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Welcome to Expert Car Insurance News. Here you will find all the latest information concerning the motor insurance industry.Posted November 2005 Confusing signs of things to come. Interesting opinions about British road signs that are supposed to be making our roads safer and easier to use and some off-the-wall suggestions for new signs to help our motorists cope with road conditions in 2005 have been reported in a recent national survey undertaken by Virgin money car insurance researchers. Many of the current signs are seen as out-dated and irrelevant, leaving British drivers irritated and confused. The sheer number of signs causes problems, with almost half of UK motorists believing that there are too many and more worryingly over a quarter of them saying they are unable to read them because they are too confusing. Virgin’s document Road-Signs of Our Times reported that just 10% of motorists found roadside signage in their own area was satisfactory. Reflecting modern motoring issues, some of the interesting and popular suggestions for new road signs, if a little tongue-in-cheek, included the following. Drivers throughout the country felt a sign indicating the presence of boy-racer type driving in the area would be beneficial (46%). A sign heralding parents in 4x4s undertaking the morning and afternoon school run was also very fashionable (41%), particularly popular in the North-West whereas the Welsh favourite were signs alerting motorists to older drivers likely to break hard without warning and maneuver without signaling (39%). Suggestions outside these top three were signs warning drivers of: Jason Wyer Smith of Virgin Money Car Insurance commented ‘… that there is definitely an argument for addressing the relevance of signs on our roads today.’ Posted October 2005 Car Insurance Premiums Increase For Young Drivers Despite fierce competition in the car insurance market for online and offline customers, the latest quarterly AA British Insurance Premium Index figures reveal an increase of 2% in the cost of third party and third party fire and theft cover compared to 1% for comprehensive policies. According to Kevin Sinclair of the AA "Third party cover is typically bought by inexperienced drivers insuring older cars. Young men particularly suffer high premiums, as they are the most likely to pay the penalty of an expensive crash. Many insurers choose not to quote for them." The AA British Insurance Premium Index collates premiums on a quarterly basis from leading UK traditional insurance companies, direct providers, brokers and companies who sell motor policies online. Posted October 2005 Car Insurance Premiums Increase For Young Drivers Despite fierce competition in the car insurance market for online and offline customers, the latest quarterly AA British Insurance Premium Index figures reveal an increase of 2% in the cost of third party and third party fire and theft cover compared to 1% for comprehensive policies. According to Kevin Sinclair of the AA "Third party cover is typically bought by inexperienced drivers insuring older cars. Young men particularly suffer high premiums, as they are the most likely to pay the penalty of an expensive crash. Many insurers choose not to quote for them." The AA British Insurance Premium Index collates premiums on a quarterly basis from leading UK traditional insurance companies, direct providers, brokers and companies who sell motor policies online. Posted October 2005 Esure launches Woman Drivers Car Insurance Brand Peter Wood the founder of both Direct Line and Esure.com has initiated yet another insurance brand - Sheilas' Wheels. The key objectives of the new brand are to provide tailored car insurance products to women drivers at competitive prices and customer service to match. Sheilas' Wheels claim that the increased limits on their personal belongings cover reflect the true cost of possessions, for instance most other policies provide just £100 cover for lost or stolen handbags compared to £300 offered by the new company. In terms of ownership, the new company is backed by Esure.com which is owned by the Halifax and Bank of Scotland. Only time will time whether Sheilas' Wheels becomes successful as competition for this market segment is already fierce, which is good news for females. Other high profile insurance companies already targeting women include Diamond, Women on Wheels, ladybird Insurance, Girlmotor.com and First Alternative. Posted September 2005 Norwich Union Continue Black Box Pilot Trial This company has been undertaking a 2 year pilot for its own pay as you drive insurance scheme which is the first of its kind in the UK. The scheme involves over 5000 Norwich Union policyholders’ cars being fitted with a "black box" which records every completed journey they make. The results reported so far have meant that they are sufficiently satisfied to be recruiting an extra 1500 young drivers between 18-23 years of age to extend the trial. What is a Black Box? The principle is easy to follow. There is a standing car insurance premium which is based on your vehicle and where it is kept overnight etc. to cover the risk of the car being stolen or damaged when parked in its normal position. To this is added an amount calculated on how far you have driven, on which roads and at what time of the day. The rate per mile differs dependent on such things as the age and gender of the policyholder and their insurance history as well as how the car is being used. Travel between 11.00 p.m. and 6.00 a.m. is being charged at a very high insurance premium due to the higher propensity of car accidents during this time. The "black box" uses similar technology to that used in mobile phones and is fitted either in the passenger area or in the car boot and will use GPS technology to send information back to the insurance company’s computer which can interpret this data into how far the car has been driven, the speed at which it travelled and what time the journey took place. This information produces the cost per mile element of your pay as you drive monthly car insurance premium which is notified and paid on a monthly basis. April 2005 to July 2005 News Articles May 2004 to December 2004 News Articles March 2004 to April 2004 News Articles
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