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

Insurance firms could face huge losses

According to a recent report the insurance industry could be facing huge losses as a result of the global credit crunch, with tighter household finances forcing many consumers to either downgrade or cancel their insurance cover in order to make ends meet each month. A survey was carried out by officials at Deloitte, and showed that around one if every four consumers were planning to either cut or cancel insurance cover in order to save money at what has become a very financially turbulent time. Read more

Tags: housing, Insurance, payment, level, global credit crunch, poll, party, savings insurance

Wedding insurance ‘worth investing in’

Wedding insurance is ‘competitively priced’ and ‘well worth investing in’, Marks & Spencer said today.

The retailer stated that insurance ought to be taken out as soon as any money towards the wedding had been spent – which could be as much as two years before the event.

The range of cover which the insurance generally offers – including everything from cancellation and contractual disputes to wedding cake damage – was cited by Marks & Spencer in its recommendation of the service.

Spokesperson Liz Neild said: “The only thing that isn’t covered is what is politely called ‘disinclination to marry’ by either the bride or groom – so [if you] change your mind it doesn’t cover you. But there’s a whole raft of other things it does cover you for.”

Ms Neild added that the retailer also offers a free stress counselling service for members of the wedding party. “Apparently one of the biggest [worries] is seating plans”, she added.

Wedding insurance is a growing part of the market, with its introduction to the high street dating only from 2002.

However, with the average wedding in the UK now costing a massive £15,244 – and with that figure rising to over £18,000 in London – financial compensation if things go wrong has become more important for the average consumer.

Tags: contractual disputes, Spokesperson Liz Neild, wedding party, retailer, cover, wedding cake, party, free stress counselling

Cost of comprehensive car cover at its highest in two years

According to recent reports those purchasing comprehensive vehicle insurance on the direct market are having to pay the most expensive premiums for two years.

The research was carried out by Experian, and indicates that in May of this year comprehensive vehicle insurance premiums rose by nearly 8 percent compared to the same period in 2006. There are a number of factors that can affect the cost of premiums, including age, past driving convictions and claims, and the make and model of the vehicle being insured.

The research also indicates that consumers could find it cheaper to get comprehensive cover on the intermediary market rather than through the direct market.

Even policies from the intermediary market are at their highest in nearly a year for those looking for comprehensive cover, but these are still likely to be a fair amount cheaper than direct market policies, with the average cost for a comprehensive policy in May of this year coming in at £530 compared to £560 through the direct market.

The report also showed that the cost of third party, fire, and theft cover was higher in both direct and intermediary markets, and it is thought that one of the reasons for this is because this type of policy is typically taken out by younger drivers due to affordability of comprehensive cover, which pushes up the cost of premiums.

Those looking for car insurance cover in either market are advised to shop around, as the cost of cover can vary quite widely from one insurer to another. This can be done through a price comparison website as well as by searching through individual insurers online, although the latter is likely to take more time.

Tom Smith
7th July 2007

Tags: fire, prices, third, cost, party, comprehensive, Insurance

Burns night warning

Scots have been warned to be careful as they celebrate Burns Night.

Zurich Insurance says that a large number of claims are made following the celebrations, as partygoers become slightly over zealous and cause damage to their homes.

According to the firm, 32 per cent of Scottish parents who celebrate the night suffer domestic damage.

With the annual claim reaching more than £100, Zurich says that it is vital people take out adequate insurance to cover any mishaps.

“If people are planning to celebrate Burns Night with a party at home, it’s worth taking a few minutes to check their insurance policies – possibly even considering extending the protection for their contents to include accidental damage,” said Martin Hall from Zurich.

The firm says that stained carpets and damaged furniture are the most common casualties of such parties and it believes that people should be free to celebrate without the concern of having to pay for any damage.

“By making sure they have the right policy in place, they can let their hair down, and have a worry free Burns Night,” added Mr Hall.

Burns Night is a celebration of the poet Robert Burns, the man who wrote Auld Lang Syne.

Tags: Scottish, Financial services, warning, Scottish literature, Hall, GBP, common casualties, party

Making a Car Insurance Claim

Having an accident and making a claim on your car insurance Read more

Tags: business, day, reality, party, Disaster Accident, sense, car insurance claim, stage