Insurance News Round-up

Toy lorryMarch has been another busy month in the world of insurance and as winter (slowly) turns into spring the weather has understandably played a large part in writing the news headlines. However, our top editorial pick goes to the prohibitively high premiums facing young HGV drivers.

HGV Premiums Don’t Add-Up for Youngsters

Teenaged Lizzy Coulson was delighted to pass her HGV test and be able to provide more help on the family farm in Lincolnshire. However, when she began shopping for insurance her plans came to an abrupt stop.  One insurer suggested waiting four years until her 23rd birthday and another quoted a whopping £11,000 premium. Lizzie said “You have got to give young people a chance …if the government allows you to take the HGV test at 18, why won’t the companies insure you?” and at Quoteline Direct we couldn’t agree more.

If you are a young driver looking for affordable HGV insurance visit our Truck Insurance page

One Third of Cars Damaged by Potholes

Whether it’s down to government cuts or Jack Frost it’s depressing to discover that one third of drivers have had their vehicles damaged by potholes in the last two years. At the same time the pothole repair bill is estimated at a whopping £10.5bn, surely it’s time that something was done about the state of the UK’s crumbling roads?

Lloyds Gets the Gaga Treatment

In June 2012 Lady Gaga was forced to cancel two concerts in Indonesia having been branded the ‘devil’s messenger’ and threatened by Islamic hardliners. Now she’s filed a lawsuit against Lloyd’s of London for refusing to payout under terrorism clauses, begging the question of whether the whole world’s going a little bit gaga.

Flood Insurance Talks Break Down

The government and the Insurance Industry continue to lock horns over the future of flood risk insurance. The current agreement, which guarantees affordable insurance to the 5.2 million homes and businesses at risk of flooding, is due to expire in June. On the upside DEFRA has hinted that there is legislation in the pipeline, although Owen Patterson has said it’s unlikely that any new measures would be introduced before spring 2014.

Cash for Crash Scammers Jailed

Six people from County Durham have been convicted of ‘cash for crash’ fraud thought to have cost locals of Derwentside an extra £100 on their car insurance. Meanwhile Bristol Crown Court found one greedy scammer guilty of staging car crashes worth £80,000 over a two year period.

Mobile Phone Insurance Slammed

The Financial Ombudsman Service received a record 600 complaints about mobile phone insurance last year and upheld 69% of complaints. The figures are thought to barely scratch the surface of the problem with dissatisfied customers complaining about sky-high costs and rock-bottom service.

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