npower, energy

Holidaymakers slate insurance firms over volcanic disruption

Thousands of UK holidaymakers and business travellers have had their plans disrupted following the volcanic ash cloud that has swept across from Iceland, affecting both the UK and neighbouring European destinations. For the first time British air space was effectively closed down due to the risk of damage to plane engines.

However, this left many people stranded in airports and unable to travel, and for many a major concern was being able to get their money back. Whilst airlines have been offering refunds to those that cannot travel because of the natural disaster, there is no compensation available for those that booked DIY holidays in terms of accommodation costs and car hire.

DIY holidaymakers could now end up getting a very raw deal, as although they will get their flight money back they could stand to lose a fortune in accommodation and car hire costs, as well as other related costs such as any excursions that they may have pre-booked.

Many are now turning on their insurance firms, accusing them of hiding behind the defence that the volcano eruption was an ‘act of God’ in order to avoid having to pay compensation to those that have been unable to travel. It is thought that personal losses from the disaster could amount to £20 million, and this is something that insurers will naturally want to avoid paying if they can.

One holidaymaker who was stranded at the airport because of the volcanic disruption said that her insurance company had already said that they would not be paying for her financial losses.

The customer said: ‘We rang our insurance company and they said it was an “act of God”, so they won’t cover us – we’re stuffed.’

Tags: insurance firms, Insurance, holiday, disaster, travel

Consumer protection laws could fail to protect travellers

Over the past couple of years many people that have booked flights and holidays have been shocked to hear that the holiday firm or airline that they booked through has gone bust, leaving them wondering whether they are entitled to a refund in addition to ruining their holiday plans. Read more

Tags: bust, Package holiday, Brits, firm goes bust, travel, travel insurance, couple, consumer protection

Elderly women suffer most with car insurance costs

According to a recent report the demographic group that suffers most when it comes to the cost of car insurance is elderly women. Data from the insurance industry, which was recently released, has shown that from an insurance point of view elderly women are considered more dangerous behind the wheel than young men, and the higher risk is reflected in the cost of premiums charged to older female drivers. Read more

Tags: Insurance, car insurance, insurance premiums, finance, insurance point of view elderly women

Green insurance on offer from M&S

High Street giant Mars & Spencer has branched out into a number of different areas over the years, including financial services and insurance. It has been reported recently that those thinking of taking out cover with M&S insurance services will be able to do their bit for the environment as the retail giant is now offering green insurance cover. Read more

Tags: Mars & Spencer, Insurance, energy bills, Financial services, energy saving, Types of insurance, energy efficiency rating, M&S Money

Skiers need to remember their travel insurance

Industry experts are warning skiing enthusiasts not to skimp on their travel insurance of they are planning to head to the slopes over the coming months. Figures were compiled by the Ski Club of Great Britain recently, and officials from the group claim that more than one million people from Britain will be heading to the slopes in the months to come. However, the group also claims that worryingly nearly 50 percent of these people will fail to take out ski travel insurance. Read more

Tags: travel insurance, travel insurance cover, winter sports, ski travel insurance cover, Insurance, Types of insurance, ski travel insurance, Skiing, snowboarding, Ski Club of Great Britain

Bill for losses from floods could be more than £100 million

It has been estimated that the bill for the losses that were suffered in the recent and devastating floods in Cumbria could come to more than £100 million, according to a recent report. Hundred and homes and businesses were affected after flood defences failed to provide protection when rivers burst their banks in Cumbria, Dumfries, and Southern Scotland, causing devastating levels of damage and huge losses. Read more

Tags: Disaster_Accident, scotland, Insurance, flood, insurance providers, Association of British Insurers, weather

Rising value of instruments could mean increasing insurance cover

Many consumers that have valuable musical instruments take out insurance cover to ensure that should something happen to the instrument, such as damage or theft, they will not have to foot the bill to get it repaired or replaced. However, a recent report has suggested that some instrument owners may need to look at their insurance cover to make sure that it is adequate because the value of instruments has soared during the recession. Read more

Tags: music industry specialist, economics, valuable goods insured, Musicguard, musical instrument insurance, insurance policies, japan

Consumers warned not to cut back on health cover

Consumers in the UK are being warned about cutting back on their health insurance cover in order to save money, with one financial advisor claiming that the benefits of having health cover are too great to simply view this as something that can be cut back on. Read more

Tags: health cover, health insurance, heart, return, health insurance options

Parents keen to take out health insurance for their kids

According to recent reports there has been a rush in the number of parents that are keen to take out health insurance cover for their children, and this follows an outbreak of illnesses that have caused grave concern to parents. Read more

Tags: health insurance, cover, excellent care, national health service, healthcare, nhs, business, kids health insurance

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