News archive
MPs consider insurance cost cap for young drivers
A parliamentary debate is taking place to decide whether car insurance costs for drivers between the ages of 18 and 25 should be capped at £1,200 a year. The debate comes after an online petition that was signed by 185,000 people. As per...
Homeowners undervalue contents insurance by GBP 100bn
Research indicates that homeowners are quite significantly underestimating the value of contents in their homes, despite one in three believing their contents are at risk, according to Admiral Home Insurance. Admiral surveyed 1,000 people and...
Insurance prices expected to rise following government ruling
Industry experts claim that car insurance premiums are set to rise by £75 a year, following a recent government ruling. The Ministry of Justice have announced a new formula for that will be used to calculate compensation for people who suffer...
Renewing car insurance automatically sees motorists waste £1.5bn
Comparison website Gocompare.com has warned motorists over renewing their car insurance automatically, claiming that it leads to a staggering £1.5bn being wasted each year. This claim comes following Gocompare.com's Car Insurance Auto-Renewal...
British woman arrested for GBP 140K life insurance fraud in Zanzibar
A British woman and her teenage son have been arrested after allegedly faking her death during a holiday, seeing the family claim a life insurance payout of £140,000. The unnamed pair hail from Walsall, West Midlands, and had been on a luxury...
Car insurance premiums more expensive than ever says ABI
The average comprehensive car insurance policy was £462 in the final three months of 2016, as premiums rose to their highest level since records began according to the Association of British Insurers (ABI). The previous record was in the...
Concerns over value of insurance extras after data shows lack of claims
Many insurance policy add-ons are actually poor value, with very few claims made, according to figures from the Financial Conduct Authority (FCA). Add-on insurance is when an insurer sells a policy alongside another product, but campaigners are...
The Co-op ordered to give clearer insurance quotes
The Competition and Markets Authority (CMA) has ordered the Co-op to give clearer insurance quotations. The CMA had previously ordered all insurance companies to clearly represent the extra charges that go along with the insurance quotes, including...