The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
Car insurance premiums increased in 2011, despite a fall in the third quarter of the year, the AA reports. Based on its ‘Shoparound’ price index, which takes the average of the three cheapest quotes from several insurance providers, the AA says that premiums have increased by 15.3% compared with a year ago. The average comprehensive [...]
The AA has launched an online, instant-access account paying 3.2 per cent interest before tax, which is currently the highest rate available for people who need immediate access to their money. The account will offer some protection from the rising cost of living, without having to worry about tying up savings for a long period. [...]
Workers at motoring group AA have voted in favour of going on strike in a row over pensions. The AA’s management wants to put a cap on annual rises in pensionable salaries, to raise employee contributions and also to cut the maximum annual increase in pensions paid. The final-salary scheme is already closed to new [...]
The AA has launched a new credit card with a 0% interest rate on retail spending for 10 months. The card, available exclusively through moneysupermarket.com, offers the 0% rate on all purchases including motoring and fuel. Consumers can also take advantage of a 0% rate on balance transfers for 12 months, subject to a 3% [...]
According to the BBC, workers at the AA may strike for the first time since the organisation was established over a century ago. The vehicle breakdown service, which advertises itself as the fourth emergency service, is in a dispute over pensions and thousands of employees are to be balloted. The GMB union said its members [...]
The AA has told motorists to brace themselves for a sharp increase in motor insurance premiums. Research by the organisation found the average premium for comprehensive insurance has increased by 14% in the last 12 months, the biggest rise in 15 years. Simon Douglas, AA Insurance director, said consumers should expect to be hit by [...]
The AA has secured the accolade of Which? magazine’s top breakdown provider for the third year running. Customers polled by the consumer advice magazine gave the AA an average rating of 86% for customer satisfaction, level of service, and whether they would recommend the company to a friend. “Holding on to top position for three [...]
Car insurance premiums increased 3.5% over the past three months, research by the AA has discovered. The typical quote for annual comprehensive insurance cover now stands at £778.13, according to the AA British Insurance Premium Index. This is 11% more than 12 months ago. Home insurance premiums also increased in the second quarter, up 2.5% [...]
Brits are choosing to holiday in the UK rather than travel overseas, the AA said yesterday, citing record traffic to its online route planner in the lead up to last week’s bank holiday weekend. A record four million drivers visited the journey planning website in the week leading up to the bank holiday, an increase [...]
AA Insurance has warned of a ‘Himalayan peak’ in the number of bikes stolen this summer as the recession makes bicycles an increasingly attractive easy target for thieves. Bike sales have surged in recent months as credit crunched Brits seek cheaper ways to get around town. Meanwhile, June to October is traditionally the busiest time [...]
There is bad news for Britain’s motorists today as, with immediate effect, the government has increased duty on fuel, adding 2.12p a litre for their petrol and diesel, which will increase the annual tax bill for the average family by £54, according to AA estimates. The AA has been actively campaigning against the increase and [...]
Being ‘economical with the truth’ when buying car insurance is false economy, motor insurer the AA has warned. Failing to admit to previous claims or convictions is insurance fraud, the AA said, and will result in insurance being voided if the cover-up is discovered. “Not telling the whole truth amounts to fraud and can result [...]
The AA has lashed out at government plans to make age and gender discrimination illegal on car insurance policies. Premiums could double for some drivers, the AA said, if the Equities Bill, due to be brought to parliament this spring, is extended to cover the sale of insurance. Age and gender are key factors that [...]
Seven in ten UK motorists think using a handsfree kit whilst driving is a distraction, according to insurance firm esure. A study by the car insurance provider found that 71% of drivers believe making or receiving a call on handsfree technology is a distraction. Whilst it is illegal to use a handheld mobile phone whilst [...]
Motorists who have been caught using their mobile phone whilst driving pay higher insurance premiums, research by AA Insurance has discovered. Increased premiums quadruple the cost of being caught, as the average premium increase is around four-times the cost of the standard fine. Meanwhile, drivers found guilty of dangerous driving whilst using a mobile find [...]
Car insurance, along with new and used cars, will be available at bargain prices over the next month, the AA has revealed. The motor rescue and insurance company said February and March will be the ‘sale of the year’ for car insurance, and ‘the sale of the century’ for new and used cars. March vehicle [...]
AA insurance has launched a ‘value’ insurance policy aimed at caravan owners looking to cut back on expenses during the recession. Caravan Essentials insurance provides stripped-down cover for caravans worth up to £10,000. It provides essential cover of up to £2 million for public liability, damage, or theft. Extras such as legal expenses or family [...]
According to the AA’s quarterly British Insurance Premium Index, car insurance premiums are increasing again despite a brief respite. The index established that in the three months to the end of June, over £20 has been added to the average premium quote for comprehensive insurance. The average cost of this type of insurance is now [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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