Insurance

Young UK drivers are believed to be paying the highest car insurance premiums. Major reasons responsible for the skyrocketing UK motor insurance premiums are fraudulent claims, increase in IPT and reduced discount on payouts of fatal injuries. Due to these reasons, the UK car insurance providers charge heavy premiums from young drivers to such an extent that at times the insurance cost surpasses the cost of the vehicle. When motor insurance providers were prodded, they blamed it on the risk value associated with young UK drivers. Why young UK drivers pay higher car insurance premiums? As most of the young drivers have less experience in driving vehicles, they tend to make more mistakes than the experienced ones. In addition, they like to speed often which makes them a riskier bet for car insurance providers. Even if we look at the statistics of last year, it suggests a 19% rise in […]

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Whether we believe the reported facts or just ponder upon a public survey, it is now absolutely clear that British drivers are facing the brunt of ever increasing motor insurance costs. According to statistics, UK car insurance premiums have actually beaten the rates of inflation by rising five times faster. As the UK car insurance cost witness a rise of 14%, it becomes exceptionally difficult to balance the vehicle purchase and motoring costs. Experts suggest the best way to get cheap car insurance premiums is to switch to black box policy. It is estimated that if all British drivers switch to telematics policy then they can save over £1.7 billion annually. Clearly, when it’s about making savings on car insurance cost, telematics insurance is the way ahead. However, the irony is that only 5% of UK motorists have black box policy and most of these are young drivers under 25. […]

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UK energy suppliers hold an important position for every household. As they are the reason behind inflating or deflating household budgets, the gas and electricity suppliers are always under scrutiny. Even the government keeps an eye on the UK energy suppliers as they form the basis of a household budget. There are many energy price comparison techniques to help households get cheap energy deals. The gas and electricity suppliers are compared based on their services, prices, fuel mixes and scale of customer base. There are many energy comparison providers but Citizens Advice is considered an authentic and transparent resource to find the worst and best energy suppliers in the UK. A nexus of 316 independent charities, Citizens Advice aims at assisting Britons with issues related to consumerism. It has listed the top and worst energy suppliers in UK. Citizens Advice compare energy suppliers based on the following criteria: Complaint resolution […]

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Home insurance is an important aspect for managing the finances if ever something goes wrong with the house. The sad part is that many home owners are busy paying premiums for policies that may do no good to them. They would be invalidated at any point of time. The reason behind this is the small yet significant mistakes done on the part of the home owner. Negligence of any kind is not tolerated by UK home insurance providers and they can instantly call off the policy under specific circumstances. One must read the small print carefully to avoid any tussle with the home insurance provider who can invalidate the policy based on the conditions mentioned in the small print. This could be disturbing especially when you are paying higher home insurance premiums. Yes, as per Consumer Intelligence, there is a 7 percent increase in the cost of household insurance. It […]

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Who doesn’t want cheap car insurance that protects the vehicle against financial damages and yet not disturb our household budget. There are various methods to save on car insurance cost UK including shopping around but an interesting way to reduce car insurance premiums is to change your job title. You can actually save around 25% off your UK motor insurance cost by simply changing a job title that is considered less risky for the insurers. UK motor insurance providers offer cheap car insurance by judging the customer and his/her driving habits against various factors. Job title is one of the deciding factors in calculating car insurance cost in UK. Logically, it is fair, as a racing driver has far more risk of facing accidents, vehicle damage and may even bang other vehicles more often than a nurse or a dancer. Therefore, car insurance providers in UK charge higher premiums from […]

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First of all, you need a pat on the back if you already have a home insurance policy as there are a considerable percentage of Britons who do not worry about insuring their home against adversities. Next thing that needs some serious thought is whether your home insurance gets auto renewed every year or not. If yes then you may be at a big loss as switching home insurance provider would have saved you a good deal of money then sticking to your age-old, favourite insurer. According to reports by the Financial Conduct Authority, UK customers can actually save somewhere between £64-103 million per year if they choose to switch home insurance providers instead of auto renewing their policy. Owners should compare the home insurance market at the time of renewal to get the best discount deals on home insurance. Either your current home insurer would offer discounts to keep […]

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Life insurance is a necessity for one and all but two third of Britons are surviving without a life insurance policy. Most of them are having health concerns but they are still not choosing to invest in a whole of life insurance policy. According to a report by Lifesearch, UK’s leading life insurance provider, 57% of the adult population is without life insurance while 11% are not even aware about it. The surprising fact is that having a life insurance policy helps one to pay mortgage and records suggested that 63% of Britons have owner occupied homes in 2015-16. We find a very small percentage investing in life insurance even when 29% of people agree that poor health is their biggest cause of worry. 24% of the survey takers admitted to worrying about the health and death of their family members. If figures are to be believed then 27% of […]

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