-
ABI to tackle premium finance charges
- 25/04/2024
- Posted by: Alan Feldberg
- Category: News
Members of the Association of British Insurers (ABI) have announced a raft of new principles to manage premium finance charges. Premium finance charges are the fees applied to policyholders who pay for motor insurance monthly. The ABI announced a series of steps to tackle increasing motor insurance premiums in [...] -
Premium prices show signs of easing
- 19/04/2024
- Posted by: Alan Feldberg
- Category: News
New figures have revealed that car insurance premiums fell by five per cent in the last three months. According to Confused.com’s price index, produced in collaboration with WTW, comprehensive car insurance prices decreased by an average of £54 to £941. The price index analyses data from over six million [...] -
BIBA and Novo unveil new EV-dedicated scheme
- 17/04/2024
- Posted by: Alan Feldberg
- Category: News
The British Insurance Brokers’ Association (BIBA) has joined forced with Novo to launch a new motor insurance scheme tailored directly for electric vehicles. Available to all BIBA members, the scheme offers comprehensive cover, like-for-like replacement mobility and bespoke support during the claims process by a [...] -
Motor Ombudsman announces Howden partnership
- 09/04/2024
- Posted by: Alan Feldberg
- Category: News
The Motor Ombudsman has announced a new partnership with Howden to enhance services to both policyholders and members. Following the agreement, Howden motor trade insurance customers not already accredited to The Motor Ombudsman – such as garages and mobile mechanics – will receive a tailored package when [...] -
Motor insurers report record year of payouts
- 08/04/2024
- Posted by: Alan Feldberg
- Category: News
Motor insurers paid out an average of £1.13m in compensation every hour last year, according to new figures from the Motor Insurance Claims Tracker. It reported that from 2.3 million motor claims submitted last year, the total paid out was £9.9bn, which was 18% more than in 2022 and the highest amount recorded [...] -
Drivers warned of airbag scams
- 01/03/2024
- Posted by: Alan Feldberg
- Category: News
Drivers have been warned of a new crash data clearing scam that falsifies if a car's airbags have been deployed. Crash data clearing involves firms offering to reset motorists’ locked airbag modules after the airbags have gone off, potentially saving hundreds of pounds just on airbag module repair alone. The [...] -
ABI announces new motor insurance initiative
- 27/02/2024
- Posted by: Alan Feldberg
- Category: News
The ABI has unveiled a series of steps the industry is taking to combat the rising costs of motor cover. In collaboration with its Consumer Advisory Group, it will commission research into various social policies focused on helping low-income households manage their insurance costs. It has also published a [...] -
Van premiums surge by 36%
- 06/02/2024
- Posted by: Alan Feldberg
- Category: News
New data from the Consumer Intelligence Van Insurance Price Index has revealed that the average quoted price of van insurance rose by 35.9% last year, the highest annual increase for more than six years. Quoted premiums for van insurance rose four per cent in the three months to the end of December 2023, but this [...] -
Motor insurance prices continue sharp rise
- 05/02/2024
- Posted by: Alan Feldberg
- Category: News
Motor insurance prices jumped another 12% in the fourth quarter of last year, meaning premiums rose by more than 25% over the whole year. According to figures released by the Association of British Insurers, average polices in the last three months of 2023 were £627. This is 12% higher than the £526 recorded in [...] -
Motor insurance prices surge 67%
- 12/01/2024
- Posted by: Alan Feldberg
- Categories: Featured, News
The average quoted price of motor insurance rose 67% in the year to November, according to data from the Consumer Intelligence Car Insurance Price Index. This represents the sharpest annual price rise on record, beating the 61% rise in the year to August. Younger drivers have experienced the biggest rises in [...]