The average cost of insuring a car for young drivers has soared to a record high of £3,688, according to figures from moneysupermarket.com – but there are things you can do to keep insurance bills down. Newly qualified drivers face the steepest annual premiums at around an eye-watering £5,957.
Drivers aged between 17 and 22 could therefore face monthly payments of as much as £546 when opting to pay by instalments, which typically adds an extra 10% onto premiums.
With more than 448,000 young drivers passing their UK driving test each year, many have therefore been forced to give up their dreams of independence altogether – even after saving up for a car.
As one 18-year-old moneysupermarket.com user said on our forum: “I am trying to insure a 1998 1.25 Ford fiesta Vetec after passing my driving test last month.
“I have shopped around and tried adding my mum and dad to my insurance, but it is still £5,000 just for third party cover. It’
In March 2011, a Marist Poll revealed that two-thirds of Americans believe that drivers should be retested for their license once they reach the age of 65, even if they have a good driving history. Many experts believe that driving capabilities can diminish when drivers get older from failing eyesight as well as other physical issues and mental restrictions.
But is it a good idea to have seniors to retake their drivers license test once they reach a certain age? Have states looked into this requirement for drivers? Could taking a step like this affect auto insurance rates?
The Marist Poll found that a high number of drivers want seniors to be retested for their licenses when they reach the age of 65.
Travel disruption caused by Icelandic volcanic ash has reaffirmed the need for travel insurance – but older travellers face a battle to find competitively priced cover. New figures from consumer champion Which? reveal that a quarter of travel insurance providers refuse to even consider offering cover to new customers who are 65 or over.
For travellers in their 80s the problem is even more severe, with some nine in 10 insurers rejecting applications from people in this age group as a matter of course. And even among those firms that do continue to cover people when they turn 65, premiums can triple overnight.
An annual worldwide travel insurance policy with Essential Travel, for example, costs £58.72 a year for people who are under 65, but soars to £205.51 for consumers over this age, Which? r
If you own a motorbike it is imperative that you get an insurance coverage for the same if you have not yet done it. Even though you may feel that motorbikes are the most convenient vehicles to zip your way through heavy traffic in no time, they are no doubt one of the most risky vehicles on the street as they are more accident prone than bigger vehicles like cars. So, owning motorbike insurance means that, you do not require spending any money from your pocket in case an accident occurs.
You can either settle for insurance that covers either the rider, bike or both. Read more…
It’s the #1 question consumers have about their personal finances: How much do I need to retire? If you ask 10 different financial advisors this question, you’ll receive 10 different answers, only because the answer depends on many different variables. Putting the variables aside however, we’ve outlined a simple, but effective strategy to help ensure you’ll have enough to retire.
How Much Do You Need Save to Retire?
Many financial advisors agree with the 4% rule when estimating how much you’ll need to save to successfully retire. The 4% rule stipulates that you can withdraw 4% from your retirement portfolio the first year of your retirement and adjust your withdrawals annually based on inflation. The first
It is advisable to refrain from buying unnecessary options if possible as to save money on car premiums. This may lead to duplicate protection from other sources as well. There a few eminent options that is available in the market. If you have already been insured from life, health and property wise, there is not much reason to invest in similar ones. For example, if you already own a life insurance policy, is an additional life insurance from the car insurance policy a necessity in this case.
Rental Reimbursement
While your vehicle is sent for repair after an accident, the insurer is then responsible to pay a sum of money per day for the days that you have rented a car for your convenience. Read more…
If you don’t want to deal having to remember to cancel your card, the regular non-Preferred is now offering 25,000 points worth $250 cash after you spend $3,000 in purchases within the first 3 months, and there is no annual fee in the first year or subsequent years. The non-preferred used to give out their bonus with no minimum purchase requirement, so personally I’d rather take the extra $250 via the Preferred.
Ideas for reaching the purchase limit without spending more money that you would otherwise include: prepaying any monthly bills like utilities and let the credit go down over time, pay your 6-month auto insurance or home insurance bills via lump sum, that don’t expire and then spend them gradually, from places you will shop at eventually through PlasticJungle or similar (Home Depot, Target, etc.), buying $1 coins from the US Mint (you’re basically buying cash), or buying grocery store gift cards (Safeway cards at Safeway). Basical
In this Internet age, it seems almost impossible that we should need to pick up “snail mail” when we are traveling abroad. But lost documents, credit cards and bank cards all need to be sent by mail. Make sure you have fully comprehensive international insurance before you travel. International travel insurance will help you cover the cost of a lost passport, or enable you to claim back money stolen in a robbery.
If you are travelling for a long period of time you may also want to receive your usual mail abroad. And those that miss the comforts of home can receive a package of familiar things when they’re traveling abroad. Where can you receive mail abroad when you don’t have a permanent address?
Read more…
The global road safety campaign will be celebrated across the world encouraging maximum participation of the car insurance customers. The Decade of Action for Road Safety 2011-20 campaign will be launched in a whole host of countries, including Ethiopia, Indonesia, Cambodia, Malaysia, England and Kuwait,.
During the campaign, the car insurance customers will project large yellow triangle on various national landmark monuments that include Times Square in New York City, Trafalgar Square in London and Christ the Redeemer in Rio de Janeiro.
The World Health Organization’s director-general shows worry for road traffic crashes that further affect the growing need of proper health and development among the car insurance owners. Th