Car Insurance Gearing Up To Drive Down Costs
|
For once finances seem to be going in favour of the UK motorist, with Esure announcing plans to double its share of the UK's car insurance market - a move which is likely to spark a price war, other internet-only direct insurers passing on to consumers savings based on their low overheads, and specialist insurers offering reduced rates for their particular target markets. A trial pay-as-you-go scheme from Norwich Union is also creating a lot of interest for money conscious motorists.
The pay-as-you-go scheme uses a small box costing an initial £199 which is fitted in the driver's boot, to record when and for how long a driver actually uses their car. The box stays in contact with a satellite which is sent regular updates of the journey data stored on the box, tracking the vehicle and then delivering the information to the insurer. The driver is then charged based upon how far at what time they used their vehicle.
"We got a statement", said one member of the trial, "which showed what mileage we had done, and on what days of the week, as well as if we had been driving in the evenings or peak hours."
For low mileage users, this system could present significant reductions in premiums, for higher mileage drivers searching about for the best deals at renewal time is an absolute must.
Unfortunately, last year five million motorists failed to shop around, missing out on an average premium saving of £180. Shopping around becomes especially important for anyone coming to the end of a free insurance offer on a dealership car and should not simply take the quote offered by the manufacturer's insurer, as significant savings can be made by shopping around. Comparisons sites such as Moneynet enable consumers to quickly look at hundreds of insurance providers in one go, making it easy to find the best deals that are available, and they often have their own extra discounts which are provided through their own sites.
While the government tries to work out new ways to extract more money from motorists, the competitiveness of the insurance industry is thankfully helping to drive down the cost of insurance premiums, making it one of the few rays of hope for UK drivers.
Richard works in Edinburgh for a media company, occasionally writing for the personal finance blog Cashzilla, and drinking too much coffee.
|
|
|
Insurance For Car Wash Fundraisers
Non-profit groups in this day and age need to watch out for lawsuits, as it is an unfortunate reality. Having a good event insurance policy can protect your non-profits funds from such a lawsuit in the event of a mishap or professional slip and fall con artist. Yes they are out there and they will target your group if they think that they can make some money in a lawsuit. It is sad state of affairs even thinking of this, but you need to protect yourself and your group.INSURANCE REQUIREMENTSUsually a gas station has an umbrella insurance policy to cov...(related: Insurance)
Reducing Soaring Insurance Claim Costs
With the soaring rise in claims to insurers from their customers, millions of pounds are being lost on a day to day basis throughout the industry in regards to personal property insurance. A new system in the UK provides insurance companies with an easy and effective method ...(related: Insurance)
Origin Of Long Term Care Insurance
In the early 1980's Medicare started using a system called the diagnosed related group of guidelines for advance payments to hospitals. This has really given hospitals authority and incentive to discharge patients very soon after admission to the hospital.The hospital gets paid the same whether the patient is in 3 days or 6 days. So the hospital can make more money if they free up the bed sp...(related: Insurance)
Long-term Care Insurance: Eldercare Solution
When I suddenly had to become a fulltime caregiver to my elderly parents, both with health problems and starting to develop deme...(related: Insurance)
The Life Insurance Policy And What You Need To Know Before You Buy
Are you looking to buy a life insurance policy? Well, be careful. Life insurance can be difficult to understand and it's easy to be conned into buying something under false pretenses.Recently a prominent life insurance company together with several of its agents paid a huge fine because it permitted the sale of a life insurance policy disguised as a retirement plan. There was little attention given to what a life insurance policy is truly designed to provide.Life insurance is not an investment for your benefit. It's guaranteed income tax-free cash paid to someone you designate in the event of your death. If...(related: Insurance)
Types Of Homeowner Insurance
There are 6 different types of homeowners insurance in general that are consistently utilized. Of these HO-3 is the most usual policy then it is followed by HO-4 and HO-6. Others less used, but still important, are HO-1, HO-2 and HO-5. Everyone is described below:HO-1A limited policy that offers varied degrees of covera...(related: Insurance)
Cheap Health Insurance - Health Insurance For The Self Employed
If you're self employed, you may think of health insurance as a luxury. When you're barely making ends meet, paying several hundred dollars a month for something you may not need isn't a priority. Or maybe you can't find a health insurance company to insure you because of a pre-existing condition. If you have no health insurance, you're banking on the hope that you won't get sick. But if you do, your business suffers.If you can't get individual health insurance, or if the premiums are out of reach for an individual policy, there are a number of ways to get cheap and discount health insurance and health care.Look Into State...(related: Insurance)
Auto Insurance Information Online - Compulsory Auto Insurance
In 47 of the 50 United States, it is illegal to take a car onto the road without auto insurance. Compulsory insurance laws protect the public from the expenses of injuries and property damage resulting from a car accident. The states that...(related: Insurance)
site-map - Copyright © 2006 Insurance | All Rights Reserved. | Insurance