Is it cheaper to be on the road now compared to twenty years ago?

Ask any driver and they will most likely tell you that the cost of keeping their vehicle on the road is extortionate. The cost of petrol is a major contributory factor, with petrol prices having rocketed by an incredible amount over recent months. The cost of insuring a vehicle has also gone up considerably, and many pay hundreds of pounds even for the most basic cover on their vehicle these days. Add to this the cost of buying a vehicle in the first place and the cost of servicing, MOTs, tax, and repairs, and you could find yourself shelling out a fortune each year to be on the road. Read more

Tags: half, wheel, motorists, worrying, factor

London’s size responsible for title of worst city for card fraud

The size of London and its population are the main reasons behind its recent labelling as the UK’s worst city for credit and debit card fraud, one financial expert claims.

According to payments association APACS, the fact that there are more cards in issue in London and therefore more transactions and more retail outlets are the reasons behind the city being crowned the UK’s “fraud hotspot”.

Mark Bowerman, a spokesperson for APACS, said that despite the difference between regions in the numbers of people, ways of consumers protecting themselves against card fraud are the same.

“As long as you are a cardholder who’s following common sense precautions you can minimise the chances of yourself becoming a victim; and [they are] the same steps to take whether you’re in London or in Yorkshire,” he added.

New research from the CPP Group revealed that London has overtaken Birmingham as the worst city for credit and debit card fraud.

In only a year, the capital city has risen from fifth to first position in the UK’s top ten of card fraud hotspots.

Tags: common sense, cpp group, victim, economics, payments association, issue, CPP, fraud

OFT calls for more protection for elderly consumers

The Office for Fair Trading (OFT) has launched a campaign to help protect elderly consumers from becoming victims of scams.

Findings from the body revealed that older consumers are likely to lose twice as much as other consumers who fall victim to offers such as bogus lotteries, deceptive prize draw and sweepstakes.

Mike Haley, OFT Director of Consumer Protection, said that scammers use sophisticated psychological techniques to target the more vulnerable members of society such as those afflicted by illness or who are socially isolated.

“Those who fall for these scams not only lose their savings, but often live in fear, suffering debt and depression and are too afraid to tell anyone of their plight,” he added.

OFT has unveiled a new leaflet for carers and care professionals, ‘Can you stop the person you care for from being scammed?’ and an accompanying leaflet, ‘Don’t Let them Con You’ to try and increase awareness of scammers.

According to research, up to three million consumers fall victim to scams every year which is estimated to cost the public £3.5 million.

Tags: draw, sweepstakes, try, victim, Awareness, Con

‘Common room valuables’ may not be covered

As the academic year gets underway for thousands of students, one organisation is warning them to keep an eye on their belongings or risk losing out financially.

Graeme Trudgill, technical services manager for the British Insurance Brokers’ Association, said that items left in communal areas like the kitchen or living room may not be included in some insurance policies.

“Don’t leave valuable items where they’re visible through windows, and they need to keep their laptops and things in their locked room when they go out,” he advised. “If it’s stolen from a communal area, it may not be covered.”

According to the London Student Housing Guide, the average cost of a student burglary is £900 – and what’s more they are more at risk than other Britons.

“Students are three times more likely than the average homeowner to be burgled,” Mr Trudgill said. “One in three students fall victim to crime each year.”

A separate report from Abbey revealed recently that each student will have on average £3,300 worth of possessions with them at university.

Tags: home insurance, victim, Common room valuables, the London Student Housing Guide, Don, insurance policy, burglary, technical services manager