Premiums always changing

Motorists are finding it more difficult to maintain vehicles with the rising cost of fuel and insurance premiums. This article discusses the statistics and ways of reducing your insurance costs.

Car insurance premiums have risen by 40% in the last 12 months which is bad news for motorists. According to the AA British Insurance Premium Index the typical comprehensive car insurance premium is now approximately £892.

While this premium is quite high, young drivers aged 17-22 have taken a bigger hit. Premiums for this age group have increased more than 64% over the last 12 months. A typical premium is now £2,430. Premiums for Third Party, Fire & Theft have also increased by a huge amount – 82% over the last 12 months. 

The fluctuation of premiums is recorded across the UK, by the index, for 2,800 car insurance customers. An increase in fraud and injury claims is cited as the reason behind the increase in premiums.

Car insurance premiums have been increasing for some time but industry experts say that insurers are still operating at a loss despite the large increase in premium rates.  

Driving is becoming more and more unaffordable due to record amounts in costs of fuel and rising premium rates. Higher driver costs are leading to more people withholding information when taking out a policy or exaggerating personal injury claims to try and reduce their costs. But this simply piles on costs for insurers and results in yet higher premiums for honest motorists, this has been quotes by a lot of experienced people in the field.

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Changes in insurance costs due to gender

Very soon it will be illegal for insurers to offer different premiums to men and women based on their gender alone.

Insurance companies have slowly been changing their prices in recent weeks, with new pricing required to be in place very soon.

As a result, prices for women will rise and mens premiums will drop. The changes will be most pronounced for young drivers, female drivers under 25 could see a 25% rise. Men could see a more of a drop in cost of around 10%.

The change is designed to make things fairer for the customer, however women have gotten used to cheaper premiums over the years  and the change in the law could potentially cost some young female drivers too much and could force them to stop driving.

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International student car insurance

If you plan on driving in the U.S and you are  an international student, you will definitely need to make sure you have some form of international student car insurance. It may seems confusing and overwhelming to deal with, but if you keep a few major tips in mind you’ll find it a lot easier to navigate the world of international student car insurance and get the protection that you need.

Look into collision and comprehensive coverage, not just liability – By going with liability insurance, you’re going with the bare, legal minimum, but it only covers passengers or property that you damage in an accident.

Collision will cover repairs to your vehicle if you’re involved in an accident and comprehensive will help you recover losses if your car is stolen or destroyed in some other way not related to a crash. Know the differences, as well as the area you’ll be living in, to determine the best coverage for you as an international student. Look for fixed rates. 

Have an updated international driver’s license – This will allow you to drive in the U.S. as well as at home with out having to register for just a U.S. license. And make sure that it is valid for at least six months after your stay ends so that you stand a better chance at getting reasonable international student car insurance rates and coverage. 

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Pot holes, costing people and insurance companies

The harsh weather in Britain has had a major impact on the country's roads with the AA reporting a four-fold increase in insurance claims this year compared to the same time last year.

Potholes are an unwelcome legacy of one of the harshest winters to hit the UK. The number of potholes is thought to have trebled after the heavy snowfalls this year and councils are struggling to foot the multi-billion pound bill to repair them. It costs around £70 to fill each hole.

But it's not just councils paying: the AA say more motorists than ever before are having to claim on their insurance for pothole damage.

Mechanics have reported seeing plenty of people with damaged cars.

Councils have already paid out £47 million in compensation for damaged cars in the last twelve months and many say they just don't have the money to even assess the problem, let alone begin to pay for it.

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Fake accidents causing high insurance prices

Car insurance premiums have been risen sharply due to fraud, according to MPs on the Commons Transport Select Committee.

They were informed by the police that there are as many as 30,000 staged accidents a year. The select committee is calling for a dedicated police unit to be set up which should be paid for by the insurance industry in order to tackle the escalating problem.

Labour MP Louise Ellman, Chair of Transport Committee and Nick Starling, director of General Insurance at the Association of British Insurers, debated the issue.

This is what they had to say:

Louise Ellman commented "The police told us that they knew of about 30,000 staged accidents last year and that's where accidents are contrived; a driver deliberately slams on the brakes, the car behind goes into them, a large number of people then make claims for injuries they may or may not have sustained. In some cases the whole incident is fictitious. This is done by criminal gangs costing a great deal of money and the police say that they don't have enough resources to really root that out but they could do more if they had closer working with the insurance industry. So that is one of the areas that we think should have more attention.

Nick Starling was asked why the insurance industry are you not working more closely with the authorities and the police in particular?

He responded "We do work extremely closely with the police. We set up something called the Insurance Fraud Bureau five years ago and it's the Insurance Fraud Bureau that's actually led on analysis of this problem, identifying it and going to the police with the issues and they've had some big successes round prosecutions. It's a big problem, but the biggest problem in motor insurance is in fact the ever escalating cost and number of personal injury claims fuelled by claims management companies and we think that the Committee has missed an opportunity to really tackle that as the central problem which is driving most premiums up.

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Discrimination and car insurance

Previously the Government and the insurance industry agreed that insurers will ‘signpost’ customers who are turned down because of their age – by referring them on to an insurance broker or another provider who might be able to offer coverage.

However, according to the mystery shopping survey conducted, 15% of people aged 85 or above are not given phone or online quotes for motor insurance because of their age. A further 80% of those are not directed on.

People believe that these results prove the new agreement introduced in April 2012 by the Association of British Insurers does not seem to work effectively.

The findings suggest that a lot of older people are being denied the right to drive and deprived of their independence, purely on the basis of age rather than actual risk.

As a result, age discrimination in insurance and other financial services is legally permitted to continue.

 Our experience have taught us that it is feasible to provide successful insurance products to the market without upper age limits or any hidden charges.

Research involved 175 older people aged 60 and over shopping for phone or online quotes from 39 leading insurance companies.

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Driving with safety, keeping your insurance down.

Driving is an essential part of everyday life around the country and the world; however, such a task comes with a risk. Not every person is thoughtful and attentive when inside of a car. In the year 2010, over 208,000 road casualties took place in the UK. Though this is less than the year 2009, it is still something to take under consideration. If a person wishes to remain safe, it is crucial to drive defensively. 

Try not to drive when emotional

It is important for a driver to stay away from the wheel of a car when he or she is emotional. A person may be unable to focus on the road if he or she is angry. The driver poses a risk to other drivers and pedestrians. Sadness and frustration are also common emotions that lead to accidents. Another individual should handle the driving until the other person is calm and fully ready. If a person feels tired, he or she should set time aside to sleep. This is the safer alternative for everybody in the long run.

Leave early for your destination 

Some people experience an accident because they want to get to a destination quickly. A driver may be late for a doctor’s appointment; if this is not the case, the driver may simply wish to go home. It is an awful idea to leave late for a meeting or other event. When a person is late, he or she is likely to make hasty and dangerous mistakes. This is something which may affect both young and older drivers alike. If a person believes that it is not possible to leave early, a friend or family member may prove useful. 

Pay attention to Other Vehicles and rules

Reckless driving is a problem that many countries deal with; no matter where a person lives, chances are high that car accidents play a part of daily life. However, this does not mean that accidents cannot be prevented. The community benefits when a person takes on courteous driving habits. It is not difficult to take on defensive driving techniques with some practice. The information above can help a person take the right steps. If a person still has questions, he or she may wish to ask friends, family members, and trusted members of the community. Safety is not an issue to ignore.

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The name of your job could impact your insurance

Job titles are crucial to car insurance companies, as they assess how risky a proposition new clients are.

Small changes in the wording can make a big difference to the quotes that are offered.

A report by Rex who's convertible is his pride and joy, but he has two different job titles and they have very different effects on his premium.

So the same man, the same car and a saving of 40%. It's because insurance companies see people who work in the media and entertainment as risky. There's an idea that they're driving around trying to meet tight deadlines, are more likely to have famous passengers and to drink on the job. Insurance companies use facts about your work to decide how much to charge you. It's often common sense; plumbers are likely to drive a lot and have expensive tools in their cars so they pay high premiums. But teachers and office workers are seen as a safer bet.

But like Rex, you can tweak your job title whilst still telling the truth and save yourself some money.

If you are looking for new insurance, it's always worth checking how your job title can affect your policy and to make sure you're fully covered.

But the law on this is very clear: if you lie to insurers or give them false information it's fraud. If you've got any doubts at all, the best option is to check with the company.

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Car insurance news inside! I am now less busy so more news shall follow as usual.

Insurance premiums could fall

UK drivers overwhelmingly want to see the back of the personal injury (PI) ‘compensation culture’ that is now costing every motorist an extra £118 on their annual motor insurance premium, reveals the reporters in a new report issued today.

The report 'Road to Reform: Reducing Motor Premiums by Reforming the Personal Injury Claims Process’ is launched ahead of the Ministry of Justice Whiplash Consultation closing on the 8th March 2013. The report sets out that proposals to improve the motor insurance PI claims system and reduce excessive costs that have contributed to premiums rising by 80% since October 2008. The research has also found that if insurers handled claims directly, an estimated £1.5bn of excess cost could be stripped from UK motor insurance premiums.


Ridding the rubbish

Central to the proposals for reform is its call for a legal requirement on PI claimants to contact the ‘at fault’ insurer in the first instance rather than going to or being referred to intermediaries including claims management companies and PI lawyers. This will result in a halving of the cost per claim as third party legal fees (average current legal fee is £2500 for a ‘typical’ whiplash claim) are removed from low-value personal injury claims, a saving that will benefit all motorists in reduced premiums. 
The research shows that there is no difference in the compensation awarded to the injured party if handled directly or via third parties. However, the multiple third parties that can get involved in a claim add significant cost in fees. They estimates that handling claims directly will cut £1.5bn of excess cost, approximately 50% of the current cost of handling the 550,000 whiplash claims received by insurers every year. This cost reduction could lead to premium falls of around £60 a year for the average driver.

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Going to be busy for a few weeks.

Hello everyone, i am going to be busy over the next few weeks which means i wont be able to bring you news on car insurance over these weeks.
I hope you can be patient over this time as after i will be back to normal in giving you snippets of car insurance news.
Thats all i can give you so unfortunately this blog will not be active for a good week or two sorry about that.

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Reasons why your car insurance costs as much as it does.

Gender

In years past, insurance companies offered rates that were gender specific. Detailed analysis of claims statistics has revealed that male drivers are involved in more accidents on average and that they are involved in claims with a higher cost. To account for these facts, the insurance companies historically insured males at a higher rate. However, a recent ruling by the European Court of Justice has determined that this is a discriminatory practice, and insurance companies must now take gender out of rate determinations. Many insurance companies are adjusting their rates accordingly but perhaps not in the way expected. Rather than lower male drivers’ rates, they are increasing female drivers’ rates. Therefore, female drivers may expect to see their rates increase even more at their next renewal.

Driving History

If your car insurance rates are not as low as you would like them to be, you can consider improving your driving history. Car insurance companies provide you with a specific premium amount customised to their estimated financial risk to insure you. One of the most significant indicators that they look at is your driving history. If your driving history is spotless and has no claims, the insurance company may feel comfortable in providing you with a lower rate. On the other hand, if your driving history is spotted with traffic violations and car accidents, the insurance company will view you as a riskier driver. Your rate will reflect this. Improving your driving record is a great way to reduce your high rates or to keep your lower rates low.

Vehicle

The fact is that the cost to repair damage to one vehicle may be far more expensive than the cost to repair damage to another vehicle. Further, if a car needs to be replaced, it will cost the insurance company more money to replace one model than it would to replace another model. When an insurance company calculates rates, it will review the average repair cost of the model as well as the replacement value of a model. Generally, models that are higher in value or that have more features and electrical components will have a higher rate. When you shop for a new vehicle in the future, you can compare rate quotes on different models to learn which will be more affordable to insure.

The cost of insurance is increasing for many drivers, but there are some things you can do to keep your costs low or to lower your existing rates. 

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Female drivers to pay a lot more for car insurance?

As a result of a European Court of Justice Ruling that insurance companies can no longer use gender based risk assessment for calculating car insurance premiums from December 2012, it’s likely that premiums will rise for young women drivers.

Previously, young female drivers had been paying significantly less for car insurance because statistics showed that they experienced lower accident rates as well as actual claims costs.  The average claim cost for an eighteen year old female is £2,700 whereas their male counterpart average claim cost is £4,400.

Insurance companies will have until December 2012 to calculate a new pricing model that eradicates this gender based factor from insurance premiums.  The upshot is that young female drivers are likely to see a significant increase in their car insurance premiums – as much as 50% in some cases – to subsidise male drivers.  It is also unlikely that young male drivers will see a comparable decrease in their premiums because of the known statistical risk.

With higher car insurance premiums forecast for young female drivers it is worth shopping around and to use a reputable insurance broker with access to a panel of insurers.

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New plates for new drivers?

The government is currently considering issuing newly qualified drivers with probationary plates in an effort to improve road safety.

The measure, which is one of several under consideration, is aimed at making fellow motorists aware of drivers who have just passed their tests and improving their high accident ratio.

Currently an 18 year-old driver is three times more likely to be involved in an accident than a insurance policy holder 30 years older.

Full details of the probationary plate scheme are expected to be announced in the summer, when the Department for Transport launches a consultation document on the issue.

Recently compiled figures by the Association of British Insurers discovered that drivers under the age of 25 account for a third of accidents on the country's roads despite only representing one eighth of all drivers. Drivers aged between 17 and 19 years old were also involved in 12,000 crashes in 2011, with over half resulting in deaths.

Drivers in Northern Ireland currently have to display a 'R' plate for the first 12 months after their test and are limited to a 45 mph speed limit. 

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Fuel strike in the UK

Whether you use petrol or diesel, fuel is something many of us simply can’t do without, whether it means getting to work, taking children to school or more seriously it could impact on the emergency services. 

The general public seem to be getting conflicting information and there has been scare mongered which resulted in panic buying.  Petrol stations have seen long queues for fuel as a result of the news and some stations already running dry.  Hundreds of tanker drivers are now looking at going on strike because they want responsible minimum standards.  They say that a ‘turn and burn' culture is forcing drivers to deliver faster for less, raising fears about public safety.  

Ed Davey, the Energy Minister has recommended that motorists should fill up their tanks when they become half-empty in case of a possible strike by fuel tanker drivers, rather than filling up when a third full. 

Around 90% of petrol stations in the UK, including Shell and Esso garages and supermarket giants Tesco and Sainsbury’s are supplied by about 2,000 tanker drivers in the Unite Union.  It is important to note that no strike days have been given yet and the Union will have to give seven days notice before any strike can take place.   Acas are currently trying to set up talks between Unite, who are the UK’s biggest trade union and the parties involved in the dispute 

Ed Davey said "We don't think people need to change their behaviour very significantly at the moment, I think our major advice is that people just need to do the sensible thing if they're going into the petrol station, they should get a full tank of petrol, not a half-tank of petrol, and they should top up where necessary.”

“If we can make sure the nation's cars and vans and lorries ... are going around with tanks of petrol and diesel that are fuller than normal, that will be part of the resilience for our economy so, this completely wrong strike, we can make sure that we are ready for it and it doesn't bring the economy to a standstill."

The Retail Motor Industry Federation (RMI) states that petrol sales went up by 45% and diesel up 20% amid all the talk of a strike. The government should have sought industry advice on how to avoid panic-buying and fuel shortages.

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More tips for spending less on your car insurance.

There are easy ways to save on car insurance, you just have to know where to find them. See what the car insurance experts at Desjardins General Insurance have to say about that. They just might help you to reduce your vehicle insurance rates.

Consider The Age Of Your Car: 

If you own a car that is more than 10 years old, you may want to remove collision and comprehensive coverage, especially if the total value of the car is low. It all depends on your situation. Can you afford to repair or replace the vehicle with something similar if you had an at-fault collision or if it was stolen? If not, it might make sense to maintain the coverage. 

Choose Your Vehicle: 

That great deal on a new car might look perfect on paper, but you may want to find out what your insurance premium will be before you sign the purchase agreement. For example, luxury cars can be more expensive to insure due the higher repair or replacement costs compared to a less expensive car. Likewise you will probably pay more to insure a high performance car as these are also expensive to fix or replace and are deemed more likely to be stolen, driven at high speeds and involved in high impact collisions. 

Where Are You Going? 

The distance you drive and the purpose of your driving is taken into account when calculating your premium. If you have to commute a great distance to the office, maybe think of taking public transit. You could save on gas, wear and tear on your vehicle, and on your insurance premium.

Driving With Safety First 

It sounds like a no-brainer, but having a clean driving record is one of the best ways of keeping your insurance costs down. Speeding and other traffic tickets can have a big impact on your insurance premiums. The same is true of at-fault accidents. 

Consider Combining Your Home And Auto Insurance: 

In some cases you may be eligible for a reduced rate by joining your car and house insurance, especially if you've been with your insurer for a while. Another simple way to increase your auto insurance savings and enjoy greater convenience is to consider insuring all of your personal vehicles with one provider. 

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When it comes to sharing your car

Allowing your car to a friend or family may seem like the nice thing to do, but it could end up landing both of you in court facing fines of up to £5,000 and up to 8 penalty points. That’s because many people assume that their friends and family are insured to drive their vehicle on the owner’s car insurance policy when, in fact, that is not always true.

The biggest misconception is that having your own car insurance will cover you for driving any other vehicle. However, this is not automatically the case, with many policies offering no cover whatsoever for vehicles other than the main vehicle insured. In some cases, your own car insurance will provide third party cover for another vehicle (if you have the owner’s permission), but even this is a huge risk. Although you are legally covered, if the car is involved in an accident that is your fault, then there will be no payout to compensate the owner of the vehicle you have borrowed.

Of course, many people don’t even worry whether the driver is insured or not when lending out their car, not realising that this is illegal for both the driver and the owner. If you knowingly allow your car to be driven without insurance, then you are as guilty as the actual driver in the eyes of the law. It is your car and therefore your responsibility to ensure that it is driven legally.
Even people who know the law and understand the dangers of driving without insurance, as well as the risks to their own licence and their vehicle itself, still lend to friends without cover. 

Students going to university have a lot of possessions and well-meaning parents, relatives or friends with a van have been lending their vehicle to students to move into halls or digs. The extra space is great, but driving without van insurance is bad news for the student driver, whose future car insurance premiums will be astronomically high, and for the van owner, who may find their livelihood at risk if they lose their licence and depend on their van for work

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Young drivers pay a high amount of their wages to cover their car insurance.

It is a well-known fact that younger drivers, who are seen as the biggest risk on the roads, have to pay considerably higher insurance premiums than more experienced drivers. However, in recent years this situation has become considerably worse and many young drivers are now having to spend up to a fifth of their wages on their car insurance.

Recent research has revealed some frightening figures. For a fully comprehensive insurance policy, for example, young drivers are being quoted an average of £2500 for a year’s cover. This gets even worse if you happen to be male because then the average goes up to almost £3500 a year.

If we take into account that the average wage for the 18-21 age group is around £14,000, then this means many are spending at least one fifth of their wages on car insurance alone. For some it can be as much as a quarter.

These figures are in stark contrast to the group that generally enjoys the lowest premiums, which is older drivers. Over 70s pay an average of just £450 a year for comprehensive cover, while the figure is just slightly higher for those in the 66-70-year-old bracket.

Unfortunately, it all comes down to statistics. The cost of the premium for each age group is calculated according to the statistics which are said to determine the exact risk each group is likely to pose.

While the premium may be affected by the value of the car, the level of experience the driver has in addition to their previous driving history are the most influential factors. Unfortunately, if a driver has no history of safe driving – even if this is because they have only just started to drive – then they are likely to be hit with the highest premium possible.

Fortunately, there is now an option available which could have a serious effect on younger drivers’ insurance premiums. This involves what is known as a ‘Black Box’. In simple terms, this is a device that is installed somewhere on the car (usually under the bonnet), which records various aspects of a driver’s performance such as the average speed, how hard they accelerate or brake and how they handle the car as a whole.

This information is then automatically sent to the insurers, where it is kept on the driver’s file. Every 90 days the data will be accessed and drivers will be rewarded with a premium discount if they are driving correctly. Of course, should the data show that the driver is driving badly then their premium is likely to increase.

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Lower your insurance costs

The easiest way of making your insurance cheaper is to shop around. It’s a competitive market, and with plenty of providers keen on getting your business a few minutes effort could save you hundreds.

You can just phone around a number of providers to see what deal you can get, but thankfully there’s a quicker way to do it. Price comparison sites will allow you to put in your details and get quotes from hundreds of insurers.

If you plan on paying your premium monthly, check that the insurer doesn’t charge interest on the cost. Some providers charge in excess of 20 per cent for people looking to pay monthly, which really will hit you in the pocket.

You can get reduced premiums if you don’t use the car all that often – reduced mileage policies cost considerably less.

There are some more specific schemes that reduce premiums. One insurer has trialled pay as you go schemes, where your cost rises for every mile you drive. Another is fitting tracker devices to the cars of young drivers and applying the premium on the basis that they don’t drive late at night. If they do need to do so, a one of charge is debited from their bank account. This product has proved amazingly popular, so much so that there is a waiting list for trackers to be fitted.

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Predict and find out insurance costs before you buy

If you’re thinking about buying a car, then car insurance is going to be a serious consideration. Reports show that a third of British consumers are paying more than they need for car insurance and 50% fail to shop around. Here are a few tips to make the process easier and quicker, so that you don’t get caught out.

Check your driver’s record for infractions. You need to have this on hand to get realistic quotes.
Think about which kind of car you need. Every car in the UK corresponds to one of 50 car insurance groups. These are determined by the cost of the car, parts and maintenance as well as aspects of its performance such as acceleration and top speed.

Shop around for the best cover. In order to obtain the best deal, research shows that you need seven quotes. Make sure that you are comparing fairly as a cheaper quote may come with less cover. You can compare online. Bear in mind that not all insurers take part in comparison sites so be prepared to look further afield.

Agree to a predetermined mileage restriction. It can bring you a large discount but this can be tricky to work out. However you do need to make sure you get it right, or any claim you make will be in jeopardy.

Fit a tracking device, alarm or immobiliser, keep your car in a locked garage or take an advanced driver’s course. All these measures will help bring down the cost of car insurance and are good ideas in any case.

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Great News On Car Insurance prices (UK)

Car drivers across the country have had a bad few years for insurance premium increases recently, but according to figures released by the AA today premiums have at last started to fall.

Every quarter the Automobile Association release the latest figures from their AA British Insurance Premiums Index which keeps track of various insurance markets including car insurance, as well as home insurance.

Naturally there’s problems with every survey of this nature, the main one being that not every customer uses price comparison to check the entire market. Those who stick with their existing insurers will often be taking out insurance that’s far more expensive than the cheapest policy. What the AA’s finding indicate though is that customers who shop around, such as those who use the Monkey price comparison tool, will get a better deal than they did three months ago.

The index shows a fall of 1.4% in the average premiums over the last three months to £747.75. The fall isn’t that great, but it’s a turn towards the right direction and represents a saving of around £10 per policy, which incidentally is the same amount we donate to charity if you take out a policy after using our price comparison service.

The survey also found that over the last year there’s been a fall of 4.1%, which represents an average saving of around £30. Enough to buy the bottle of champagne to celebrate your lower premiums!

Insurance premiums had been rising for various reasons, but one of the main causes was the rise of personal injury claims against drivers. But despite a continuation of claims from personal injury we’re still seeing a downward trend.

The reason is likely to be due to the legislation that came into force on the 1st of April limiting these claims. Insurers are predicting the impact of this over the next year will cut their costs. The Legal Aid, Sentencing and Punishment of Offenders Act 2012 will change how the personal injury market works by banning referral fees. This should help end the common place calls by marketers asking if you’ve been injured, and should reduce claims against motorists.

In recent years there’s been much controversy about no-win, no-fee whiplash lawsuits where the injury is hard to prove or disprove. Some companies have been encouraging those involved in crashes to claim whiplash in order to get a payout from the insurance company of the driver at fault. The number of unscrupulous companies doing this is thankfully likely to fall as a result of these changes, which should reduce premiums for everyone.

The biggest change to insurance recently was the ban on insurers taking gender into account. This has meant that for women, especially young women, premiums are considerably higher than they used to be even if the overall trend is down.

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Insurance rates as it stands

A new survey has shown that in the third quarter of 2012, comprehensive car insurance premiums fell at a record rate. Car insurance price index from confused.com and Towers Watson recorded an average fall in rates of 5.1% between July and September – the steepest reduction since research started in 2007.

As a result of this, rates have dipped by 10.3% in the last 12 months. At the end of September, the average comprehensive premium in the UK stood at £757 – a drop of £87 in the last year. In addition, for the first time since 2007, the annual price movements for 3rd party, fire and theft cover also became negative, falling by an average of 2.1% (24%) over the last 12 months.

The largest portion of price reductions was accounted for by young drivers – specifically females. Comprehensive rates for all 17–20 year olds have fallen by 13.6% in the past year. Females in this age group having seen average decreases of 17.3%. This was significantly aided by a 9.1% drop in the third quarter.

Duncan Anderson, Towers Watson’s global pricing and product management leader states that price decreases of this order signify jostling for position amongst insurers due to the implementation of EU gender ruling from 21st December 2012.

Having won more ‘young driver’ business, they will seek to retain profitable segments by substituting other factors for gender and minimising the impact of the future price rises that are anticipated to affect many women in 2013. 

Shockingly, almost half of drivers would still lend their car to a friend, knowing they’re not insured. When this happens, both parties are committing the offense and could land themselves a fine of up to £5,000 and up to 8 points on your license, or in severe cases, even a full ban.

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Tracker insurance information

Tracker insurance can help young drivers reduce the cost of their annual motor cover premium, but the various companies use this new technology, known as telematics, quite differently from one another and this is causing confusion among new motorists.

Telematics technology, contained in a small box fitted to the insured's vehicle, monitors an individual's driving habits and allows them to prove to their insurance company that they are a safe and responsible driver.

By reviewing the data collected from their car journeys, motorists can alter negative driving behaviour to become even safer on the roads.

However, one insurer using telematics technology is also letting the young driver's parents view the data results.

Under this company's proposal, drivers who stay in the "green" zone will not receive any correspondence from the insurer, whereas drivers who enter the "red" zone will receive a written warning along with their parents – any driver receiving two warnings within a month face the possibility of a maximum of £400 additional charge being levied.

The founder of the company states, "Youngsters may be wary of [the technology] because it could be seen as a spying eye – a sort of 'black box' which records their every move."

For those new drivers who wish to improve their driving with a telematics device, but who don't want to be punished for mistakes or have results shared with parents, there are companies who accommodate these individuals.

Some tracker car insurance providers, such as insurethebox, offer data to help new motorists drive more safely, but do not directly penalise them for negative driving behaviour and do not send collected data to their guardians.

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Interesting fact about insurance companies

It is well known that married couples often receive better rates with insurance companies when both partners are on the same policy and this can be up to a fifth off the price of the premium. Research has shown that married couples do drive more safely.

However, it seems there is still a big discrepancy when it comes to couples who are in civil partnerships of the same sex insuring on the same policy.

Women in civil partnerships were more likely to be offered the reduced motor insurance premiums, but nonetheless almost two thirds of companies did not recognise the partnerships. If both members of the civil partnership were men then the premium would be slightly higher, the reason for this is that, in general, male drivers are considered to be a higher risk.

Those that did recognise civil partnerships offered an average of around 12 per cent motor insurance discount to women, compared to an average of around ten per cent discount for men.

Motor insurance brokers have revealed that only around one fifth of men in civic partnerships were offered the reduced motor insurance quotes offered to married couples as lower risk drivers.

Brokers estimate that these are the same figures as for heterosexual couples but say that they have as yet been unable to compare data.

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Car insurance is getting cheaper they say

The cost of motor insurance has fallen by 4.1% over the last year, according to an AA survey of the cheapest deals on the market.A typical premium among the most competitive products dropped by 1.4% in the first three months of the year, it found.It said that changes in the law and competition among insurers had pushed down prices.And it expects further falls as new reforms come into force.

The AA Insurance Shoparound survey takes an average premium for a standard set of risks from the five cheapest quotes from insurers and price comparison websites.

This has shown large rises in insurance costs over a three year period, but has now started to fall.

The average premium among the cheapest deals stood at £700.

The AA said that controlling personal injury claims was key to keeping premiums down.

It wants to see a new process that would force whiplash victims to put their claims directly to the insurer of the driver who caused the crash. This would cut motorists' premiums by an average of £50 a year.

Whiplash claims were a major factor behind the rapid rise in the price of motor cover. They account for 80% of injury claims, and with most going through lawyers, Aviva suggested that all this accounted for £118 of a typical motor insurance premium.

AA said that the cheapest home insurance deals were also falling in cost, down by just under 2% over the last year.

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Car hire companies ripped at costs

Most of the big car hire companies are failing to disclose extra costs, making it "almost impossible" for consumers to find the best deal, according to a watchdog.

Which? tried to rent a car in Spain from 10 major hire companies and broker websites, but even at the end of the booking process 53% of its researchers were not satisfied that they knew the total price.

The investigation also found 75% of those who had to pay a compulsory cost for a full tank of fuel did not know how much they would need to pay when they picked up the car.

More than one in five (22%) did not know the amount of excess and 44% did not know the cost of the optional excess waiver to reduce the amount they would have to pay if the car was damaged.

Such payments can add more than £100 to the cost of a week's rental.

More than half (54%) did not know if the excess waiver covered them for damage to tyres, the windscreen or underneath the vehicle.

Which? is calling for all car hire fees to be made clear to consumers upfront and before they make a booking, saying that it is a principle of European and UK law that essential information such as compulsory and other significant charges must be clearly stated at the point of purchase.

Smaller companies topped a customer satisfaction survey of car hire firms by the consumer group, with Canary Islands-based Auto Reisen beating more well-known names with a score of 89%.

Goldcar was bottom of the table with a customer score of 42%.

Thrifty and Enterprise took second and third place respectively, while Europcar and Budget rounded out the bottom three.

Economy Car Hire topped the broker table of ratings with 78%, with Argus Car Hire at the bottom scoring 52%.

It is calling for all car hire companies and brokers to clearly show all the fees and extra charges on their websites during the booking process, including the amount of excess, the cost of excess waiver and what it covers, the cost of compulsory fuel and the company's fuel policy as well as the cost of all optional extras like satnavs and additional drivers.

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Audi talking business

Fiat is strapped for cash and the Volkswagen Group knows it. What’s more, VW can help. Over the years, German executives have made no secret of the fact that they’d like to add Alfa Romeo to the VW Group’s impressive portfolio of brands. The advances, however, have been met with a cold shoulder. According to the report, negotiations are taking place at the highest level in Ingolstadt and Turin, and that the deal could include Fiat’s Pomigliano plant and supplier Magneti Marelli. The official line from Audi and Fiat is that there is no truth to the rumor. And to our knowledge, Audi CEO Rupert Stadler and Sergio Marchionne haven’t met to discuss the subject as yet.We believe there is some merit to the speculation, however. Our sources tell us that the Agnelli family could well be open to a sale of Alfa Romeo, Marchionne’s posturing notwithstanding. However, some of the details of the rumor don’t exactly jive with what we’re hearing in Germany. For example, the Volkswagen Group has shown no interest in taking over one of Fiat’s production sites. The brand is interesting, but its baggage isn’t. Audi also has no interest in purchasing Magneti Marelli. 

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Nissan moving off your average car?

Sometimes you’re known by the company you keep. In the auto industry, you’re known even more by the people you hire, especially when one of those people is Fred Diaz, Ram Truck brand president and CEO until just a few days ago.Nissan, who flirted with Chrysler over truck development in the past, has put Diaz in the newly created position of divisional VP of sales and marketing for the US. He will also be responsible for Nissan’s growing light commercial lineup.When Nissan was looking for a partner on full-size pickups, Diaz was instrumental in those talks, representing the Auburn Hills automaker. Now he finds himself on the other side of the fence, with Nissan possibly looking at the truck market more seriously considering Diaz’s resume.Nissan’s two pickups Titan and Frontier 

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Ugly looking audi!

Hello i have recently just spotted a very odd looking audi that i would find embarrassing to drive. As you probably know I'm talking about the audi a2 which is exactly flashy. I know i'm late as the audi a2 has been out a while but seeing one makes me thing why would anyone buy that. Its a funny shape and not something you would want to be caught driving in. I suppose if you want to look different you could buy one, but you're not going to look cool (just a quick heads up). If you got this car for free then fair enough but please don't tell me you bought one! Its a good job audi are a good car make and have plenty of other ranges that look nice and built like tanks (good engineering). Personally i think it could be one of the most ugly looking modern cars and i mean even some eco friendly cars look better than the a2! Its crazy stuff, i wonder how many they sold, it can't be many. I just shake my head inside when i see one, they're just too funny looking.

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Eco friendly

The latest Volkswagen Golf , Show is now available to order in the UK, with CO2 emissions from just 109 g/km.Despite the low CO2 figure, the new performance Golf is still capable of returning a 0 to 62 mph time of 7.5 seconds and a top speed of 142 mph. In the UK, prices start from £25,285 on the road.The new GTD is powered by a 2.0-litre turbocharged common rail diesel engine. Even with high top speeds and acceleration, this version of the Golf is capable of consuming one gallon of fuel every 67.3 miles, making for CO2 emissions of only 109 g/km.With the optional six-speed DSG, fuel consumption is 62.8 mpg and CO2 emissions rise to 119 g/km. As a sign of how eco vehicles have advanced over the years.As well as high performance, a high level of safety equipment comes as standard in the Golf . The passenger seat is made from very strong steels with a before accident system that closes windows and the sunroof if an accident is likely to improve the effectiveness of the seven airbags.

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View on Insurance

Since car/auto insurance is very expensive it is important that you look around for the best price and the best deals. Although the current economic climate is in a bad state, i think this is the opportunity to get cheaper things such as insurance. Since things like car insurance for younger soars you will find that people over the age of 21 should be getting very cheap car insurance compared to your past insurance payments. Of course the cost also has to do with the car, but even so they are becoming more lenient and less expensive for drivers over the age of 21. Also companies are now charging almost equal amounts for car insurance for men and women rather than being one sided in the past, meaning if you were a man you would have to pay more as men as seen as more reckless drivers, especially younger men in their teens or early twenties.

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