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: valuable goods insured, musical instrument insurance, music industry specialist, Musicguard, 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 insurance, comparison sites online, health insurance options, health cover, critical illness

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: business, nhs, national health service, health insurance, kids health insurance, healthcare

AA report huge hike in car insurance costs

Figures that have been recently released have shown that there has been a huge rise in the cost of vehicle insurance, and the cost of cover could continue to rise. The research was carried out by the AA and showed that the average cost of car insurance has rocketed by a record 14 percent, and it could rise higher still. Read more

Tags: United Kingdom, motor insurance, hike, car insurance, competitive markets

Many older people getting a raw deal with insurance

According to a recent report many older people in Britain are getting a raw deal with it comes to their insurance cover, with many insurers that target older age groups failing to give these consumers a fair deal. Read more

Tags: older clients, Vehicle insurance, car insurance, senior car insurance, fair deal, report, company, British Insurance Brokers Association

Jail for crash for cash insurance scammer

Insurance fraud has been soaring over recent years, and one of the scams that some fraudsters have developed is to have accidents on purpose, making them the fault of the other driver, and then claiming tens of thousands of pounds in insurance money. Read more

Tags: car insurance claims, car insurance fraud, car insurance scams, crash, driver's insurance company, course, crime, Mohammed Patel

Many homeowners could have worthless insurance

It has been revealed that millions of homeowners in the UK could be hanging on to insurance policies that are actually worthless as a result of a loophole relating to past convictions, according to a recent report. Read more

Tags: homeowners insurance, policy, economics, home insurance, group, Household, tiny fine

Rise in burglaries means more protection needed for households

Officials from the insurance industry have spoken out recently about the rise in the level of domestic burglaries during the recession, adding that it has become increasingly important for households to protect themselves from this sort of crime by ensuring that their homes are as secure as they can be. Read more

Tags: crime figures, insurance sector, household theft, rise, burglary rise, recession, whammy

Insurance hike for users of Facebook

It has been announced that higher insurance costs could be applied to those that use social networking sites such as Facebook on a regular basis, because insurance firms see these consumers as being higher risk due to the possibility of personal and sensitive details being viewed by others. Read more

Tags: gain confidence, doubt in my mind, Criminals, facebook insurance, facebook, home insurance, Insurance hike, burlaries

Burglars’ activity rife during recession

On the back of the recent huge robbery at a London Jewellery store, where £40 million worth of loot was taken, industry officials are now warning consumers to be on their guard. Read more

Tags: company, burglary, Insurance, GBP, hassle

Needs of animals grow during recession

The ongoing recession is not only affecting millions of people in the UK, but is also having a negative effect on the lives of millions of pets, many of whom are finding themselves out on the streets because their owners cannot afford to feed and look after them any longer. Read more

Tags: animal help, pet cat, Battersea, emergency, animal welfare, Battersea Cats, pet, dogs

Many travel companies adding unnecessary travel insurance cover

According to some industry experts many consumers who are heading off on their travels are being ripped off by travel companies that are adding insurance cover that is not actually required. Read more

Tags: cancellation, low cost provider, Types of insurance, travel companies, insurance cover, travel insurance, internet, effective suitable cover

Tackling uninsured drivers show some success

Over recent years the insurance industry has been battling to try and combat the financial damage that has been caused by uninsured drivers, and many insurance giants and the insurance industry as a whole have been fighting to crack down on uninsured drivers. Read more

Tags: time, uninsured drivers, insurers, drink driving, Tackling, accidents, Bureau, car insurance

Successful start to car scrapping scheme

The car scrapping scheme that was launched by the Labour government last month has shown initial signs of success according to recently released figures. Read more

Tags: scheme, industry, car insurance, official, showroom traffic, Labour, monthly registrations data, new cars

Insured patients being charged hundreds of pounds more for cover

A recent report has claimed that patients with insurance cover are being charges hundreds of pounds more for treatment by a private hospital chain simply because they have insurance. Read more

Tags: insured patients, private hospitals, increase, position, transparency, patient, charities

Lying motorists to be weeded out by insurance firms

It has been reported recently that motorists that try and hide or lie about convictions when they apply for insurance cover are to find themselves at the centre of a crackdown by the insurance industry. Read more

Tags: car insurance fraud, Driving, better deal, insurance industry official, car insurance, insurance cover, economics

Unemployment rises at lower than expected rate

Recently released figures have shown that the level of unemployment rises have been lower than expected, adding to the variety of encouraging data that has been seen in a variety of recent report lately. Read more

Tags: unemployment levels, recent report, Global, highest rate, city forecaster ihs, unemployment rates, fresh school leavers, unemployment

PPI ban could mean higher fees and charges

It was announced recently that regulators are planning to stop the sale of the controversial single premium Payment Protection Insurance policies from lenders in 2010, and in fact in a bid to stop the sale of these policies regulators actually contacted lenders last month asking them to stop selling single premium PPI by the end of last month. Read more

Tags: single ppi policy, credit card insurance, loan insurance, ppi, payment protection insurance

Drivers making cutbacks to afford petrol

It has been reported that many drivers in the UK are being forced to make cutbacks in other areas in order to pay for petrol costs. Read more

Tags: West Midlands, petrol price, saving fuel, driver savings, research

Car scrapping scheme could run dry of funds early

It has been announced that the car scrapping scheme that the government put into place after the budget could run out of money six months earlier than anticipated. Read more

Tags: cars, result, car scrapping, report, car, scrapping, scrap cars, advantage

Claims figures show BMW drivers not worst on road

According to a recent report many motorists think that the worst drivers on the road are those that drive BMWs. However, recently released figures relating to insurance claims have suggested that this is not the case. Read more

Tags: respondents, rush hour drivers, bmws, car accident, insurance claims, car insurance, Ford, area

Advert with Iggy Pop gets the chop

A controversial advertisement that starred the rock icon Iggy Pop has been banned following complaints from those that wanted to sign up to the service. The advertisement was for Swiftcover insurance, and the rock star appeared on the advertisement stating that he had been swiftcovered and suggesting that others do the same thing to save themselves time and money on their insurance cover. Read more

Tags: iggy pop, tv commercial, swift insurance, ASA, advertising

Drivers warned against munching at the wheel

Although many drivers would not think twice about eating a snack whilst driving or taking a drink of water or pop, a recent report has revealed that actions such as these could be construed as driving without due care and attention by insurance firms, and as such drivers that are caught doing this could face insurance premium increases of up to 40 percent. Read more

Tags: eating while driving, driving safety, car insurance, whilst driving, road accident, Financial economics, drivers, insurance premium increases

Huge depreciation in new cars in three years

Industry officials have recently said that the depreciation seen in new cars in the space of just three years could mean that for many consumers the £2000 car scrappage scheme introduced by the government may actually leave them worse off. Read more

Tags: car depreciation, Honda Jazz, shortage, industry officials, Business and Economy, residuals, consumers, scrap cars

Cash may run dry for those interested in scrapping their old cars

Following the budget last month, the Chancellor of the Exchequer, Alistair Darling, announced the launch of a car scrappage scheme. The scheme was designed to encourage motorists to get rid of older, environmentally unfriendly vehicles and buy new vehicles that were greener and more reliable. Read more

Tags: scrap old cars, government, amount, old cars, money, one million, flagging motor industry, buying

Recession causes insurance fraud to soar

According to a recent report the level of insurance fraud has been rocketing as a result of the bleak financial climate and the recession. A report was recently released by the Association of British Insurers, and officials from the ABI have said that in 2008 the number of attempts to defraud insurance companies increased by 17 percent compared to 2007. Read more

Tags: report, premiums, insurance cheats, insurance claims, road, Association of British Insurers, insurance fraud, Recession causes insurance

Insurance policies being compromised due to credit crunch

There are many different ways in which UK households are trying to cut back on their monthly outgoings in the current financial climate, as most people are struggling to make ends meet properly due to their finances. Read more

Tags: different ways, Association of British Insurers, insurance policies, financial climate, insurance cover, insurance fraud

Ban on age discrimination could cost drivers and travellers

According to a recent report both drivers and holidaymakers could find that the cost of getting insurance will soar as a result of a government initiative to try and ban age discrimination in these industries. Read more

Tags: respect, holidaymakers, cost, travel insurance, Association of British Insurers, car insurance, government, whilst

Twelve hundred jobs to be cut by insurance giant

The ongoing recession in the UK has brought with it many job losses, and many have already lost their jobs over recent months with many others facing an uncertain future with regards to their jobs. Read more

Tags: RSA Insurance Group, Many major firms, support, job losses, bust

Musicians unable to get cover from insurance firm advertised by Iggy Pop

Over recent weeks many people have seen the new advertisement being run by a major insurance company featuring a the well known and iconic rock star, Iggy Pop Read more

Tags: iggy pop insurance, run, musician, musician insurance, customer services operator, case

Couples that get married need to advise their car insurance company

Industry experts have recently urged couples that get married to let their car insurance companies know, stating that if they fail to do this they could be missing out on significant savings on their car insurance premiums. Read more

Tags: economics, car insurance premiums, Usage based insurance, significant savings, Business and Economy, car insurance, marriage and car insurance

Compensation for Standard Life clients

In a recent report it has been revealed that Standard Life will indeed by compensating a number of its policyholders following controversy over its Pension Sterling Fund, which recently hit the headlines after policyholder suffered losses and industry groups claimed that the literature that Standard Life had sent out was misleading. Read more

Tags: pension sterling fund, Pension, investments, opportunity, funds, Business Finance, policyholder suffered losses

Victory over bank sales of PPI

Over recent years there has been a lot of controversy over single premium payment protection insurance cover. Whilst much of the concern has been related to the way that this type of insurance cover has been mis-sold by many lenders and providers, there has also been a lot of concern relating to the cost of single premium PPI. Read more

Tags: Lloyds Banking Group, payment protection insurance, useful type, PPI product, Types of insurance, ppi, PPI victory, alliance

Consumers warned over belongings in care homes

Consumers have been warned to be careful about belongings that are in care homes, as they may not be automatically insured against theft, loss, and damage. Read more

Tags: addition, expensive jewellery, damage, college accommodation, Insurance

Record lows on cost of life insurance

According to recent reports the cost of taking out life insurance are falling, and over the past decade has fallen by around 30 percent. Read more

Tags: number, lifesearch, Financial services, life insurance, smokers

Increase in burst pipe claims due to colder weather

Recent reports have shown that the colder weather that has been seen in areas of the UK over recent weeks is resulting in a double whammy for many consumers. Read more

Tags: Heating, surprise, cold weather, level, insurance providers, insurance official

Insurance firms get tough on drinkers

According to recent reports some insurance companies are getting tough with consumers that drink more alcohol than the amount recommended, penalising them in terms of how much they have to pay for their cover. Read more

Tags: hiking, life insurance, pressure, alcohol insurance, drink, recent reports, alcohol

An increasing number of insurance applicants telling lies

Every year many people apply for a variety of different types of insurance cover in the UK, from home and car insurance cover to life and income insurance cover. However, according to recently released figures there has been a sharp increase in the number of people that are telling lies on their insurance application forms in order to get a better deal on the cost of their insurance cover, and officials have stated that it is the honest consumers that are going to end up paying for these lies. Read more

Tags: insurance lies, United Kingdom, application forms, driver, finance, abi

Drivers breathe sigh of relief over petrol prices

Over the past six months things have become more and more difficult financially for households in the UK, with a range of soaring costs making it harder and harder to make ends meet. Amongst the rising costs that consumers have had to put up with are rising energy bills, soaring food prices, and rocketing petrol prices. However, there is a little bit of good news on the horizon for drivers, and this is that petrol prices are at last starting to come down. Read more

Tags: food, petrol prices, bit, past year, country, tough time

Increase in PPI complaints results in further investigation

According to a recent report a huge rise in the level of complaints being received in relation to PPI, or payment protection insurance, has resulted in calls for further investigation into the sale of this type of insurance cover. This cover is commonly sold alongside credit such as loans and credit cards, and the purpose of the cover is to meet repayments on the debt for a set period of time if the policyholder cannot work due to sickness, injury, or redundancy. Read more

Tags: industry group, work, financial ombudsman, redundancy, investigation, fsa, financial industry

Norwich Union pulls out from comparison sites

Insurance giant Norwich Union has recently announced that it is pulling out of placing deals on price comparison sites. Many insurance providers allow their deals and packages to be viewed on one of a range of price comparison sites that have come into play over the past couple of years. A large number of consumers use these sites to see at a glance whether they can cut the cost of cover or to find the most competitive insurance deals. Read more

Tags: move, leading insurance, norwich union, Website, use, insurance giant, price comparison sites, uswitch

Whistleblower claims – “Employees at RBS being trained to lie”

According to an insider from the Royal Bank of Scotland employees at the bank are being trained to lie in order to stop customers from cancelling the Payment Protection Insurance on their credit cards. The whistleblower is apparently from the bank’s Customer Loyalty Team, and said that employees are trained to use a number of practices to stop customer from cancelling PPI on their credit cards. Read more

Tags: cancel accounts, ppi, ongoing investigation, authority, consumer, rbs, Credit card

Massive fine for insurance broker over cancelled policies

A well known insurance company has been accused of treating customers unfairly, and as a result has been fined £735,000 by the Financial Services Authority, the UK’s financial regulatory body. The insurance firm, Hastings Insurance Services Ltd, was found to have cancelled the policies of customers after finding that the cover had been sold to the customers too cheaply due to a computer error. Read more

Tags: finance, Insurance, error, industry watchdog, watchdog, new car, Hastings Insurance Services Ltd, insurance firm

Fully comprehensive insurance is no longer fully comp

Motorists in the UK have always enjoyed a choice of insurance policies to match their needs and their pockets, and those able to afford higher premiums and who want increased protection have often opted for fully comprehensive insurance cover, which provides the highest level of protection and cover. However, according to a recent report fully comprehensive cover has been modified and changed so much over recent years that it is now fully comprehensive in name only, and consumers are often not getting the protection that they may think they are. Read more

Tags: car insurance, party, arrangement fees, motorists, insurance policies

Fraudulent motor insurance claims come to five million a week

According to a recent report motor insurance bodies have discovered fraudulent motor insurance claims that are amounting to around £5 million a week in terms of value. Officials from the Association of British Insurers said that last year around twenty four thousand fraudulent motor insurance claims were uncovered, and these amounted to £260 million, which equates to £5 million a week. This reflects the level of the problem when it comes to fraudulent insurance claims, both in the motor insurance sector and other insurance sectors. Read more

Tags: motor, fraud, Business and Economy, insurance industry faces, risk, criminal record

More people opt for private healthcare

A recent report has shown that an increasing number of people are now opting for private healthcare cover rather than relying in the National Heath Service, reflecting the concerns that many have when it comes to NHS care. The survey showed that many of the people switching to private healthcare cover have stated that their reason for switching was fear of super bugs such as MRSA. Read more

Tags: Healthcare reform, sophisticated consumers, Association, decline, momentum, Private healthcare

Drivers ‘failing to check cover for Europe’

More than 4.3 million Britons plan to drive their vehicles to Europe this summer but many fail to inform their insurer, a report has revealed.

Research published by car insurance supplier Sheila’s Wheels shows almost half of motorists now take their cars when holidaying in Europe, rather than choosing to catch an aeroplane.

Furthermore, 15 per cent of drivers admit simply assuming they are covered for driving overseas and would take their cars to Europe without checking.

It discovered that 18 per cent of people would check their documents before taking their cars abroad and only ten per cent would phone their insurance providers to check their cover was valid.

Jacky Brown at Sheila’s Wheels car insurance said: “When planning to take a car to Europe, it is crucial for motorists to call their insurer and tell them that they want to extend their level of cover for driving abroad.”

Sainsbury’s Bank also published research this week suggesting that 17 per cent of people plan to take their motors abroad during the next year.

Tags: Insurance, published research, planning, europe, checking, Automobile, plan, britons

Summer tennis may see ‘more home insurance claims’

Home insurance claims involving broken windows may increase in the run-up to the Wimbledon tennis championships, it is claimed.

The number of claims made in June last year for broken windows and other glass breakages was almost a fifth higher than the number of claims made in January of the same year, according to the Halifax.

People in Birmingham and Solihull made more home insurance claims in 2007 than anyone else for incidents involving broken glass, the data suggests.

Head of underwriting for Halifax Home Insurance David Rochester said that there is often an increase in these types of claims during the summer months.

He commented: “We’d advise any budding Murrays and Sharapovas to take care when playing ball sports close to home, and check they are insured for accidental damage should a mishap occur.”

Separate research revealed last week by Tesco personal finance suggests that messing around or horseplay results in damage worth £325 million to British homes each year.

Tags: Insurance, care, solihull, summer, personal finance, tennis, wimbledon, underwriting

People ‘to spend less on insurance’

Consumers are hoping to reduce their spending on insurance products, research suggests.

Among consumers who buy insurance through price comparison sites, 26 per cent are looking to reduce their insurance spending, according to the survey commissioned by business advisory firm Deloitte.

One-fifth of those who hope to reduce their spending on insurance aim to cut their payments on payment protection insurance (PPI), which provides coverage if the borrower is unable to make repayments on products like loans, mortgages and credit cards in the event of ill-health, unemployment or death.

David Rush, insurance partner at Deloitte, said: “At a time when households have less disposable income, it is understandable that many will look at how they can reduce their spending.

“However, consumers should think carefully about which types of insurance they most need in a down-turn.”

Mr Rush suggested that people are most likely to need PPI cover if the economy enters a difficult period.

In related news, Sainsbury’s Bank has suggested that consumers should check with their car insurance provider before they drive abroad to ensure that they are fully covered.

Tags: Credit Cards, insurance aim, need, credit, car insurance, comparison, period.In related news, One-fifth

Garden thieves take average of £291

People who leave their gardens and sheds unsecured can expect to lose an average of £291.30 if someone breaks in, according to Sainsbury’s Home Insurance.

Neil Laird, manager at the company, said that the number of burglaries of gardens is on the up and homeowners should be wary of leaving their garden sheds unlocked.

According to Confused.com, people leave an average of £800 worth of items in their garden sheds.

Furthermore, Mr Laird warned that some homes may be targeted by burglars more than once.

“Homes seen to have ‘rich-pickings’ that are left unsecured, may be targeted again so as well as tightening up security, it’s worth picking a home insurance policy that allows you to benefit from and protect your no claims discount,” he commented.

According to the research from Sainsbury’s Home Insurance found that 11 per cent of items stolen from gardens are worth between £401 and £1,000.

Tags: Confused.com, burglaries, home, garden, Sainsbury's Home, Sainsbury's Home Insurance.Neil

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