Motoring by Press Association 17/04/2018, 12:10 pm FacebookTwitterWhatsAppEmail Send us a story Sign up to our Daily newsletter The price of car insurance in the UK has fallen for the first time since 2014, it was announced. Figures gathered by insurance comparison website Confused.com show that the average price of a policy has fallen by 2 per cent – giving customers an average saving of £13. A review of the Ogden rate, the system by which personal injury compensation is decided, appears to have reduced insurance rates, while reform to whiplash claims will also have had an impact. The legislation aims to take low-payout whiplash cases out of the courts and into a separate arbitration system – aiming to cut down on the number of fraudulent cases. Whiplash cases cost the insurance industry up to £2 billion per year. Confused.com notes that despite the recent price drop, insurance is still far pricier than it has been in the past. Back in … [Read more...] about Car insurance prices fall for the first time in three years
Lower car insurance rates
Car owners with poor credit can pay hundreds — if not thousands — more to drive than those with good credit. This plays out in two important ways: higher rates on car loans and, in most states, higher insurance premiums. In fact, having bad credit can raise your insurance quote even higher than if you’d had an accident. To see how much poor credit can cost car owners, personal finance website NerdWallet looked at auto loan terms and insurance quotes for drivers in different credit tiers. 1. CREDIT AND CAR LOANS Drivers with blemished credit often choose a cheaper car than they could otherwise afford. However, they’ll still pay more to own it — especially if they finance the purchase. Good credit is generally considered 690 to 719, while bad credit is below 630. In a slightly different system, prime credit is 661 to 780 and subprime credit is 501 to 600. For used car loans in the last quarter of 2017, prime credit buyers received an average rate of 5.48 … [Read more...] about What makes your car costs so high? Here are 5 reasons.
Car owners with poor credit can pay hundreds — if not thousands — more to drive than those with good credit. This plays out in two important ways: higher rates on car loans and, in most states, higher insurance premiums. In fact, having bad credit can raise your insurance quote even higher than if you'd had an accident. To see how much poor credit can cost car owners, personal finance website NerdWallet looked at auto loan terms and insurance quotes for drivers in different credit tiers. CREDIT AND CAR LOANS Drivers with blemished credit often choose a cheaper car than they could otherwise afford. However, they'll still pay more to own it — especially if they finance the purchase. Good credit is generally considered 690 to 719, while bad credit is below 630. In a slightly different system, prime credit is 661 to 780 and subprime credit is 501 to 600. For used car loans in the last quarter of 2017, prime credit buyers received an average rate of 5.48 percent, according … [Read more...] about Good driver, poor credit: What makes your car costs so high
Exactly what defines a muscle car becomes hazy when such icons as the Ford Mustang and Chevrolet Camaro - cars that are actually ‘Pony cars’ – are inevitably thrown into the equation. The true definition of a muscle car can be summarised as a two-door, intermediate-sized performance coupé, powered by a stout V8 engine and sold at an affordable price. Primarily designed for straight-line speed with little regard for chassis finesse, they are steroid-injected specials capable of easily asserting their dominance over the weaker six cylinder and regular V8-engined models. Muscle cars really began to strike a chord with the impressionable youth of their time. In the mid to late 1960s, image and masculinity were everything. Pumping iron on US beaches was all the rage and no guy wanted sand kicked in their face in front of pretty ladies – they wanted to be the ones dishing out the sand-kicking to scrawnier opposition. Testosterone was going through the roof and … [Read more...] about History of the muscle car – picture special
UK drivers are paying more than ever before for their car insurance as a result of the rising cost of repairs, tax and personal injury claims. The average price for comprehensive insurance in the fourth quarter of 2016 was £462, which is 4.9% higher (and £22 more expensive per policy) than the same period in 2015, according to the Association of British Insurers (ABI). Why modern cars are getting more expensive to fix Repair costs are a big factor in the rise of insurance premiums. The average repair bill has increased to £1678 over the past three years, a rise of almost 32%. Electronics, safety aids and fuel-saving systems fitted to modern cars can all prove complex and expensive to repair, with specialist tools and knowledge often required. Insurance premium tax has been rising since the July 2015 Budget. The latest increase in June this year will double it, from 6% to 12%, which also affects the cost of insurance for drivers. In addition, personal injury claims … [Read more...] about Cost of car insurance hits all-time high in UK
It seems like a lot of bad news comes out about Detroit, MI. With the city's massive financial woes now a given, a newly released study commissioned by Insurancequotes.com is bound to add to the negativity. The study finds that people living in the metropolitan area around the Motor City are paying the highest car insurance premiums by a huge amount, compared to the 25 largest cities in the US.The study based its findings on the estimated rate for a driver with a bachelor's degree that traveled 15,000 miles a year and had "no breaks in coverage, a $500 collision and comprehensive deductible, state minimum liability coverage and full PIP coverage." For people who resided in the Detroit metropolitan area, which includes Warren and Ann Arbor, MI, they would pay 165 percent more in premiums than average. That was far and away the highest in the survey. Areas considered traditionally hard on cars like New York City and Los Angeles were 36 percent and 25 percent above average, respectively. … [Read more...] about Detroit found to have most expensive car insurance, Charlotte least
calculation for car insurance premiums can seem like an arcane-at-best art that combines a multiple factors to arrive at a number that almost always seems at least a little too high. In addition to the actual vehicle, factors like age, gender and marital status are known to play a role in the final bill. A newly released study is actually challenging some of the beliefs about rates, though.An analysis from InsuranceQuotes.com finds that walking down the aisle can mean big savings on auto insurance – at least during your 20s. For example, a married 20-year-old would pay an average of 21-percent less than the same person who is single. Unfortunately, the lower bill doesn't last long, and by age 25, the discrepancy falls to just seven percent. It shrinks to only two percent for those over 30 years old.InsuranceQuotes.com senior analyst Laura Adams spoke to Autoblog and said insurance companies are basing the premiums on the actual claims they get from people in these demographics. … [Read more...] about Young married people get cheaper car insurance
Top Gear.Nowadays, auto manufacturers seem to be tripping over each other pointing out that they offer Apple CarPlay and Google Android Auto. And more recent phenomenon are announcements—from companies including Ford and Hyundai—that they are offering Amazon Alexa capabilities. You talk. It listens.In late January, General Motors said it is releasing a next-generation infotainment software development kit (NGI SDK) to software developers to write apps for GM cars. The NGI SDK includes native Application Program Interfaces (APIs) that allow access to expected things - like oil life and tire pressure and whether lightbulbs are burned out - but unexpected things, as well. Like the presence of passengers in the vehicle.In making the announcement of the NGI SDK, GM pointed out that it has the largest connected fleet on the road, some 12-million vehicles. The company also noted: "From 2015 to 2016, GM has seen data usage by customers increase nearly 200 percent. Mobile app use … [Read more...] about If your TV rats you out, what about your car?
As much as I enjoy vigorous debate, I abhor pseudo-science. From The Bermuda Triangle to past life regression, I just can’t deal. If the subject matter in question is faith-based like, say, a talking salamander's role in the development of Mormonism, I’m good. But the moment an aspiring conversationalist tries to deploy scientific explanations for a fundamentally irrational belief system– aliens sucking up Air Force planes from the Gulf Of Mexico for anal experimentation or Joan of Arc reborn as a 42-year-old housewife in Hackensack, New Jersey– I’m out. So when I read that insurance quote provider Lee Romanov says your star sign affects your chances of having an automobile accident, I just had to ring her up. Yes, it's been that kind of day.You can hear my righteous indignation on the podcast below. Truth be told, I've got no truck with Ms. Romanov’s basic assertion that automobile insurance industry rates seem capricious (even if she seems … [Read more...] about Car Insurance Rates: Star Struck?
Automotive insurers use more than just your driving history to set your rates, the New York Times is reporting.Factors such as your credit score, address and marital status can increasingly affect premiums more than driving history, the story explains.A survey of the nation’s largest insurers — Geico, State Farm, Nationwide, Liberty Mutual and Farmers — found that a hypothetical woman in her 30s paid more if she was widowed, instead of married, at four of the five firms. The premium increases ranged from 3 percent to 29 percent. Only State Farm charged the woman the same, regardless of marital status.Many insurers use credit reporting bureaus to adjust rates for drivers looking for coverage.A 2003 study by the University of Texas found that drivers with lower credit scores filed more claims and were a greater risk to car insurance companies, although several states including California, Massachusetts, Hawaii and Colorado outlaw the practice of adjusting rates or … [Read more...] about Want Cheaper Car Insurance? Pay Your Electric Bill on Time