There’s a new motor insurer in town and its unique selling point is that it charges its customers only by the number of miles they clock-up and the way they drive.

The new motor insurer is called insurethebox and it’s being launched via the web comparison site moneysupermarket.com.

And the new motor insurer insurethebox is targeting young, recently qualified drivers because it believes that the way it’s structured will incentivise good drivers.

What’s more, the new motor insurer believes it offers the cheapest premiums to around a fifth of the motorists in its targeted sectors. This equates to savings of around £200 a year for many young drivers. These figures were calculated after the team at insurethebox analysed tens of thousands of quotes on the web comparison site moneysupermarket.com.

The heart of the new motor insurer’s package is its technology which effectively acts as a ‘spy-in-the-car.’ Known as a ‘Clearbox’, it is a small device which is fitted by insurethebox at the company’s cost at a location of the motorist’s choice. The Clearbox monitors the location of the car and how it’s being driven on a real-time basis. This information is shared by insurethebox with the driver via the company’s website. They can then see how well they are driving when compared to their peer group.

The new motor insurer concept is built around a driver paying for a fixed number of miles. This is typically 6,000 miles and once this ceiling is reached, they can buy additional miles by credit card, or via their bank accounts. They are reminded that they have reached their allocation of miles by email messages.

Although if the driver is handling his, or her car, correctly, and is judged to be driving well, then a bonus of up to 100 free miles will be awarded.

Head of Car Insurance at moneysupermarket.com, Steve Sweeney, said: “The benefits of insurethebox are clear and I believe this insurer could really help keep motoring costs down and successfully promote safer driving.

“insurethebox is one of the most innovative car insurance propositions we have seen for a long time. The industry has been crying out for a new concept that really works and while ‘ClearBox’ technology certainly isn’t new, insurethebox is more sophisticated in its design, making it a more sustainable scheme.

“It caters for low-mileage drivers by only charging them for the miles they drive, which is a great way to keep costs down. Similarly, it will suit younger drivers who struggle to find competitive insurance quotes. For parents, who often pay for their children’s car insurance, insurethebox will also relieve their concerns as they will be able to keep an eye on where their children are driving and how safely too.”

The ClearBox has another key role as well, one which will be fully utilised by the new motor insurer. The box alerts the service centre when the vehicle has experienced a g-force greater than 2.5. As soon as they get the alert, the service centre contacts the driver and helps organise help if needed, including the call-out of emergency services.

Guest Article by Neil Camp

Nearly half of all parents are illegally fronting car insurance policies for their children, even though they know it to be illegal.

Figures from The Co-Operative Insurance show that 41% of parents are illegally fronting car insurance on a regular basis.

Fronting car insurance is when a driver within a higher risk category – most often a younger driver – is added to a car insurance policy as an added driver, even though they might own the vehicle, or in fact be the main driver.

And as regards fronting car insurance, The Co-Operative Insurance goes onto reveal that 61% of parents who are currently ‘fronting’, would happily do so again in the future.

What’s more, 57% parents know that fronting car insurance is illegal.

But when parents know that fronting car insurance can save them nearly £200 in premiums, the incentive is there to continue.

And the research also found out that 33% of parents know roughly two others who are fronting car insurance policies, or have done so in the past.

The conclusion of the research questions whether parents taking such actions really understand the consequences of fronting car insurance policies. Should they be discovered, the claim might be refused, the policy cancelled, or even a prosecution for fraud might be brought by the insurance company.

Chief Operating Officer at The Co-operative Financial Services, Tim Franklin, said:
“The view that motor insurance fronting is harmless and doesn’t hurt anyone could not be further from the truth. Parents who believe they are helping their children to save money by fronting are not only risking prosecution, but harming their chances of obtaining insurance in the future.

“We recognise that the current economic situation may be acting as a catalyst for motor insurance fronting and we are continuing our work to ensure younger drivers have access to competitive and fairly priced motor insurance. Through our partnership with the Road Safety Charity, Brake, we continue to educate young drivers about the importance of responsible driving through our interactive 2Young2Die website and resource materials.

“There are equally a number of things which young drivers can do to help reduce their premiums such as researching the insurance banding of vehicles before buying and ensuring that immobilisers and alarms are fitted. The quicker younger drivers start earning no claims discount by being the main driver, the more affordable this makes insurance for them in the long-run.”

The message is clear, think before you consider fronting car insurance policies.

Guest Article by Neil Camp

Are you looking for Harley or Ducati bike insurance? Perhaps you own a Piaggio scooter and need to find the best and cheapest bike insurance possible. Whichever motorbike you own the below top bike insurance tips will hopefully help you find the best deal and reduce your premiums.

Cheapest Bike Insurance Cover

1. Many bike insurance providers offer optional extras such as legal expenses, breakdown cover and a courtesy car, which is useful if you have a crash. You could opt out of purchasing these optional extras to keep your premiums down. But you should first carefully consider the consequences before making your decision.

2. It’s common knowledge that adding performance enhancing modifications to a bike can dramatically increase the cost of bike insurance, especially if you own an already powerful bike like a Ducati 1198 or a Yamaha YZF R1. However, it is also important to know that any modifications even if they are cosmetic can considerably increase the cost of cover. If your bike does have any modifications always inform your insurance provider. This will ensure your bike is fully covered and reduce the risk that any claims will be made invalid due to non-disclosure.

3. Many people every year are literally throwing money away, why? Because they don’t bother to compare bike insurance quotes to get the best deal. Even though your insurance provider may have reduced your premiums this does not mean you are getting the best deal on the market. When your policy is up for renewal have a look around and get a few quotes. It doesn’t matter whether you are looking for Ducati bike insurance for an 1198 or cover for a second hand scooter, you can still save money.

4. When you first start riding it can be tempting to buy the most expensive and powerful bike you can afford. But in the beginning you can save lots of money if you purchase a older less powerful bike. Once you have a couple of year riding experience and no claims under your belt you can buy a more expensive machine.

5. If you do buy a cheaper bike which isn’t worth that much you could consider buying third party only bike insurance. Fully comprehensive insurance is often more expensive, so you could save by going for third party fire and theft. However this does mean reducing your cover.

6. Most bike insurers allow you to ride in the EU for up to 90 days every year. If you do intend on riding abroad you should discuss what precautions you can take in terms of security to keep your premiums low.

7. Ducati bike insurance is expensive and this is the case for many desirable makes and models. There are many approved alarms and immobilisers which can help reduce the cost of bike insurance. Thatcham is one alarm make which can help you to save 10%. It can be well worth the extra investment over the long term.

8. In some cases you can save a considerable amount on bike insurance if you ride less than 3,000 miles a year, particularly if it is only for social reasons. Before taking out bike insurance carefully consider how much you will use your bike, you could save quite a lot of cash.

9. If you have a garage or back garden make sure you inform your provider of where you intend on keeping it. Insurance providers base the amount you pay for your bike insurance on risk assessment the less risky you appear to be the less you pay. So any precautions you can take could help.

10. Depending on what type of bike you own whether it is a classic Harley Davidson motorbike or a brand new Ducati superbike using a specialist bike insurance provider can help you save. To compare UK bike insurance quotes from all the top providers use Buyability’s insurance comparison tool.

Guest Article by Carlan Li

A new study from Aviva Insurance has discovered that some 57% of general practitioner doctors are claiming that they have less time to see their patients than five years ago.

Worryingly, the Aviva Insurance study revealed that 50% of GPs said that this lack of time affected their ability to do their job and what’s worse, that 43% actually believed it affected their ability to diagnose.

Practising GP and chief medical officer at Aviva Insurance, Dr Hugh Laing, said:
“At Aviva we are committed to improving the health and wellbeing of our customers and we recognise the important role that GPs have in delivering this. To enable us to do this it is vital that we understand the concerns which affect both consumers and the healthcare industry in general.

“Our research shows that GPs are over stretched and this can affect the quality of support they are able to offer their patients. Web based technology has revolutionised the way we all work and fast access to high quality information can be an invaluable support for patients and professionals, but ultimately there is no substitute for a thorough assessment by a qualified GP, and from our research this is clearly not happening in many cases. As such we urge the new coalition Government to support and work with GPs to ensure delivery of the right care for patients.

“Aviva Insurance believes that people should have the peace of mind that they can talk to a GP for as long as they need at any time of the day or night.”

The Aviva Insurance study went into some detail regarding the time GPs spend with their patients, saying that most are likely to spend up to 20 minutes with each patient, whereas in reality, only ten minutes is possible. And the GPs’ patients seem to be agreeing, with another Aviva Insurance research report discovering that nearly 65% of people thought that NHS appointments were always rushed and that feeling is spreading to the doctor’s surgeries.

Another interesting fact that the Aviva Insurance study brought to the surface was the fact that of the doctors questioned, the vast majority (around 96%) use the internet on a daily basis when working and that online resources were a valuable diagnostic tool.
 
Lets hope that the Aviva Insurance report doesn’t reveal at a later date that internet usage is not about diagnosis, but checking that day’s horse racing form.

Guest Article by Neil Camp

Specialist car insurance company Admiral has discovered that each year, the total number of miles driven by UK motorists would take them to the moon and back, not once, but over half a million times.

Admiral, which is one of the largest specialist car insurance companies operating today, examined the average mileage driven by some two million drivers. The figure came to 7,755 miles. Admiral took the figure, then multiplied it by the number of full car driving licence holders in the country, some 34.5 million. The total was then divided by the official estimate of the distance to the moon, a total of 238,857 miles.

The specialist car insurance company Admiral points out that since 2000, and despite efforts by environmental groups to reduce the number of miles driven by people around the world, not just the UK, the average mileage has increased by 4.5%.

Managing Director of the specialist car insurance company Admiral, Sue Longhorn, said:
“When you see the total mileage we drive it’s staggering, especially when you consider there are only around 246,000 miles of road in the country. It’s no wonder our roads seem so congested!

“Most motorists don’t realise just how far they drive each year as you don’t tend to stop and think about it. Indeed many motorists underestimate their mileage. However, with the price of petrol at an all time high, I’m sure the cost of all these miles would certainly make them stop and think.”

There’s a serious side to the research conducted by the specialist car insurance company Admiral of course; it says that average mileage is one of the biggest guides for car insurance companies when it comes to leveling premiums. Statistics prove that those with too high an average mileage have a higher risk of being involved in an accident. Yet those with too low an average also have a higher risk of being involved in an accident, because it can mean they lack the experience to cope with modern driving conditions.

So take notice of the specialist car insurance company Admiral: if you’re driving to the moon and back, it’s more than likely you’ll have the odd bump, or two.

Guest Article by Neil Camp

Giant insurer Aviva will be offering a new optional volcanic ash insurance travel policy add-on from the 1 June, 2010.

Volcanic ash insurance is likely to be a big thing from the industry over the coming years as the travel companies, as well as its customers, face potential chaos as the Icelandic volcanoes do their best to ruin everyone’s travel plans.

The new optional volcanic ash insurance travel policy add-on has been created, say Aviva, to offers its customers a new form of cover should their travel plans be disrupted by a closure of UK’s airspace, airports, or ports.

Those Aviva customers with either single trip, or annual policies, will be entitled to purchase the new volcanic ash insurance cover for a fixed cost of a fiver per insured person for single trips and a tenner per insured person for those with annual insurance.

The new volcanic ash insurance deal is open to both existing customers and those buying from Aviva for the first time. But, it can only be purchased as part of the existing Aviva policy; it is not a stand-alone product.

Aviva travel manager Jerry Finch said:
“The key benefit normally associated with a standard travel policy has historically been medical emergency cover and this still remains the top reason for any claim.

“However, we appreciate the need to provide protection for additional risks that have not been previously covered by insurance. So we have broadened our insurance cover beyond the impact of volcanic ash on flights to include any reason for airspace, port or airport closure. This would include examples such as: terrorism, prevention of terrorism or even a pandemic situation, such as bird flu.

“This should help customers feel more confident of their position as they look either to go on holiday soon or plan to book one later in the year. By introducing the new option we are providing our customers with the freedom to choose the amount of cover they feel would be right for them.”

There are the normal get-out clauses and caveats of course, so it’s best to read the Aviva fine print in detail if you want to get the best from the new volcanic ash insurance.

Guest Article by Neil Camp

If you want to buy a life term insurance policy and need a quote or would like to know a little more about it the below guide will provide some helpful information.

What is a life term insurance policy?

A life term insurance policy is a death benefit which means it only pays out in the event that you die. Many people choose to buy a life term insurance policy to protect their families against financial hardship should the worst happen. In return for you paying a fixed rate of payments over a specific amount of time the insurer will pay out a tax free sum to the beneficiaries.

However one drawback of buying a life term insurance policy is that once the term has expired the policy will no longer payout and a new policy must be taken out. Life term insurance is very popular because it is one of the cheapest ways to obtain a death benefit.

Why buy life term insurance?

• If you have a mortgage to pay and a family to support the benefits of buying life insurance are obvious
• Many people buy a life term insurance policy because they are purchasing a house, most mortgage lenders demand a life insurance policy is taken out at the time of buying a property in case one of the borrowers dies. In this case buying life term insurance is usually the cheapest way to obtain life cover for this situation
• After some years the amount you owe on your mortgage may have reduced in which case your life insurance requirements may have to be re-evaluated
• In other cases you may need to re-mortgage, which may mean you need to take out additional cover to protect your family and home
• If your life term insurance policy is about to expire it might be a perfect opportunity to compare policies and find a better deal. The market is very competitive and it is sometimes possible to save lots of money

Guide to buying life term insurance policies

Buying a life term insurance policy can be a very serious and long term commitment, so finding the best deal not only in terms of price but cover is very important. Below are several tips which should help you find cover.

When you want to buy life term insurance follow these steps:
• The cheapest policy is not always the best. Look out for low initial premiums which increase after a set period
• Life term insurance is only valid for a set period. When you are looking for a policy try and find one which allows you to extend the term
• It is a very competitive market with lots of insurers competing for your business use this to your advantage and compare the market, you can start right here by using our comparison tool to buy life term insurance cover.
• Some policies offer very high payouts if you die in a certain way which may sound very attractive however some of these policies are riddled with catches so be vigilant

Buying a life term insurance policy can protect your family from financial loss should you pass away. It’s an important decision so make sure you compare a wide variety of policies from different providers.

Buy Life Term Insurance

If you are looking for Yamaha bike insurance you can use Buyability’s comparison tool to obtain a quote, it only takes a couple of minutes. This tool is ideal if you want to save time and money and compare a large proportion of the market in one hit. Below are a couple of Yamaha bike insurance quote examples.

Yamaha has been making motorbikes for over 50 years and has produced hundreds of makes and models. Buyability allows you to obtain and compare the best Yamaha bike insurance quotes quickly and easily online. Buyability’s quotes detail key insurance policy features such as excess, monthly repayments, total price and legal cover.

Below you will find two quotes for Yamaha bike insurance. Buyability used two distinct models for our quotes. The first of which is the Yamaha YZF – R6, this is a powerful 600cc motorbike and the second is a Yamaha Aerox Race Replica, which is mainly ridden by people who have just passed their test.

The first quote gathered for Yamaha bike insurance was for the YZF – R6, 2008 model 599cc.

Yamaha Bike Insurance Criteria

• Make/Model: Yamaha YZF – 600, 2008
• Ownership: Bike not Bought Yet
• Price: £7,300 new
• Motorbike Use: Social with Commuting to Work
• Annual Mileage: 8,000
• Security: Chain and Padlock
• Alarm: Yamaha Cyclelok YM 600
• Type of Insurance Cover: Comprehensive
• Voluntary Excess: £250
• No Claims Bonus: 3 years
• Where is the Motorbike Kept: Driveway
• Age: 29

The three best Yamaha bike insurance quotes came from ebike insure, Swinton Bikes and insurance4my.com.

Coming in third place with a price of £1,020.64 is insurance4my.com. Its key features are a total excess requirement of £500. This policy does not provide you with a courtesy vehicle and legal cover is £19.50 extra. Second place goes to Swinton Bikes with an annual premium of £946.03. The best quote that came in using our Buyability Yamaha bike insurance comparison tool was from ebike insurance with a premium of only £770.93. The good thing about this policy is the excess is £450 and legal cover is included.

The next quote compiled was for the Yamaha Aerox Race Replica, 49cc, 2008 model.

Yamaha Bike Insurance Criteria

• Make/Model: Yamaha Aerox Race Replica
• Ownership: Bike not Bought Yet
• Price: £2,199 new
• Motorbike Use: Social
• Annual Mileage: 5,000
• Security: Chain and Padlock
• Alarm: Yamaha Smartlock
• Type of Insurance Cover: Comprehensive
• Voluntary Excess: £250
• No Claims Bonus: 0 years
• Where is the Motorbike Kept: Driveway
• Age: 17

In third place, insurance4my.com gave a quote of £1092.49. The total excess is £700 and there is no legal cover or courtesy vehicle. In second place ebike insurance gave a Yamaha bike insurance quote of £1050.23. Coming in first place with a quote of £842.35 is Swinton Bikes. However this quote did not include legal cover or a courtesy vehicle.

Get a Yamaha bike insurance quote now!

Guest Article by Carlan Li

The UK’s largest insurer, Aviva, announces that it has dramatically reduced the number of life insurance doctor report requests.

It figures that is has reduced the number of doctor reports needed to support life insurance applications by some 60%.

Life insurance doctor report requests are a major part of the application process and take-up a considerable amount of administrative time.

Indeed, Aviva see it as a win-win situation for everyone, with customers getting their cover arranged more quickly than before; with advisors spending a lot less time on behalf of their clients chasing paperwork and applications; and, requiring a lot less time by GPs on application queries.

Aviva call their initiative to reduce life insurance doctor report requests theImproving Customer Underwriting. Not as snappy a name as some, but it underlies the fact the Aviva have effectively transferred much of the responsibility of collating medical information by using nurses and customer underwriters.

Aviva admit that although life insurance doctor report requests are still vital to their application process, they will keep such requests to a minimum, as this remains the best way to offer their customers the most competitive terms in a very competitive industry.

“We constantly look for opportunities to lead and grow the market. One of the main delays experienced when setting up life insurance policies is gaining evidence from a customer’s doctor, which in a large number of cases doesn’t even change the underwriting decision.

“This can be slow, due to the level of other work GP’s have, and providing this information understandably can be less of a priority to a GP. We have taken the decision to lead the market whilst managing risk effectively. These changes show a new understanding of what is actually needed, developing our processes in the best interest advisers and our customers.”

The trend to lower the number of life insurance doctor report requests is likely to be repeated throughout much of the life insurance industry say some observers.

Guest Article by Neil Camp

London & County, who claim to be the UK’s leading no-fee mortgage broker, says that borrowers are paying too much for life insurance from their banks.

Indeed, they go on to say that there are some high-street banks in the UK who are charging double the amount for their life insurance than if they were organising it via an independent broker, or general insurance company.

And London & County, to prove their case that by paying too much for life insurance consumers are being not treated fairly, have released an example.

Take life insurance for a man, say aged 30, and covering a mortgage worth some £150,000. For that, HSBC would at the time of writing charge £17.05 a month. And RBS, again at the time of writing, would charge £15.95 a month.

Yet, for the same cover, Aviva would cost £8 a month at the of writing, and even better, Legal and General would put you back only £7.73 a month at the time of writing. And those differences translate into yearly savings of around £100, or over £2,500 if taken over the 25-year life of a mortgage.

Which seems to prove the case that people are paying too much for life insurance from their banks, and should shop around.

“Anyone who has bought life insurance from their bank should review whether it represents best value for money. The simplest way to see if they could save money is to use L&C’s hminute Life Insurance Check calculator This will show them quickly if their current premium can be beaten for equivalent cover. Anyone currently applying for a mortgage via their bank should get independent quotes for life insurance – the savings could be substantial.”

Incidentally, to help judge whether London & County are right in their view that people are paying too much for life insurance, they have won a number of awards, including:

• Best Mortgage IFA/Adviser of the Year – Money Marketing, 2004, 2005, 2006 and 2008
• Best Technology Adviser – Money Marketing 2007
• Best Mortgage Broker outside London – Mortgage Strategy, 2004 and 2005
• Best National Broker – Mortgage Introducer 2005, 2006 and 2007
• Best Overall Broker – Mortgage Introducer 2005
• Overall broker of the year – Pink Home Loans, 2006 and 2007
• Top 100 company in the Sunday Times Fast Track 100 for 2004 and 2005
• Business of the Year – The Bath Business Awards 2005
• Growth Strategy of the Year – National Business Awards (Wales and West) 2008
• Business Leader (Broker) – British Mortgage Awards – 2008
• Online Mortgage IFA of the Year – Financial Adviser – 2008

So, if you’re convinced that people are paying too much for life insurance, talk to London and County and others like them.

Guest Article by Neil Camp