The Association of British Insurers (ABI) today said that motorist should not be charged extra on their motor insurance for fitting winter tyres. The ABI’s members, which together account for around 90% of the motor insurance market, have confirmed that they will not expect motorists to pay additional premium if they fit winter tyres, provided [...]
Cowboy builders have caused almost £7 billion of damage to UK homes, according to new research published this week. A study by Santander found that nearly one in five (18%) UK households has fallen victim to “Bodger the Builder”, at an average cost of £1,592 per botched job. Santander estimates the total cost of sloppy [...]
Direct Line wants to put a dampener on Christmas by telling people not to leave gifts under the Christmas tree. Peace, good will, and festive fun with the family are anathemas to the insurer, which would prefer we spent our Christmas worried about thieves. According to Direct Line, the age-old tradition of leaving presents under [...]
The Post Office has decided to spread a bit of Christmas cheer to its home insurance customers by increasing their level of cover during December. According to the Post Office, the 10% extra cover on contents insurance means people don’t need to worry about the gifts they’re buying for friends and family getting damaged or [...]
Householders who are made redundant could be hit with a further blow of increased home insurance premiums, new research has found. A study by Confused.com found homeowners could face higher insurance premiums if they are unemployed. The price comparison site said this is because insurance firms factor in the likelihood of customers defaulting on payments [...]
Homeowners renting a room to a lodger should inform their home insurance provider, the Association of British Insurers (ABI) said this week. According to the ABI, homeowners who don’t inform their insurance provider about taking on a lodger risk invalidating their policy. “If you are applying for insurance and you are taking a lodger, or [...]
LV= has warned of the dangers of trusting the people we love the most. The insurer said debit and credit card users risk having their identity stolen every time they share their pin number with their husband, wife, brother, sister, father, or mother. “We would strongly urge all card-users not to tell anyone their pin [...]
Nationwide is offering a 20% discount to new home insurance customers taking out combined building and contents cover. New customers taking out a combined policy at the building society will receive the 20% discount for 24 months. In addition, any new home insurance customers with a Nationwide current account will receive £20 cashback if they [...]
More than one in five students has had their bike stolen, according to new research by M&S Money. The poll by the home insurance provider found 22% of student cyclists have been targeted by bike thieves. Students should register their bike model, make and frame number so it can be identified if stolen, M&S Money [...]
Student households are more than twice as likely to be burgled compared to the average home, Confused.com has revealed. The price comparison website released the figure as thousands of new students prepare for their first term at university. Confused.com also said students shouldn’t assume their possessions are covered on their parents’ home insurance policy. “Separate [...]
The number of burglaries is on the rise as the recession deepens, Halifax warned this week. Home Office figures show a 4% increase in burglaries in the last quarter. Halifax said householders should be careful to secure their homes even on hot summer days. “When it’s warm outside people often leave windows and doors open [...]
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% [...]
Stinging wasps are more likely to invade your home this week than at any other time of the year. Wasp Week, the final week of July, is the time when the creatures are most prevalent in the UK. To coincide with Wasp Week, Sheila’s Wheels conducted a poll asking homeowers how they’d react to a [...]
Brits saving cash by staying on the Isle of Blighty for their summer holidays should check whether their home insurance policy covers equipment they take on holiday with them, Age Concern Insurance Services (ACIS) said this week. With the number of home-grown holidays set to increase 20% this year, ACIS warned that many insurers only [...]
Brits are wasting more than £500 million a year by failing to shop around for the best deal on their home insurance. Research by Your Money, in conjunction with Confused.com, found that homeowners are spending an annual £508 million more than they need to on home insurance – equivalent to £180 per household. A second [...]
DIY Brits planning to do up their homes on the cheap should check their home insurance policy covers them for any DIY blunders before they get out the toolbox, Saga Insurance warned this week. The over-50s insurance specialist issued the warning to coincide with new research showing that DIY is a popular past-time with the [...]
Frugal householders that scrimp on home insurance to save money are playing a risky game, an industry expert warned this week. Graeme Trudgill, corporate affairs executive at the British Insurance Brokers Association (BIBA), said homeowners should not use the recession as an excuse to stop paying premiums on buildings and contents insurance cover. His comments [...]
With the summer festival season approaching fast, moneysupermarket.com has urged festival-goers to check if their home insurance covers possessions stored in a tent. “Tents can be left unguarded for hours at a time, so while it’s essential not to leave valuables lying around, it is also important to check your insurance will cover you if [...]
Direct Line Home Insurance is offering new customers 50% off contents insurance policies until 30 September 2009. New customers can take advantage of the offer as a single policy, or alongside buildings insurance. The insurer said it decided on the price cut to help people with the cost of summer living. “There are always unexpected [...]
A short-list of the financial providers that offer the best customer service was unveiled this week by Moneywise. Moneywise revealed the firms that have been nominated for its Customer Service Awards 2009 in the categories of online current accounts, in-branch current accounts, mortgages, home insurance, and credit cards. Halifax, First Direct, and Lloyds TSB are [...]
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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