Gender specific companies will see fewer changes with new law
Posted on January 1st, 2012
Insurance companies with a higher ratio of women than men will have the smallest price change when European Court of Justice equality laws are implemented next year.
News Insurances found that if a company insurers more women than men, the statistics and information they would use to underwrite insurance would more reflect a woman than a man, leaving prices largely unchanged.
“A company that is more equally split will have a greater flow of premium going from women to men and therefor their prices will have to change more,” said Adrian Webb, Head of Communication at Sheilas Wheels.
“With female marketed insurers the ratio is so skewed in the favor of women, that the claims of the men that are with us will not end up having to be subsidised quite as much”
Currently, a company with an equal spread of men and women charge lower premium for women and higher for men based on current claims statistics.
When the laws are implemented it will become illegal to differentiate prices based on gender, so these companies will begin charging men roughly 10% less for car insurance and women around 25% more.
Webb said this ratio would be different for gender marketed companies.
“A large company at the moment that has an equal split of men and women will be charging lower premiums for the women and higher premiums for the men. If those
Tags: Law
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Sales Increase for Bentley
Posted on December 15th, 2011
Bentley have seen UK sales increase by over 20% last month according to the latest statistics that have been released by the Society of Motor Manufacturers and Traders (SMMT). According to the stats, the Crewe-based firm have sold 65 cars in the UK in November, this is 20.4% more than the same period in 2010.
Sales Figures
So far this year, Bentley has sold a total of 986 cars in the UK. This is up by 4.5% during the same period last year. This is encouraging news for the automotive sector and those more exotic, luxury car makers. The number of luxury car owners looking for car insurance cover has, therefore, increased this year.
The economic recession has hit us all hard and big businesses have been suffering too.
Tags: Bentley, Sales Increase
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Calculating the Present Value of a Whole Life Insurance Policy
Posted on December 14th, 2011
One of the things people often want to find out when they have a whole life cover policy is how much it is worth in cash at that time. This can be easy to calculate as long as you know the cash surrender value. This is the amount of money you will get, if you decided to cancel your policy now.
To work out the present value:
Look at your most recent statement for the policy. Record the amount of your cash value account as this is the value that has been accumulated since you have purchased the whole life insurance policy.
Subtract any outstanding loan values from the total amount. These values are expected to be paid back into the policy so they will be deducted from your final cashing out value.
Remove the cash value of any surrender charges from the final amount. Read more…
Tags: Policy, Whole Life
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UK drivers Europe’s “bad Samaritans”
Posted on December 14th, 2011
UK drivers are the least likely among European neighbours to help fellow motorists in distress, an AXA survey has found.
The French insurer has labeled Britain a nation of bad Samaritans because just 6% of Brits questioned said they would always stop and ask a motorist who has broken down if they need help.
Tags: Drivers, Uk Drivers
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Matching touring caravan insurance to your reality
Posted on December 11th, 2011
If you are searching for touring caravan insurance, it may pay to think carefully about the cover provided by the policy and how that matches your own reality as a caravan user.
Contrary to what you may believe, not all touring caravan insurance is more or less the same.
No short article of this nature can give a full overview of points to look for, however, there are a few things worth noting in general terms.
Mileage allowances
Policies may differ significantly in terms of their allocation of what they consider to be a standard annual mileage.
If your real usage is likely to be higher, then you may have to pay an increase in premium.
Tags: Caravan Insurance, Reality, Touring Caravan, Touring Caravan Insurance
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How to Ensure Max Auto Insurance Savings: Ask!
Posted on December 6th, 2011
Here’s one important thing to bear in mind when you go to get car insurance quotes that you might not have already thought of—there’s always room to bargain. Sort of, anyway. No, you’ll never be able to talk your way out of high rates if you have a bad driving record or can’t seem to stop hitting other cars to save your life. But there are some discounts you might be able to take advantage of that you won’t know of without asking.
• Multiple driver discounts. You can get a car insurance quote online, but if you’re not aware that having more than one person on a policy can save you money, you’ll be missing out on some potentially big time savings.
• Good driver discounts. Don’t automatically