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Warning on invalid insurance policies sold through Aston Midshires

January 17, 2012 By Katrina Campbell Leave a Comment
car-insurance-keys

A warning has been issued to any drivers who have car insurance policies with Aston Midshires after it was announced that the company is under investigation for selling invalid insurance policies.

Aston Midshires targeted young drivers in particular, offering competitive prices on insurance policies for new drivers and learner drivers. However there are fears that thousands of drivers on UK road could be driving without any form of insurance as the policies sold by Aston Midshires have been brought into question after 30 complaints were received from drivers who’d discovered their policies were not legitimate.

The Financial Services Authority, the police and Trading Standards are all reported to be carrying out investigations into the insurance provider. So far, the authorities have discovered that the company is linked to a foreign address, however Aston Midshires have most recently pulled down their website and also stopped answering phone calls.

When the authorities visited the building listed as the UK address for the insurance company in Leicestershire, the owners of the building said they had no record of the company ever operating from the address.

The consequences for drivers who have invalid policies with Aston Midshires is far reaching as not only are they not covered should they have an accident in their vehicle, but the consequences will affect the other drivers if they have the misfortune to be involved in an accident with a driver who doesn’t have valid insurance.

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New car insurance provider for young drivers is launched in the UK

December 9, 2011 By Katrina Campbell Leave a Comment
Ingenie-car-insurance

A brand new car insurance provider with policies aimed specifically at young or first time drivers has been launched in the UK this week.

INGENIE is masterminded by three individuals namely the ex footballer and sports pundit Gary Lineker, former MD of RSA Insurance Group, Steve Broughton and the Chairman of British Airways, Sir Martin Broughton.

The innovative new car insurance company was set up with the intention of providing affordable insurance options for young drivers who the company directors feel are often priced off the road. With some youngsters being issued with quotes for over £2,500 for annual cover, it’s not surprising that many are being left unable to afford to get on the road at all, and so that’s where INGENIE hope to help.

While the vast majority of other car insurance providers employ a technique known as collective risk assumption to calculate insurance premiums which often leads to all young drivers getting tarred with the same brush and being branded high risk and hit with an unaffordable insurance premium, INGENIE are proposing to utilise the very latest telematics technology in order to create a true picture of each drivers’ ability on the road.

Through the data collected from the technology, INGENIE will tailor a car insurance policy to that individual driver and so the safe and sensible drivers will be rewarded with lower premiums, while those who are found to less careful behind the wheel will be quoted a higher priced premium to reflect their riskier behaviour on the road.

INGENIE plan to market their product to the young drivers through social media such as Facebook, Twitter and YouTube.

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Install a camera in your car to reduce insurance premiums by up to 35%

October 28, 2011 By Paul Roberts Leave a Comment
my-camera-witness

A new in-car camera which records and retains the data of every journey undertaken in the vehicle can reduce annual car insurance premiums by as much as 35% it has been claimed.

Mycamerawitness have launched this innovative new product which they claim will help significantly lower car insurance premiums. The high definition camera can be fitted inside almost any vehicle unobtrusively and will collect data regarding each journey which can be especially beneficial for young drivers who can show their insurance provider evidence that they are safe and careful driver, thus leading to a lower rate of cover.

As well as helping motorists demonstrate their ability on the road to their insurer, the cameras can also help in the event of accident as the evidence collected from the recording can be used for insurance companies to quickly establish responsibility for the accident, which makes for a swifter claims procedure.

As part of a special launch offer to raise awareness of their new product, Mycamerawitness are giving away motorist protection packs worth up to £320 which include the high definition camera, a hazard warning light, high visibility jacket and hazard triangle.

With car insurance continuing to rise year on year, Mycamerawitness hope that their new in-car camera product will aid motorists in their bid beat the spiralling cost of car insurance premiums.

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Win a year’s free car insurance with the Co-operative Facebook competition

October 10, 2011 By Fiona Clarke Leave a Comment
pass-driving-test

The Co-operative is offering young drivers the chance to save themselves thousands of pounds by launching a Facebook competition where the first prize is free car insurance for a whole year.

To be in the running to win this superb prize, all you need do is share how much passing your driving tests means to you with the Co-operative on their official Facebook page. Applications from drivers who have just passed their driving test, who about to take their test, and who have already passed and have been on the road for some time are all welcome to apply for first place prize of a year’s free car insurance.

There’s been much discussion of late about the spiralling cost of car insurance, especially among younger drivers of those aged between 17-25 years, and so the Co-operative decided to launch their social media competition to give one lucky winner the chance to save on the most costly aspect of motoring for a whole 12 months.

The Co-operative estimated that the cost to young drivers getting on the road for the first time is £4,459, with car insurance making up the bulk of this cost.

To be in with a chance to win the free car insurance for a year, or one of the smaller prizes on offer such as a Sat Nav for your car, complete The Big Test application on the Co-operative’s Facebook page and upload a video or photo showing how you celebrated, or plan to celebrate, passing your driving test.

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Revealed! The cheapest car for young drivers to insure

September 29, 2011 By Katrina Campbell Leave a Comment
Young-female-driver

A recent survey by an insurance price comparison website has revealed the cheapest cars for young drivers to insure in a bid to help first time motorists keep their driving costs to a minimum.

17-20 year old drivers pay the most for insurance on average as they are deemed a higher risk category to insure, and that, coupled with the spiralling cost of motor insurance which has seen premiums jump by as much as 30% in one year, is forcing many young drivers off the road as they simply can’t afford to run a vehicle.

In an attempt to help young drivers keep their costs down, price comparison website, Confused.com, carried out research across a range of insurance providers to determine which vehicles are the cheapest to insure for motorists aged between 17-20 years of age.

Out on top as the cheapest option for young drivers was the Ford Ka, followed by the Peugeot 107, both of which have small engine sizes and are not especially targeted by thieves, helping to lower the cost further. One of the most expensive vehicles for young drivers to get insurance on was found to be the Honda Civic which cost on average £4,006 to insure for the year.

The research also highlighted how the use of price comparison websites can help reduce premiums as young drivers who shop around can save as much as £594 on their annual premium.

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Young drivers pick up the bad driving habits of their parents

September 16, 2011 By Paul Roberts Leave a Comment
road-rage

A recent survey by car insurance provider, AXA has found that the way in which parents of young people conduct themselves when behind the wheel is likely to be replicated when their children take up driving as the study suggests we are more likely to pick up the bad driving habits of our mother or father.

The AXA Car Insurance survey discovered that drivers aged 18-30 and three times more likely to get banned from driving or to receive points on their licence if their parents have done either of the aforementioned. Also young drivers are seven times more likely to get behind the wheel after consuming alcohol if they have witnessed their parents doing the same compared to a young person who has never seen their parents drive after drinking.

Young drivers are also more likely to be aggressive motorists if their mother or father have a tendency to display angry traits when driving such as swearing at other road users, beeping their horn and flashing their lights excessively.

The research highlights just how much young drivers are being influenced, whether consciously or subconsciously, by the driving actions of their parents. Years of watching how their mums and dads behave behind the wheel rubs off on youngsters and they are more likely to pick up their bad habits from what they’ve seen.

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Little black box technology helping drivers beat car insurance increases

September 15, 2011 By Samantha Lewis Leave a Comment
black-box-telematics

The little black box is helping drivers beat the spiralling costs of car insurance, new statistics have revealed. On average car insurance premiums have risen by 30% over the course of the last year, however thanks to advances in telematics and a fall in the cost of these monitoring devices, more and more drivers are able to take advantage of this type of car insurance which leads to a significant reduction in the cost of an annual premium.

The black box is the same size as a smart phone and is installed in the car to analyse the driver’s style, skill, habits, and time of day they are driving in order to personalise the motorist’s premium.

Those who display careful and non risk taking driving styles will more likely than not, to benefit from a lower rate of cover. For that reason, insurers are offering the technology to first time and younger drivers in a bid to help reduce the often unaffordable high rate of cover for these motorists.

More and more insurers are now offering black box systems as the price of this type of technology has fallen. Those drivers who have taken out a policy using telematics to monitor their driving habits have noted a 22% reduction in the cost of their annual premium, which equates to as much as £800 in selected cases. So if your car insurance is due for renewal, it’s worth investigating whether this type of cover could be beneficial for you as the savings can be substantial.

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Spy-in-the-car box could bring an end to high insurance rates for young drivers

January 28, 2011 By Samantha Lewis Leave a Comment
Young-female-driver

Thanks to a new device known as the spy-in-the-box, sky high insurance premiums for responsible younger drivers could become a thing of the past.

Several years ago car insurance provider Aviva trialled the technology, but promptly dropped the scheme as the equipment was too costly. However over the course of the last few years, the devices have become more sophisticated and affordable and so a number of insurance companies are now looking into introducing the technology to help lower the cost of cover for younger drivers.

Drivers under the age of 25 have borne the brunt of the car insurance premium increases as recent figures found that in some circumstances, the cost of cover rose by 50% over the course of the last 6 months for young motorists.

The introduction of spy-in-the-car boxes could put an end to high premiums for careful young drivers. The device, which is the size of approximately two cigarette cartons, is installed in the engine and monitors the driver’s ability.

The device measures average driver speeds, the times of day or night they tend to travel, and their braking and acceleration habits in order to create a picture of what kind of driver they are.

It’s been reported that six UK car insurance companies are currently looking into the possibility of offering spy-in-the-car box car insurance policies.

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Points on your licence push up the cost of car insurance significantly

November 22, 2010 By Dawn Bickford Leave a Comment
speed-camera-sign

Getting points on your licence as a result of speeding or jumping red lights will push up the cost of your car insurance significantly, according to recent statistics.

Being caught driving over the speed limit or performing a hazardous road manoeuvre is not only dangerous to other road users, but the implications mean you will be categorised as a risky driver by insurance companies, and hence your car insurance premium will go up.

This is bad news for any driver, but for younger drivers who are already facing hefty car insurance rates, the addition of points to their licence could mean they are priced out of the market and unable to afford insurance.

The advice being given to drivers by car insurance experts is to consider the implications of putting their foot down while behind the wheel as being caught driving over the speed limit does have costly repercussions.

Recent statistics have shown that car insurance premiums rose by 27% on average after a driver had points added to their licence as a result of speeding or another dangerous driving manoeuvre.

The number of people using price comparison websites to track down cheaper car insurance jumped by a massive 53% says confused.com, following the broadcast of a TV Watchdog programme on car insurance.

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Young drivers have chance to reduce their car insurance rates with new driving course

November 16, 2010 By Paul Roberts Leave a Comment
Young-female-driver

The new Drive iQ PRO driving course offers young drivers the opportunity to hone their skills behind the wheel, while at the same time, reducing their car insurance premiums.

Insurance premiums for young drivers are notoriously high with young male drivers being hit hardest by expensive rates of insurance. A figure released recently indicated that car insurance prices have risen by almost 50% in the last year for drivers in the youngest age bracket.

One way to beat the hike in car insurance rates is to enrol on an advanced driving course such as Drive iQ PRO. The scheme offers a course spread over five learning units with post-test modules, online tuition, and in-car tuition.

The cost to enrol is £150 and the course is available nationwide through the AA and independent driving instructors.

Young drivers who sign up will be provided with an exclusive insurance quote which can be held for 6 months for the duration of the course. The insurance company which supports the scheme also offers an exclusive provisional car insurance package for those who sign up to the course so they can practice driving in their own cars.

For more information on the new driving scheme and how you can benefit from reduced car insurance rates by enrolling on the scheme, please visit the official Drive IQ PRO website.

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