Women drivers to suffer premium hikes following ban on car insurance gender discrimination
Insurers will no longer be allowed to discriminate against gender when setting drivers car insurance premiums. The proposal will come into effect from the 21st December 2012 with women drivers believed to be the most affected, with their premiums increasing at the highest rates.
Head of Motor Insurance at GoCompare, Scott Kelly, says:
"We expect to see premiums equalised at the higher male rate rather than the lower rate for females. If that is the case, women drivers will see their premiums rise by just over £300 on average, but for younger age groups the increase could be as much as read more »
Scooter Sales Soar
Scooter sales in the UK are on the rise again, despite other motorcycle sales falling. Scooter sales were up a huge 21.1% in June compared with the last year.
125cc scooters are proving to be a popular choice due to their economy, convenience and other benefits like exemption from London’s congestion charge and easy read more »
Motor Insurance For Unemployed Facing Hefty Hike
The unemployed could face a hike of up to 400% on their motor insurance premiums, new research suggests. The Money Mail survey also noted that some insurers- Allianz, Esure and Sheila’s Wheels- won’t provide cover for unemployed drivers.
The reasoning includes several factors like insurers believing that those out of work; will not maintain their vehicle as often, they’ll struggle to make payments and are more likely to attempt a fraudulent claim.
Malcolm Tarling, spokesman for the Association of British Insurers, is keen to reassure people that the new scheme is not discrimination:
"Where a company charges a higher insurance read more »
Car Insurance Set To Rise Again As UK Overtakes USA
Drivers in the United Kingdom could be facing a hike in their premiums after claims for car crash-related injuries broke records.
In the last year, UK claim rates have overtaken those of America, as injuries and whiplash claims soared by 18% from 2010 to 2011- the biggest annual increased in history.
Whilst the volume of car accident damage claims fell by 5%, insurance payouts increased by 9%, a report by the Institute And Faculty Of Actuaries states.
David Brown, Chairman of the institute said: “The increase in costs to insurers is likely to result in a rise in motor insurance premiums for read more »
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