Old people ’struggling’ to get insurance
November 3, 2007 by admin
Filed under News, News-Insurance
Ageism is rife when it comes to f”>insurance, according to a spokesperson from Age Concern.
The spokesperson said that many people from the older generation who are still healthy are turned away by insurers.
She explained that one third of people have experiencing age discrimination from insurance companies, with 92 per cent of travel insurance policies imposing upper age limits.
“Someone’s age should not determine whether they are fit to travel. When older people themselves see no barriers to travelling and there are no relevant medical issues then companies should not restrict their activities,” she said.
Furthermore, she continued, insurance companies should be responsive to those who could negatively impact upon their business by looking elsewhere for cover.
Saga claims that the rise in the number of over-50s travelling is proven by the fact their long-haul business has doubled over the last 11 years.
Cost of comprehensive car cover at its highest in two years
July 7, 2007 by admin
Filed under News, News-Insurance
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
