The average cost of home insurance has increased by 6% since the start of last year, according to moneysupermarket.com, taking the typical premium for buildings and contents cover up from £142 to £151.
Compared with premium inflation for car insurance (up 31% on 2010 levels) the rise seems minimal, however, insurers need to recoup the cost of last year’s freezing winter weather and with severe weather occurrences in the UK becoming a trend, the cost of insuring homes could be steadily on the increase.
According to the price comparison website, another factor hitting policyholders hard is the rise in fraudulent claims, which add around £44 to every premium, data from Legal & General suggests.
Moneysupermarket’s head of home insurance, Julie Owens, comments: “Things look set to get worse with the increase in prices unlikely to slow down in the coming years.”
According to Ms Owens, double digit percentage increases are on the cards.
he recent survey reveals that most of the UK motorists compare car insurance quotes to get reasonable insurance deal but act dishonestly when damaging other’s car. If the damages are not much obvious then most of the motorists will like to run away.
One out of five motorists will not like to give details if he damages the parked car. The car owners decide to give their details depending on the car type they hit. The hot hatch car owners need to worry, as the people do not like to leave their details if they hit cars like Golf GTi.
The older motorists were found to be honest during the survey while women were also slightly more honest than their male counterparts. P
All investors should have a system they use to approach investing. The ultimate goal of this system is to help the investor effectively make consistent investing decisions without being tossed to and fro by market conditions.
People who suffer the greatest investing losses are those who are constantly getting in and out of ‘hot’ stocks and those who buy and sell according to the dips and spikes of the market. Not only is this approach less-than-profitable, it is also stressful and time consuming.
An alternative option is to accept a systematic approach to investing. One such approach is called dollar cost averaging (DCA). DCA
Thank you to everyone who entered the Anniversary Giveaway. It will take some time to get things organized and draw winners, I am planning on getting this done over the weekend and announce winners on Sunday March 20th. The instructions were simple, if you have left more then 1 comment we will only count ONE comment for the entry. All Facebook Fans, (Active) Twitter Followers and confirmed Email subscribers will be entered into a spreadsheet and winners will be randomly selected through random.org.
Are you good at keeping in touch with family back home while you’re studying abroad? A survey by UK insurance company Endsleigh found families now contact each other primarily by text – 60 percent of young people reported using texts to update their parents on their lives. Second most popular was email (36 percent).
If text seems a little too brief, social networking sites can fill the gap. However, 72 percent of people aged between 18 and 25 reported not being friends with their parents on facebook – a good way of keeping party photos and incriminating messages away from the prying eyes of mom and dad.
You need your privacy but parents do worry – ease their fears by phoning regularly or keeping them up-to-date by text and email. Make su
Aviva has reported a 30% year-on-year rise in claims resulting from residential cannabis farming and is warning landlords to be extra vigilant.
According to the insurer, there were 758,700 cannabis plants seized by the police in 2009/10, a rise of 18% on a year earlier.
Eighty-three per cent of seizures were for 50 plants or fewer and Aviva settled 92 cannabis-farming claims, the highest number since the group began collecting data in 2007.
The insurer’s underwriting manager, property owners, Matthew Gordon, comments: “Almost all of the properties were residential and we often find that it is part of a larger operation or that the policyholder has had a couple of properties affected.”
He adds: “Cannabis farming comes with serious risks for landlords; properties can be completely ruined inside to make space for plants, water damage can occur and fire poses a risk due to interference with electrics or strong lighting left on for a long time.”
The cannabis farming tenant will often line walls, ceilings and doors with plastic or polythene, and windows will normally have blinds or curtains closed to obscure any activity.
In the car insurance supermarket, the British drivers are found not to take any kind of environment favouring changes in their car or driving habit until it helps them to save financially. The British drivers are not found to be as environment friendly as their European counterparts.
According to a research, the British drivers drive more frequently than European motorists but still European drivers are greener than British one. The attitude of British drivers towards environment friendly behaviour is not as advanced as seen in their European counterparts.
One of the best things you can do for your financial future is to save your money. You know that it is important to not only look for savings on a variety of items, but that it is also important to put money aside, saving it for future use. Here are some great posts from around the PF blogsphere on saving money:
How Much Should I Save Per Year?
Mike at Oblivious Investor offers some helpful advice on how you can save up money each year for retirement later.
Is a million dollars enough to retire happy?
Jim at Retire Happy Blog takes a look at the $1 million mark.
Back in 2009, Wallet Blog broke the story that Chase had reneged on a promise it made to certain customers not to increase the interest rates on balances transferred to the company’s credit cards. While Chase did not increase interest rates per se, the company did begin assessing $10 monthly fees that increased the cost of consumer debt nonetheless. Working together with the New York Times, Wallet Blog made the story national news, causing then-New York Attorney General Andrew Cuomo to threaten legal intervention against the financial giant. As a result, Chase repealed the monthly fees and even provided refunds to the customers it had already charged.
Such actions were taken because, from a regulatory standpoint, there is no practical difference between interest rates and fees. Bot