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...]
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...]
Classics become contemporary as sales boom
Owning, restoring and driving a classic car is a common dream, but it requires significant investment at every stage – in both time and money. Such desirable, high-value vehicles are inevitably also a common target for professional thieves meeting demand for vintage cars and their parts in the UK and across Europe. Stolen vehicle recovery (SVR) expert, … [Read more...]
Now learners return to school of mum & dad
The gradual easing of the coronavirus lockdown has seen more new drivers than ever opting to learn with another family member, suggests analysis of RAC Learner Driver Insurance data. With driving instructors unable to start giving tuition again until 4 July as a result of the pandemic, figures show just how eager new drivers were to get behind the wheel … [Read more...]
Motorists taking risks with insurance ignorance
Millions of drivers have no idea exactly what their car insurance policy covers as one in four simply let their other half deal with it. A study of 2,000 UK motorists found one in 10 are clueless about whether they are covered for things like driving their car for business use, if they have windscreen cover or if they can drive other vehicles. Worryingly, … [Read more...]
Tradelines 3 June
North Wales Police face a £100,000 bill for selling an impounded luxury motor home without the owner’s permission. The Unimog based vehicle from Germany was taken in October last year when its German owners asked a policeman for directions and couldn’t produce insurance, which was obtained in December but after NWP sold it and it was stripped for parts, … [Read more...]
Rip off insurance admin fees uncovered
Changing the name, address or job title on your car insurance policy seems straightforward enough, but you’ll often find that there can be a fairly hefty admin fee attached to making such a simple change and it amounts to about £592,969,306 from drivers each year. Choosemycar analysed the terms and conditions of over 80 of the UK’s car insurance providers … [Read more...]
Newslines 26 May
British Finance Minister Rishi Sunak will rescue companies seen as strategically important on a “last resort” basis after other options run out. The Treasury told Reuters late on Sunday it may try to save those companies whose failure will “disproportionately harm the economy” and that could include Jaguar Land Rover which has been reported as seeking … [Read more...]
EV shocks for dealers
The move towards electric cars is going to be a shock for many car dealers, according to a new survey, writes Robin Roberts. While generally satisfied with manufacturers’ plans to introduce battery electric vehicles and hybrids, they are less happy about dealership costs and how they are going to make money in the longer term. Already coping with new … [Read more...]
Your job comes at a premium for insurers
Vanarama has analysed the UK's 100 most common job titles to reveal which occupations are considered most high risk by car insurance companies therefore charged the most for premiums and there are some surprising findings. To do this, they entered the average UK’s drivers details into the UK's largest car comparison website 100 times, changing only the job … [Read more...]
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