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 … [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 … [Read more...]
Police nick the cheapest car insurance
It's a fair cop - police officers benefit from cheapest car insurance Police professionals can expect the cheapest car insurance quotes on the market, according to new research by Quotezone.co.uk. The median insurance quote for police and community support professionals in the UK is £499. Driving instructors and examiners are on their tails at £615; … [Read more...]
Premiums continue to fall despite IPT hike
Average premiums have continued to fall in the third quarter of 2019 indicating a trend of reducing premiums, according to the latest Premium Drivers report from comparethemarket.com. While premiums have historically fluctuated throughout the year, average premiums are now markedly lower than the same time last year. In Q3 2018, average premiums were £732. … [Read more...]
New drivers facing old risks this autumn
Thousands of new and generally younger drivers will be facing their first autumn and winter on the road since passing their tests earlier this year, and dangers are around the corners. They may well have already encountered some pretty challenging conditions, but telematics insurance provider, drivelikeagirl, is urging new drivers to be extra vigilant to … [Read more...]
Insurers are raising motor costs by stealth
Analysis of car insurance policies reveals that since 2012 admin fees have become more commonplace with charges increasing by twice the rate of inflation, but you'd hardly know about it. Cancellation fees have risen by 49% since 2012; Charges for mid-term policy alterations have increased by 38%; GoCompare Car Insurance urges drivers to … [Read more...]
Excess giveaway by GoCompare
Customers arranging car insurance through GoCompare are set to benefit from financial assistance aimed at reducing the cost of making a claim, as part of an innovative campaign to raise awareness of insurance excesses. GoCompare Car Insurance is giving away free £250 excess cover to every customer who buys a qualifying car insurance policy. Customers who … [Read more...]
Charging, range and costs are keys to starting ev drive
Ease of charging, distance travelled on one charge and saving money are the top considerations for drivers when it comes to buying an electric car. In a national Opinium survey of 2,000 UK drivers, commissioned by InsuretheGap, a leading supplier of Guaranteed Asset Protection insurance for new and second-hand cars, four-fifths of drivers answered what … [Read more...]
Jobless hit hardest by insurers
Insurance companies are penalising policy holders who are unemployed, said Dan Hutson, Head of Motor Insurance. “Young people could pay nearly £900 more on average than over 65s for their motor insurance, and the unemployed could pay £440 more than the employed. Looing at comparethemarket.com’s latest motor snapshot highlights the differences in costs … [Read more...]
Welsh drivers spent almost £4,000 on first cars
New drivers in Wales are forking out just over £3,900 for their first car. In the North West and London they splash out more than £5,000 on their first wheels. The average amount of money spent on buying a new driver’s first car is now £4,276, an increase of 42% on the 2017 figure of £3,005. According to GoCompare Car Insurance new drivers in the … [Read more...]
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