The Tank of Mum and Dad Report from comparethemarket.com highlights just how reliant young drivers are on their parents to help them pay for insurance, petrol, repairs and motoring taxes. Over a third of parents (39%) said that they paid some or all of the costs for the duration of their child’s first year driving. 14% contributed for the first two years … [Read more...]
Insurance News
Premiums drop in Wales but beware of higher charges
Drivers in Wales are being urged to shop around as the price of buying a new car insurance policy has dropped by £33, on average – but insurers have been ramping up the cost of renewals, new research finds. New data shows the average price of a new car insurance policy in Wales dropped by 5% - or £33 - in the past 12 months, meaning those who shopped around … [Read more...]
Grey fleets not black and white for home-workers
The rise of home working in the wake of the coronavirus crisis is creating issues for fleets when it comes to classifying journeys, says the Association of Fleet Professionals. Describing the problem as “The New Commute,” the organisation says that problems revolve around whether an employee’s home is now officially their place of work. Paul Hollick, AFP … [Read more...]
Newslines 5 October
Thousands of drivers are making big savings by working from home and not paying to use toll bridges, tunnels or motorway sections, says Leasing Options. It has looked at toll costs and found the Dartford Crossing the dearest to use over a year, taking over £3,500 off drivers and even the Clifton Suspension Bridge, Bristol costs £524 annually. Changing your … [Read more...]
Businesses stretch to survive
New data compiled by epyx has shown the increased level of contract extensions made on company cars and vans during the coronavirus crisis. Looking at transactions through its 1link Service Network service, maintenance and repair (SMR) platform, used by fleets operating four million vehicles, it has produced a comparison for April-August 2020 – the height … [Read more...]
Key workers and unemployed hit by insurance costs
People unemployed and some ‘key worker’ professions face significantly higher car insurance premiums because of their job or employment status, according to new analysis by comparethemarket. A policy for someone who is unemployed was 40% higher than a comparative policy for an employed person, or 54% higher than an HGV driver which is the cheapest … [Read more...]
Tradelines 30 September
The pure electric Mazda MX-30 will begin at £25,545 for the SE-L Lux when it reaches showrooms next spring. Top model in the five-car series will be the GT Sport Tech at £32,845, after the PIVG allowance. Average car insurance premiums fell by £53 since the start of the lockdown, as many drivers were forced off the road and … [Read more...]
Thieves out to burst your holiday bubble
Wales-based comparison site GoCompare warns that fraudsters are targeting the boom in motorhomes and caravans. There’s been a dramatic rise in the number of insurance quotes for motorhomes and campervans as frustrated holidaymakers scramble to get away safely and independently. After months in lockdown at home people are eager for a change of scenery, but, … [Read more...]
Premiums and write-offs lower in Wales
Insurance premiums in Wales have dipped by about 5% over the last 12 months, as a report shows fewer cars are written off in Wales after accidents. The change was less over the summer at approximately 3% compared to the summer of 2019, according to figures from Comparethemarket. In Wales this year, the average premium is £572.33p and the UK figure is … [Read more...]
Claims collapse but will savings be passed on?
As expected, the number of motor insurance claims notified to insurers in the second quarter of the year significantly fell according to figures from the Association of British Insurers. The fall largely reflected the lockdown period, when far fewer vehicle journeys were made. Claim payouts during the period while also down, fell at a lower … [Read more...]
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