Insurance News Round-up: Interesting articles from the past 30 days

Gold carFool’s Gold: when an uninsured driver’s bling backfired

Schadenfreude is a curious word describing pleasure gained from seeing others in trouble. It’s such an uncommon British emotion that we had to borrow the word from Germany, but it’s exactly the word to describe seeing a gold Maserati being towed away by the police for not having insurance. Not only was the driver of the £90K super car uninsured, but the car was displaying L-plates suggesting a learner.

Besides paying a towing fee the driver can expect a court appearance and if found guilty a minimum £300 fine and six penalty points. London’s Kingston police tweeted the picture with the hashtag #NoInsuranceNoCar.

Shaggy dog stories and unusual insurance claims

As a nation of pet lovers it’s often our four-legged friends who rule the roost and that can lead to some expensive home insurance claims. A leading provider has spilled the beans on some on their more unusual pet related claims and it makes for interesting reading. Take the case of the protective puppy who leapt through the patio doors to chase a cat; only to find the doors were shut and shattered them costing £2,000 to replace. Then there’s the one about the wandering tortoises who knocked over a heat lamp setting fire to the room and causing £6,000 worth of damage, but managing to escape unscathed. And finally there’s the tale of a dog owner who took his hearing aids out to get some peace and quiet; only to have them gobbled up by his pet pooch.  And the moral of all these stories: make sure you’ve got adequate home insurance as damage caused by pets can leave you seriously out of pocket.

It was the best of times…it was the worst of times

It’s good news for homeowners and bad news for motorists. Figures released by the Association of British Insurers show home insurance premiums are at a four year low despite the cost of last winter’s floods. The average combined Buildings & Contents policy now costs £309 which is slightly cheaper than last year despite the increase in Insurance Premium Tax. Unfortunately, while home insurance costs are falling; car insurance costs are climbing and at an alarming rate. In fact, car insurance premiums have soared by nearly 20% in the past year. The average cost of comprehensive cover is £715 a year representing the biggest price hike for five years.

Majority of Britons don’t understand benefits of EHIC

Recent research by a leading insurer has revealed that seventy percent of Brits mistakenly believe the European Health Insurance Card (EHIC) entitles them to free emergency medical care on the continent. The EHIC is a holiday essential that provides complimentary state medical care at the same level the locals can expect. However, few European countries healthcare systems match-up to the NHS and holidaymakers who find themselves in trouble can be left seriously out of pocket. The report is a useful reminder of the benefits of travel insurance and the value of medical expenses cover.

 


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