The Financial Conduct Authority has provided a further update on the work it is undertaking to tackle the ‘loyalty penalty’ faced by millions of financial services customers and other issues raised by the Citizens Advice super-complaint to the Competition and Markets Authority in 2018. GoCompare has been involved in the consultation and Lee Griffin, the CEO and one of the founders of … [Read more...]
Insurance News
Greener cars are rapidly rising in Wales, says comparison site
Green vehicles are growing in popularity with Welsh drivers, according to new figures showing a significant increase in the number of low-emission vehicles. The Department for Transport figures show that the number of low-emission vehicles in the region rose by 32 per cent in the year to the end of September, while the total number of vehicles increased by just two per cent. There are now over … [Read more...]
Beware of using uninsured “taxis”, warn insurers
Wales' based GoCompare has issued a warning to drivers not to offer people lifts home for profit this Christmas, following reports of young people offering their services on social media. Pembrokeshire Council said it had been made aware of “illegal taxis” operating throughout west Wales and previous reports have found numerous Facebook groups around the country with more than 50,000 … [Read more...]
Councils ignoring car damage complaints
One in four people have damaged their car on either a speedhump or pothole, rising to almost one in three (30%) in urban areas. The Opinium research of over 2000 UK drivers, on behalf of InsuretheGap.com, found that over a quarter (26%), who have damaged their car on a speedhump or pothole, paid between £51 and £100 to fix it; a third (35%) paid between £101 and £250; and 8% said it cost more … [Read more...]
Newslines 13 December
A 63-year-old bus driver has been arrested after eight people were injured when a bus going to Swansea University crashed into a railway bridge after a route diversion. Two were seriously hurt and another has life threatening injuries after the First Cymru vehicle hit the bridge in Neath Road, Landore, Swansea when it was diverted from its normal route to the Swansea Bay campus and main line … [Read more...]
Young driver premiums are falling
With the cost of getting a young driver on the road climbing to nearly £7000 this year, choosing the right car and car insurance can have a significant impact on how much new drivers must pay to stay mobile. The good news is that one comparison site has found average car insurance premiums for drivers under 25 are falling. In the first eight months of 2019, the average comprehensive … [Read more...]
£60 added to average premiums by comparison sites, claim
A new report sheds light on the practices price comparison websites are implementing to persuade vulnerable young drivers to part with their hard-earned cash - when they already pay 149% more than national average on their insurance. Earlier this month the Financial Conduct Authority released an assessment of the insurance industry, which lifted the lid on loyalty penalties, revealing insurers … [Read more...]
North Wales hit by rising van thefts
Van thefts in North Wales have doubled in 12 months but fallen by 75% in South East Wales. CV theft across the UK has soared by 45% over the last four years with 30,000 vehicles stolen since 2015, according to research by Volkswagen Commercial Vehicles. A total of 32,056 vans have been stolen over the last four years with almost 10,000 thefts recorded across the UK in the last year alone, … [Read more...]
Ghost brokers’ deals will haunt you
GoCompare Car Insurance is warning drivers to swerve away from heavily discounted car insurance deals advertised on social media or marketplace websites, and to trust their gut instincts. Victims of fraudsters known as ‘ghost brokers’, lose on average £769 and face penalties for uninsured driving. "Ghost broker" is the name given to someone who poses as a legitimate insurance broker to sell … [Read more...]
Speeding tickets hit record
The number of speeding tickets issued to motorists in England and Wales has hit a record high, according to government figures. They show that there were over 2.1 million speeding offences recorded in 2018, up by almost 100,000 on the previous year's figures. With the number having increased year on year since 2011, speeding now represents 85% of all motoring offences. In total there were 2.5 … [Read more...]