A new car loses approximately 20% of its value when it is driven off the showroom forecourt, and cars lose between 15 – 20% of their value each year, however, different makes, models and even colours will all hold and lose their value differently. Depreciation is the difference between what you paid for a car and the amount you can get back when … [Read more...]
Insurance News
Reduce the risk of buying a stolen car
Earlier in the year it was widely reported that UK car thefts were on the rise, which is a cause for concern. This makes buying a used car a risky business. Those who are looking to a grab a bargain with a car made by a German manufacturer may have even more need to be vigilant when looking to buy a second-hand vehicle. With car thefts being a growing … [Read more...]
Tradelines 29 August
A survey conducted by road safety charity IAM RoadSmart has found that its members are increasingly disillusioned with the state of the roads in the UK – and feel the Government is not doing nearly enough to tackle the problem. The survey of more than 7,000 IAM RoadSmart members found that the majority think that our roads have become much worse in recent … [Read more...]
Insurance fraud is found every minute in UK
Every minute in Britain an insurance fraud is detected, according to industry figures. Over 562,000 insurance frauds were uncovered last year, said the Association of British Insurers. About 113,000 were dishonest claims, valued at £1.3bn and while the number of dishonest claims fell 8%, the value of those claims rose 1%. Organised frauds such as … [Read more...]
Insurance premiums penalise some jobs
Choosing the wrong occupation could land drivers in a situation where they are paying as much as 14% of their salary, just to insure their car. According to Confused.com, the driver savings site, doormen ranked second on the list of the 10 most expensive occupations for car insurance, paying out a whopping £3,215 on average. This burden is made worse … [Read more...]
Newslines 17 August
Jaguar Land Rover will add three new models over the next five years and gradually switch most of its vehicles to a new modular platform. The first model will be a new-generation Land Rover Defender, arriving in the 2020-21 financial year, JLR said in a June 22 presentation to investors and two more vehicles will be launched between 2021 and 2024, with … [Read more...]
Alcohol related accidents accelerate 30%
The number of fatal road accidents involving illegal alcohol levels has risen 30%. Figures released by the Department for Transport today show there were 220 fatal drink drive accidents in 2016 – compared with 170 in 2015. The number of serious casualties was also up – from 1,170 to 1,250. The total number of casualties, including slight injuries, … [Read more...]
Beware of on-line vehicle scams
On-line used vehicle scams are escalating, says a reference agency. Mark Bailey, Head of CDL Vehicle Information Systems which owns mycarcheck.com, said, “The sheer volume of online scams is off the chart this summer, with seasonal favourites like convertibles, camper vans and motor homes being targeted. “The staff at our Glasgow call centre speak to … [Read more...]
New laws may catch out Brits abroad
More than half (59%) of drivers are unfamiliar with a range of new driving regulations introduced this year in France, says RAC Europe. Research carried out with 1,400 drivers found more than three-quarters (78%) were not aware the speed limit on France’s secondary ‘D’ roads was reduced from 1 July from 90kph to 80kph (55mph to 50mph), a move designed to … [Read more...]
Motorists face serious risks driving in heatwave
With Britain basking in the middle of a heatwave, insurer 1st Central, says motorists are sitting ducks when it comes to driving in extreme hot weather. This summer, in what meteorologists predict could be the hottest summer since 1976, 1st Central is urging drivers to be more cautious on the road and check their cars first before they set … [Read more...]
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