Car Insurance News
on car insurance and splash out on cars, research shows
Motor insurance for women may be cheaper than men's but the extra change could come in handy as research has shown women want to spend more on cars than they did three months ago.
Findings by AA personal finance show that while men hope to spend £29 less on car purchase than they did in June, women plan to spend an extra £404 on buying a car.
Lloyd East, a spokesperson for the finance service, said: "Women are driving up car prices."
Among the findings from both sexes was "a clear age divide" – the over 50s are more likely to finance a car in cash through their savings whereas under 30s are more likely to borrow, Mr East said.
He added that showroom finance is becoming more popular this year and is now the top choice for 35 per cent of buyers looking for funding.
The news follows the discovery by price comparison web site moneysupermarket.com that women's car insurance premiums have fallen by 8.2 per cent in the last year.
According to moneysupermarket, the annual motor cover premium for a female driver is now £654 on average, compared with £712 last year.
During the same period, the average car insurance quote for male drivers fell from £974 to £958.
Norwich Union to launch telematics-based pay-as-you-drive motor insurance after 3-year pilot
Norwich Union, Britain's second-biggest car insurer which earlier this month announced average premium increases of 16%, will launch a pay-as-you-drive motor policy before the end of this year, after a three-year pilot of the system in which 5,000 drivers took part.
Rival insurer More Than launched a related type of scheme for young drivers last month, which reduced premiums for those agreeing to drive only in daylight hours.
The NU scheme relies on a GPS-equipped ‘smart’ black box, piloted in conjunction with a US insurer, which relays data on how, where and when the insured driver’s car is used. The Times (11 September) says NU has not yet decided whether to charge users for the smart box. Telematics has also been piloted in the US to allow a sub-prime finance supplier to immobilise a car whose driver fails to maintain repayments on schedule – it is considered cheaper than elaborate credit checks to assess the risk of non-payment.
back to previous car insurance news...
Car And Motoring: News
- Ronaldo owned Porsche for sale
A Porsche 911 convertible once owned by Cristiano Ronaldo is for sale on Auto Trader for £44,995.
- Revised Renault Megane unveiled
Renault has unveiled a raft of revisions to its Megane range for 2012, making it safer, cleaner and more fuel efficient.
- Our top ten cars of 2011
It has been a busy year for Auto Trader’s motoring experts, with a huge array of cars tested.
Can't find what you're looking for? Try here: