Tips for young drivers

Car insuranceOr that 40% of 17-year-olds have an accident in their first six months of driving? It’s also sobering to read that one in eight drivers is under 25, but they account for a third of people who die on UK roads.

Yes, young drivers are risky, which is why their car insurance premiums are often sky high. A typical motorist aged between 17 and 24 can expect to pay at least £1,000 for cover, more than double the average rate for an older driver.

But there are ways that young drivers can cut the cost of motor insurance – and one of the quickest and easiest is to shop around for cover using an online comparison service. Here are several other money savings tips…

Add another driver to you policy

It’s a bit counterintuitive, this one, as you would assume that an extra driver would incur an extra premium. But if you add an older, more experienced motorist to your insurance policy, it could actually bring the price down. This is because the insurer will assume that the additional driver will be behind the wheel for at least some of the time, so reducing the risk

Insurance tax rise makes shopping around vital

looking at tablet

The increase in insurance premium tax (IPT) at the beginning of November – when the standard rate will rocket from 6% to 9.5% of the premium – makes shopping around for products such as car and home insurance more important than ever.

This is because insurers offer their best prices to new customers, simply to tempt people through the door. They reckon on making their money back in subsequent years by increasing their prices when people renew.

And they often use a process called auto-renewal to increase the likelihood of a customer staying put. You can read here why we think this is such a bad practice for insurance customers.

It makes sense to become a ‘new’ customer every year by scouring the market for the best deal possible.

And with IPT shooting up by 58% in November, you need to make sure your base premium is as low as possible for the level of protection you require.

What is IPT?

– Insurance premium tax is charged on policies such as car, home, travel, pet and private medical insurance (PMI)
– Life insurance and income protection insurance are exempt from IPT
– The increase in the standard rate

What is Third Party Logistics Anyway?

There are several elements in the business world that are intended to boost success. One of these elements is third party logistics, or 3PL.

3PL is an organization or a firm that offers services related to the functions of a company’s supply chain management. These firms usually specialize in a certain aspect of supply chain management. For example, the individual may customize a clients warehousing and transportation needs. This person may also provide in-depth reporting and can project what the future will hold for a company’s freight needs.

Do you need a 3PL? Keep on reading to find out.

The Benefits of 3PL

Does your business utilize logistics functions? Do you rely on warehousing to store your merchandise and do you require transportation to ship your merchandise to your customers? If so, than you could certainly benefit from a 3PL. How can this service benefit you? Consider the following perks:

  • Provide financial savings. Since a 3PL specializes in the aspects of logistics, it can help to eliminate unnecessary costs and help to ensure that your money is being used wisely in regard to logistics.
  • They could save you time. You are busy producing and marketing your merchandise, in addition to connecting with clients and making

Why You Need Boat Insurance Year Round

On the off chance that you possess a pontoon, whether it’s a sailboat, power vessel or yacht you will need to have the right marine protection to secure your watercraft and the general population on it. Vessels give extraordinary fun and unwinding amid the midyear seasons and numerous pontoon proprietors live for the couple of months a year when they can take off for the weekend on sea trips. In any case, on the off chance that you just protect your watercraft when it’s on the water you might be in for a severe shock amid the offseason ought to your vessel be vandalized or be the reason somebody was harmed. Safeguarding a pontoon year round is the most ideal approach to give greatest security to your vessel and you as the watercraft proprietor.

When you are on the water it’s truly clear why you require protection for vessels and individual watercraft. Impacts with different water crafts, harm to the vessel from foul climate and unpleasant conditions and wounds that can happen on the watercraft are all potential dangers that should be incorporated into your marine protection arrangement. As the proprietor of a insurance 4 boats

Multi-car crash? Here’s what to do

If you’re involved in a multi-car accident, your first consideration will instinctively be the welfare of everyone involved rather than the insurance implications. But even as the dust is settling, you’ll have to start thinking about the practicalities of making insurance claims and who exactly is at fault.

This can prove to be something of a headache in a pile-up. From an insurance perspective, if you rear-end the car in front of you, then you are liable, even if you’ve managed to stop in time and only collided because you were shunted from behind yourself.

That is why it is vital, when you’re taking stock of the situation, that you inform the police immediately (once you’ve asked for an ambulance, if necessary) and then get the names, numbers and insurance details of as many people and witnesses as you can.

If possible, also take photos of the damage – this will help insurers sort through the batch of claims generated by the incident.

Insurance implications

Speaking on BBC Radio 5Live, Malcolm Tarling of the Association of British Insurers (ABI) said:  “If you’re in the middle of a multi-car pile-up there’s very little you can actually do, it’s a

Car premiums plummet – so switch at renewal!

We’ve found the cost of car insurance has fallen to a three-year low. Average premiums for new customers hit their lowest price in recent memory in the second quarter of 2013 at £394.

That’s 16% lower than the same time last year (£487), and 38% lower than the second quarter of 2011, when the average cost of new car insurance was an eye-watering £545.

Note the word ‘new’. It’s essential to be a ‘new’ customer at every renewal because insurers do not to reward loyalty. They usually increase premiums for those who allow their cover just to roll over for another 12 months so they can offer their best prices to new customers.

Kevin Pratt, MoneySuperMarket’s car insurance spokesman, said: “It really pays to shop around for your car insurance in a market of falling prices. With the typical cost for new cover 16% lower now than the same time last year, you should be able to beat your renewal premium and pay even less than you did the previous year.

“Cheaper premiums are up for grabs, and the average saving for someone using MoneySuperMarket to switch their car cover is around £320.”

Cheapest postal areas

Our analysis also revealed the largest decreases in car insurance

Everything you need to know about car insurance

What is car insurance?

Car insurance covers you (and any other ‘named’ drivers on the policy) when travelling in your vehicle. As a minimum, it insures you against the ‘third party’ costs associated with damage, injury or death to others in an accident that is judged to be your fault.

Other policies cover your own costs, such as repairs to your vehicle or reimbursement if it is written-off or stolen.

Your policy might even afford you some protection when driving other people’s cars.

It is a legal requirement for motorists of all ages. To prevent the problem of some drivers flouting the rules and driving without cover, all cars not registered as off the road via a Statutory Off Road Notice (SORN) must now be insured at all times.

 

What happens if I don’t have car insurance?

Anyone who breaks the Continuous Insurance Enforcement (CIE) rules can receive a £100 fixed penalty notice, have their car clamped or even face court prosecution with fines of up to £1,000.

So even if you have a vehicle that you only use from time to time, you need to get it insured or declare it as off the road with a SORN notification from the DVLA to avoid breaking the

Can telematics make car insurance cheaper?

That’s the logic increasingly being promoted in a bid to drive down the cost of car insurance. Take the argument out of claims resolution, they say, and you save a lot of hassle for those administering the matter – and that means cost savings.

Eradicate the likelihood of fraud, runs the argument, and you remove unwarranted compensation payments and eliminate the involvement of the various organisations that thrive on the car insurance claims process.

Claims crisis

Ask two people for their version of events after a car crash and you could well get two answers, as each party tries to absolve themselves of blame, terrified of the impact it’ll have on the cost of their car insurance.

If there are no witnesses and it comes down to the word of one motorist over the other, because insurance claims are generally civil matters, insurers tend to contest and agree any liability apportionment between themselves.

The motor insurance industry is making great strides in the field of fraud prevention but the fact remains that many claims are wide open to fraudulent whiplash claims and other related scams. Indeed, fraudulent claims, particularly whiplash are thought to add as much as £50 to the price of a typical car insurance policy.

So

Drink-driving: Don’t do it!

So, clearly, not everyone is heeding the drink-drive warnings. But why?

Our research – we drilled through 12 million quotes run on our site over 12 months – shows that motorists in rural areas are more likely than their urban counterparts to have a drink or drug-driving related conviction on their licence (the government is introducing a drug-driving offence covering narcotics such as cannabis, cocaine, ecstasy and LSD).

It seems fair to conclude rural drinkers are more likely to drink-drive because of the lack of public transport, cost of taxis and the distances between drinking venues and home in the countryside.

Regional hotspots

Motorists in north Scotland and mid Wales are most likely to have a conviction (a rate of 1.51 and 1.4 convictions per 1,000 quotes per year respectively). This is double that of Greater London (0.77 convictions).

Deeper analysis shows Scotland and Wales also dominate the postcode breakdown, between them representing six of the UK’s top ten postcodes for drivers with a drink or drug driving conviction. Aberdeen (AB postal area code), Inverness (IV), Dundee (DD) and Kirkcaldy (KY) in Scotland feature in the top 10, with Aberdeen topping the list. Cardiff (CF) and Swansea (SA) are home to the worst of the

Water hazard! Avoid the perils of aquaplaning

However, it’s not just flowing flood waters that pose a danger to motorists. Standing water, even at fairly modest depths, can lead to ‘aquaplaning’, which can cause motorists to suddenly lose control of their vehicle, with the potential for disastrous consequences.

According to figures from the Department for Transport (DfT), of the almost a third (30%) of UK road accidents in 2012 occurred on wet or flooded roads, with three in every 20 (or 15%) proving serious or fatal.

The good news is that you can minimise the risks of losing control in the wet by carrying out a few, simple monthly checks.

What is aquaplaning?

In motoring terms, aquaplaning occurs when a layer of water builds up between tyres and the road surface, leading to a loss of traction that prevents the vehicle from adequately responding to the driver’s controls.

This build-up of water can be caused by a number of factors, from ruts in the road caused by heavy vehicles to increased rainfall. The problem can be exacerbated by insufficient tyre tread depth, which means this water may not be removed quickly enough, or by underinflated tyres, which can raise the centre section of the tyre’s width and prevent the tread from pushing

UK car sales soar – is it time to buy?

December 2013 was the 22nd consecutive month that UK car sales continued to rise, and the increasing demand for new cars has become one of the more obvious pointers towards the UK’s recovering economy.

And it’s a situation that is at odds with the rest of Europe, where sales have been in decline for the last six years – surprisingly, Spain was the only other major European market to see an increase in sales, thanks largely to a nationwide scrappage scheme.

So why is the UK bucking what appears to be a Continent-wide trend?

It seems that a combination of cheap credit deals – personal loan rates fell to their lowest ever levels last year – and increased consumer confidence are two of the major reasons behind the continued sales growth.

Industry figures show that three-quarters of sales to private buyers involve a financing package of one kind or another, and analysts have also singled out mis-sold PPI refunds as another contributory factor (the average pay-out of £3,000 would make for a decent down payment for a new car).

Over the coming weeks, and leading up to the release of the new ‘14’ number plates on March 1, we’ll be looking at the best ways

Insurance premiums at 4-year low

Even if your current insurer has trimmed a few pounds off your premium, there could be bigger savings to be had elsewhere – with no need to compromise the quality of protection you enjoy.

That’s because insurers tend to reserve their best prices for new customers as they battle for share of the market. And the simple act of shopping around for our car insurance and home insurance makes you a new customer every time.

What’s happening to prices?According to 49 million quotes run on MoneySuperMarket between April 2010 and March this year, the average car insurance premium is now £390. When prices peaked in the second quarter of 2011, the average premium was £545, which means there’s been a huge drop of 28%.

 

Home insurance premiums also sit at a four-year low, averaging at £126 – their lowest since MoneySuperMarket’s analysis began in 2010.

Here’s a look at why prices are falling, and why it’s just as important as it’s ever been to make sure you’re getting the absolute best price on your cover.

Maximise your savings

Clare Francis, editor-in-chief at MoneySuperMarket, said: “It’s the first time since we began monitoring market pricing in 2010 that we’ve seen both car and home insurance premiums fall

MPs target fraud to cut car insurance costs

People who switch insurer at renewal, rather than those who automatically stick with the same firm, are usually in line for the biggest savings, making it important to shop around at renewal time.

Members of the Parliamentary Transport Select Committee say there would be scope for further reductions if claims costs could be squeezed further. They cite invented and exaggerated whiplash injuries, inducements paid by solicitors to encourage claims, and insurer willingness to settle claims without medical or legal challenge as areas needing urgent attention.

They also want a funding boost for the police Insurance Fraud Enforcement Department, improved sharing of data relating to fraud, and the creation of independent medical panels to determine the likelihood of whiplash injury, which is almost impossible to prove or disprove from a purely medical perspective.

Insurance in the spotlight

Motor insurance and premium prices are now very much a part of the political agenda, having been the subject of Parliamentary debate, a prime ministerial summit and the catalyst for legislative changes, as well as reports from the Office of Fair Trading (OFT) and the Competition Commission.

A recent government report on the ‘dysfunctional’ car insurance market pointed out that whiplash claims add around £90 to the cost of

Clearer insurance policy renewals on the way?

It also wants to include mention of first-year discounts, effectively warning policyholders that the price will be higher at renewal.

The ABI wants the changes to be in place by the end of 2015.

‘Long overdue’

MoneySuperMarket car insurance expert Natasha Glasgow has backed the proposals, but thinks they could be taken further.

Natasha said: “At long last, the insurance industry is waking up to the fact that it has made the process of renewing policies at a competitive price as difficult as possible, with many customers paying way over the odds because they stick with the same insurer year after year.

“Greater transparency is long overdue and we welcome the ABI’s proposals which have resulted from greater scrutiny by the regulator, the Financial Conduct Authority.”

Could go further

But forcing insurers to tell customers how much they paid last year does not go far enough, says Natasha: “Seeing last year’s price on a renewal quote is one step towards getting a good deal – but far from a silver bullet. Car insurance premiums are falling for new customers – as first year deals offer discounts to entice customers in – so comparing across the market will reveal how good a deal your renewal price really is.

“We

Is cheaper car insurance around the corner?

-a ban on agreements between certain price comparison websites and insurers which stop insurers from making their products available more cheaply elsewhere;

-better information for consumers on the costs and benefits of no-claims bonus protection;

-an examination by the  Financial Conduct Authority (FCA) into the sale of ‘add-ons’ on car insurance policies. It says limited information regarding add-on products such as legal expenses cover makes it difficult for consumers to compare the costs and benefits.

The agreements between certain price comparison websites and insurers – long criticised by MoneySuperMarket – have been deemed anti-competitive because they force insurers to charge the same price via every outlet.

If the insurer declines to enter the agreement, the comparison site in question refuses to sell its policies, reducing its access to market.

Free negotiations

Our view is that each site should be free to negotiate with insurance companies to achieve the lowest possible price for its customers.

Peter Plumb, MoneySuperMarket’s chief executive officer, said: “We welcome this move by the CMA, which will help bring car insurance prices down for consumers.

“The removal of clauses from some price comparison website contracts, which prevent insurers from offering a cheaper premium through another price comparison website, is a good thing.

“Unlike some other comparison

7 ways to beat the winter weather

1. Insulate your pipes

Cracked and burst pipes on a cold December morning are the last thing you need, so before falling temperatures start putting stress on your pipework, now is the time to insulate them.

Wrapping them with insulation, which you’ll find at your local DIY shop, will protect them against the elements. Pay particular attention to joints and bends.

2. Get your boiler serviced

Your boiler’s probably gone unloved for most of the year. Now is a good time to give it some attention. If you haven’t already switched the heating back on, you’ll soon have to – marking the start of your boiler’s busiest time of year.

Repairs can be really expensive, so boiler cover – which usually includes an annual service – is a good idea.

3. Bleed your radiators

Boiler and pipes taken care of, the last part of the heating to sort out is your radiators. Bleeding them regularly will eliminate excess air, leaving more room in the pipes for water and, as a result, making them more efficient.

And talking of efficiency, make sure you’re on the best energy tariff for your needs. You can run a quote in a matter of minutes, with savings of up to £199 available for many households.

4.

Switch car insurer to snatch lower premiums

The numbers come from our analysis of the quotes run on our car insurance channel. We don’t know whether the downward trend will continue, though. Prices actually rose during 2014 from their low point in February, when the average price was just £378.

Switch and save

What is clear, though, is that drivers shouldn’t expect to secure automatic savings simply by renewing with their current provider.

That’s because insurers tend to save their best prices for ‘new’ customers, not existing ones. So it’s crucial to act like a new customer and see who offers the best combination of price and quality when you run a quote – and switch to secure your saving.

There have been big fluctuations in premium prices recently, but January’s dip will be welcome relief for those looking for cover, even if it turns out to be a seasonal trend.

15 winter-ready tips for your home and car

Crewe (postcode CW) took first place, having logged 1.74 drink or drug-driving convictions per 1,000 drivers.

The next four slots in the top five are occupied by Welsh postcodes – Llandrindod Wells (LD – 1.60 per 1,000 drivers), Cardiff (CF – 1.59), Newport (NP – 1.58) and Swansea (SA – 1.58).

At the other end of the scale, the three postcodes with the lowest number of convictions per 1,000 drivers are in London (WC, NW, and E). London WC had a conviction rate of just 0.12 per 1,000 drivers, with NW at 0.66 and E at 0.68.

The other two postcodes in the bottom five are Bradford (BD – 0.68) in Yorkshire and Ilford (IG – 0.76) in Essex.

Improving situation

The good news is that the overall number of convictions for drink and drug-driving appears to be in decline.

The highest rate of offences when we ran these numbers last year was 1.98 per 1,000 drivers – this was in the Llandrindod Wells postcode. That means we’ve seen a drop of some 12% in the 12 months to October 2015.

Similarly, the lowest rate of convictions in 2014 was 0.76 in the London E postcode, but this tumbled to 0.12 in London WC

So solid Crewe? Not when it comes to drink-driving

Crewe (postcode CW) took first place, having logged 1.74 drink or drug-driving convictions per 1,000 drivers.

The next four slots in the top five are occupied by Welsh postcodes – Llandrindod Wells (LD – 1.60 per 1,000 drivers), Cardiff (CF – 1.59), Newport (NP – 1.58) and Swansea (SA – 1.58).

At the other end of the scale, the three postcodes with the lowest number of convictions per 1,000 drivers are in London (WC, NW, and E). London WC had a conviction rate of just 0.12 per 1,000 drivers, with NW at 0.66 and E at 0.68.

The other two postcodes in the bottom five are Bradford (BD – 0.68) in Yorkshire and Ilford (IG – 0.76) in Essex.

Improving situation

The good news is that the overall number of convictions for drink and drug-driving appears to be in decline.

The highest rate of offences when we ran these numbers last year was 1.98 per 1,000 drivers – this was in the Llandrindod Wells postcode. That means we’ve seen a drop of some 12% in the 12 months to October 2015.

Similarly, the lowest rate of convictions in 2014 was 0.76 in the London E postcode, but this tumbled to 0.12 in London WC this year.

Party season

While

MPs back our call to halt £1.3 billion auto-renewal rip-off

We see this as a problem because, according to our research, people often have little or no idea they’re agreeing to auto-renewal when they first buy their car insurance policy – the information is tucked away in the small print.

The situation is aggravated by the fact that it is difficult for customers to opt-out of the process.

For example, while drivers are opted-in online, it is often only possible to opt-out using expensive premium rate telephone numbers, during office hours. Some insurers also levy cancellation fees – even during the statutory 14-day cooling-off period.

Cost of auto-renewal

We reckon auto-renewal costs UK drivers £1.3 billion every year – that’s around £2 million in each of the UK’s 650 Parliamentary constituencies – because it deters them from shopping around for a competitive deal.

Typical drivers are paying £113 a year more if they auto-renew rather than shop around.

The topic is under active review by the Financial Conduct Authority (FCA), which regulates UK financial markets. We’ve asked MPs to support our campaign for the FCA to force insurers to allow customers to opt-out of auto-renewal in a speedy and straightforward fashion.

Customer disadvantage

In addition to cost of auto-renewal, we’re concerned the process could conceal significant changes to a