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.”

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Cut back on your vehicle insurance costs

It was recently reported that the cost of car insurance in the UK has soared recently, with industry groups claiming that there has been a 14 percent rise in vehicle insurance related cost in the second quarter of this year. These increases are something that most drivers can ill afford, particularly considering the financial strains that most people are under due to the difficult financial climate, the after-effects of the recession, and the high price of essentials such as petrol and food.

Of course, having insurance cover in place is a legal requirement for drivers, and no driver should be on the road without having some form of cover in place. However, it is important to remember that there are different levels of insurance cover to choose from, and you may find that the vehicle that you have does not require the more comprehensive and costly cover.

If you have an older car that is not worth much in terms of monetary value there is little point opting for the fully comprehensive cover, as this will work out more expensive and you will get very little back for your car in the event that it is written off in an accident because of its low value. On the other hand if you have a newer, higher value vehicle it is best to opt for comprehensive cover as otherwise you would be shelling out a fortune in the event that you had an accident that was your fault.

It is also important to remember that the excess levels that you choose will affect the cost of your cover. This is the amount that you have to pay from your own pocket in the event of a claim, and insurance firms tend to offer a number of choices. If you go for the lower excess then you will not pay as much yourself in the event of a claim, but with the higher excess you can take a risk and cut the cost of the cover.

Comparing deals is vital in order to reduce the cost of your vehicle insurance, and this is something that can be quickly and easily done these days using the various comparison websites available online. You will be surprised at how much you can save simply by comparing deals. In some cases you can even reduce your insurance costs by phoning your insurance company and stating that you are considering going elsewhere. The competition amongst insurers is stiff, and many will negotiate a discount in order to keep your custom.

Tags: insurance costs, Vehicle insurance, insurance cover, car insurance, 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, second quarter, United Kingdom, Vehicle insurance, end, premiums, Insurance

Retail giant may move into banking

Over recent years a number of well known retailers and supermarket giants have started offering various financial services, such as insurance services, credit cards, and even loans. Marks and Spencer, for example, has its own M&S Money sector and supermarkets such as Sainsbury’s and Tesco have been offering financial products for some time. One supermarket giant, Tesco, has recently announced that it is moving into the banking sector through offering full banking services, which will be rolled out over the course of this year. Read more

Tags: supermarket giants, Sainsbury, financial products, car insurance, insurance services

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

Why you need to shop around for car insurance

It has always been important for drivers to ensure that they shopped around for their car insurance. With so many insurance companies saturating the market competition in the vehicle insurance industry has always been very stiff, and for consumes this has meant that there are some very affordable deals available from insurance firms that are looking to provide the best deals in order to gain increased custom. Read more

Tags: car insurance, result, level, car insurance quotes, compare car insurance

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: better car, car insurance costs, United Kingdom, hike, 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: Vehicle insurance, report, company, British Insurance Brokers Association, fair deal, car insurance, senior car insurance

Are you being charged a fortune in interest on your insurance?

Buying insurance cover for your vehicle is already an expensive affair, and whilst there are different levels of insurance cover to cater for different needs and pockets there is no doubt that the cost of vehicle insurance cover overall has been rising for a number of different reasons, including the heightened level of insurance fraud in the current climate, which unfortunately honest drivers usually end up picking up the tab for. Read more

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How younger drivers can save money on car insurance

For younger drivers the cost of insuring a car can be high at the best of times, but in the current financial and economic climate, when money is tight for everyone including younger consumers, many may be hoping more than ever to try and save money on the cost of this expensive insurance cover. Read more

Tags: climate, consumers, younger drivers, car insurance, claim, vehicle, Driving test, young drivers

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: car insurance, Bureau, time, Tackling, accidents, uninsured drivers, insurers

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

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: insurance industry official, car insurance, Driving, better deal, Association of British Insurers, economics, car insurance fraud, insurance cover

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: area, rush hour drivers, respondents, bmws, car insurance

Cut Down On Car Insurance by Stopping to Eat

Did you know that eating while driving can cause you to pay higher premiums for your car insurance? Drivers who are caught munching while driving can face increases of as much as £200 when their car insurance policy comes up for renewal. Read more

Tags: driving risks, car insurance, london, transgressions, individual policy basis, eating while driving, Ian Crowther, Neil Walker

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

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

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

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: Financial services, Vehicle insurance, car insurance, arrangement fees, comprehensive insurance, motorists, insurance policies, party

Young Adults And Car Insurance

As young drivers enter into their twenties they may become eligible for better insurance rates. However, many drivers who were once on the same policy as their parents stick with the same insurance company when it comes time to carry their own policy. This is unfortunate since there is a very good possibility that another company may offer young drivers a far better deal. Read more

Tags: rate, rating, car insurance, offer, Financial services, decrease rates, finance

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, need, comparison, Credit Cards, One-fifth

How younger drivers can save money on their car insurance cover

For many years younger drivers have been penalised because of their age and inexperience when it comes to getting car insurance, and for many younger drivers the cost of cover can be crippling. Read more

Tags: insurance cover, Insurance, car insurance market, young person car insurance, car insurance, sporty design, insurance companies

What to look for with car insurance

Car insurance is a compulsory form of insurance cover for drivers in the UK that are taking their vehicles out on the road. Read more

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Quarter of Brits ‘hide insurance info’

More than one fifth of British motorists admit they have intentionally kept quiet about motoring convictions and license points to their car insurance provider, to avoid premium hikes following policy renewals.

Confused.com has found that although 96 per cent of motorists are aware that lying to the insurance company could result in invalidated claims, 21 per cent of drivers would be happy to take the risk and hope that they don’t get caught.

Debra Williams, managing director of the comparison site, warned drivers: “Insurers take a dim view of people who don’t update them immediately should their circumstances change.

“Changes in job title or annual mileage may seem insignificant to most drives, but this can significantly affect your premiums. If you are caught lying about your details, your insurer can reduce your pay out and may even refuse to pay at all.”

A report commissioned by the Association of British Insurers earlier this year revealed that fraudulent claims on car insurance, something one in ten (five million) drivers admitted to, push up average premiums by £40 a year.

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ABI says younger drivers “should have year of lessons”

Younger drivers – traditionally a higher risk when it comes to car insurance – have been recommended to take a full year of lessons before their test.

The advice, from the Association of British Insurers (ABI), would in effect raise the driving age limit in the UK

A one-year rule of sorts is already in place in other European countries, with the ABI citing Sweden in particular as a positive example for the UK to follow.

Association spokesperson Malcolm Tarling said: “We suggest a minimum of one year pre-test driving experience before you get to the stage of taking your test.

“The overall aim is to reduce the number of young newly qualified motorists and their passengers that die or are seriously injured on the road.”

He added: “The key thing is to ensure that young drivers, once they have passed their tests, are better equipped to be in control of a potentially lethal weapon.”

The ABI’s position is backed up by recent research from the House of Commons Transport Committee.

It reported last month that adoption of a one-year training programme prior to all UK driving tests would reduce the UK’s road accident rate.

Statistics from the Department for Transport show that 3,150 people were killed on roads in the UK during 2006.

Tags: car insurance, Department for Transport, abi citing sweden, test, house, UK driving tests, driving age limit

By The Mile Car Insurance – the way of the future?

Who do you think should be paying more in motor insurance – someone who drives 50,000 miles a year, someone who drives 15,000 miles a year, or someone who only drives 6,000 miles a year? The actual answer: none of the above, in most cases UK car insurance providers do not consider the number of miles you drive each year as being important when determining your motor insurance premium. However, insurance may be changing. Read more

Tags: policyholders, by mile car insurance, car insurance, finance, mileage car, United States

Roadside Breakdown Car Insurance

Regardless of how carefully we take care of our car, just when we least need it the car will breakdown in the middle of nowhere. If you do not have roadside breakdown car insurance, be prepared to pay a heft repair bill and to be personally billed for all the ancillary costs. Read more

Tags: Vehicle insurance, car insurance, roadside breakdown insurance, call, roadside breakdown car insurance policies

Getting Cheap Car Insurance Online

According to a recent survey undertaken by the AA, 75 percent of us will head directly to the internet to check out online car insurance quotes before we decide whether or not to renew our existing policy. However, out of that 75 percent, 60 percent of us spend less than three minutes checking out competitive cheap car insurance quotes online and, unless we see an immediate reduction in our car insurance policy of at least 10 percent or more, we won’t bother looking any further! Read more

Tags: different car insurance, finance, cheaper car insurance, internet, choosing car insurance, survey

Why Are Female Car Insurance Quotes Cheaper Than Men?

As every man likes to remind his woman, women cannot drive as well as men can. Call up a UK insurance company, or get a UK car insurance quote online, however, and the cost of the car insurance premium for exactly the same car is likely going to be cheaper for the woman than the man. So, if woman cannot drive as well as men, how can that be so? Read more

Tags: car insurance premium, traffic laws, respect, Drunk driving, women drivers, car insurance

How Are Car Insurance Premiums Calculated?

At times trying to determine how car insurance companies calculate your car insurance premiums can seem nonsensical – after all, phone 3 different car insurance companies and they’ll give you 3 different quotes for agreeing to insure your car! So, if you have ever wondered how the premiums on your car are calculated, wonder no more! Read more

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Breakdown insurance, is it worth the money?

Many drivers worry about their car breaking down in the middle of a motorway, isolated area or even a town, but is it worth spending money on separate insurance for those “just in case” moments? Read more

Tags: motor, RAC plc, breakdown insurance, Driving, roadside assistance company

No Claims Bonuses: how they work

Car insurance companies in the UK incorporated a program called a No Claims Bonus or No Claims Discount. The meaning behind these programs is for the consumer to help lower their car insurance premiums. Read more

Tags: car insurance company, Driving, discount maximum, no claims discount, claim bonus, no claims bonus, car insurance, Admiral Group

Theft : A Vital Part of Car Insurance

Car theft has increased in the UK and more than a 100,000 cars are being stolen a year. The insurance claims for car theft are 1 policy claim out of 20, and the car insurance companies want drivers to realize the need to protect their vehicles from these incidents. The more claims made to an insurance policy, the higher the premium. Read more

Tags: car insurance, car theft, United Kingdom, theft, luxury cars, owner's keys

Save On Your Car Insurance Premiums

There are various ways to save money on your car insurance:

The first, which may be apparent to many people is to shop around. Read more

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No Claims Bonus

Information about your car insurance no claims discount:

A no claims bonus can significantly reduce the cost of your car insurance cover. If you have never heard of the no claims bonus, or are unsure as to its workings or methodology it can be explained as follows: Read more

Tags: no claims discount, young drivers, older drivers, no claims bonus, risk

No Claims Discount – What Is It?

A No Claims Bonus is basically the same as a No Claims Discount, but technically one results in the other. Either way, they make a heck of a difference to how much your car insurance costs. Read more

Tags: car insurance costs, car insurance, hefty wedge, insurance policy documents, no claims discount, price, option, maximum

Where Is The Best Place To Get Car Insurance?

The world of car insurance is almost as vast as financial services in general. Everywhere you look there are companies advertising insurance. So where do you go to find the best deals? Read more

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