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Nearly 40% of Brits delay home repairs
British homeowners are delaying carrying out repair work on their property in a bid to save money.
Research by the AA Home Emergency Response Service found that 39 per cent of UK home insurance holders (18.5 million) put off maintenance work to preserve savings.
However, by avoiding repairs homeowners face a collective bill of £1.2 billion as a result of neglected homes. One in five people (21 per cent) have experienced unforeseen problems and costs by scrimping on building work.
A recent survey from Moneysupermarket.com found that 23 million Brits stopped or cut down on savings in 2011 due to the rising costs of day-to-day living. The AA found that 14 per cent of homeowners carried out their own DIY work to avoid hiring a builder.
Tom Stringer, head of the company, said: "Many homeowners seem to be mirroring the government's drive for austerity but this can be a false economy as problems tend to get worse in the home if you leave them unresolved." More »
By Marianne Straker, Home Insurance - Wed 22 Feb 2012
Donkey from Shrek named favourite movie animal
Eddie Murphy's lovable 'Donkey' character in Dreamworks' Shrek has been named as nation's favourite animal movie star of all time.
With new creature flicks such as Warhorse and the Academy-nominated The Artist, which features 'Uggie' the dog, receiving critical acclaim from industry experts the Co-operative banking group compiled the top 25 most-loved animal characters.
Shrek's wise-cracking sidekick scooped the top prize whilst more classical figures such as Black Beauty and the labrador from Marley and Me had to settle for second and third respectively.
Whilst men and women agreed on the top two they differed on third spot with men opting for the "terrifying" shark from Jaws.
Following the success of the four Shrek films the franchise moved to the stage, hosting musicals in the UK and the US.
Lee Mooney, head of pet insurance at The Co-operative Insurance, said: "As pet owners already know, animals have a unique way of raising a smile with their entertaining antics and they certainly play a big part in the film industry, where they often steal the show with their performances." More »
By Marianne Straker, Pet Insurance - Wed 22 Feb 2012
Homeowners urged to avoid high premiums
Property owners in the UK are being urged to shop around when looking for the right home insurance.
Research by Moneysupermarket.com has found that opting for a high excess cover on their protection premiums may not be the right move for many Brits. The price comparison site's study found that there was a £190 difference in the level of excess on home insurance.
For a consumer to purchase cover at £0 cost of excess the premium would be £366 whereas a £500 price would result in a £176 premium. However, should the person need to make a claim they would need to find the £500.
Peter Harrison, insurance expert at the company, said: "It can be a real balancing act when looking at ways to reduce the amount you spend on household insurances whilst still getting the right cover for your needs."
Whilst homeowners are being urged to assess whether they need to take out accidental damage cover, a survey by MORE TH>N found that Brits drunk in their own home caused £700 million damage in the past year. More »
By Marianne Straker, Home Insurance - Wed 22 Feb 2012
HPI checks reveal 1 in 3 cars have something to hide
Buying a second-hand car could be wrought with danger if precautions are not taken, according to analysis of over ten million HPI checks. More »
By Tom Farley, Car Insurance - Wed 22 Feb 2012
Holidaymakers urged to check their travel insurance before the flight
It is important that holidaymakers check their travel insurance before they board their flight for their trip overseas. More »
By Tom Farley, Travel Insurance - Wed 22 Feb 2012
Understanding baggage allowance is the key to holiday packing
British holidaymakers need to ensure that they understand baggage allowances before they attempt to pack for their adventure abroad. More »
By Tom Farley, Travel Insurance - Wed 22 Feb 2012
More Brits saved less in 2011
Over 23 million Brits stopped or reduced the amount of money they were putting into savings in the past year.
Research by Moneysupermarket.com found that 47 per cent of UK consumers cut down on their savings with the survey revealing that 12 million people have been forced to stop due to the increasing cost of day-to-day living.
With the rising rate of energy bills more and more homeowners are finding it difficult to keep up with the payments and it has forced many to forget putting money away for future investments.
In a bid to save money the survey found that 45 per cent of people no longer ate out and a further 40 per cent cut down on buying new clothes.
Kevin Mountford, head of banking at Moneysupermarket, said: "It comes as no surprise that many people have reduced and even stopped saving completely at a time when the cost of living is high against a backdrop of ongoing low interest rates." More »
By Sarah Engle, Banking - Tue 21 Feb 2012
CML: Mortgage lending strengthens
Gross mortgage lending continues to recover as borrowing was ten per cent stronger for January than it was in 2011.
Statistics from the Council of Mortgage Lenders (CML) found that there was a decline to £10.5 billion with borrowing falling by 14.4 per cent from £12.2 billion in December.
Whilst the figures were lower than the pre-Christmas level they were up on 2011's £9.5 billion. This was combined with a report from the Mortgage Advice Bureau which showed that applications were up by 25.8 per cent from last year.
It signals a positive move in the struggling property market as more first-time buyers are getting their foot on the housing ladder.
Bob Pannell, CML chief economist, said: "The increase in lending compared to January last year helps support our view that housing and mortgage market activity may be boosted by first-time buyers seeking to complete deals before the stamp duty concession ends in March." More »
By Jonathan Dawes, Mortgages - Tue 21 Feb 2012
Cold snap costs Brits £1.6bn
The recent big freeze that engulfed the UK over the past month has cost British homeowners £1.6 billion.
Research by Moneysupermarket.com found that home insurance claims and heating bills soared as February experienced snow, ice and sub-zero temperatures.
The price comparison site revealed that a third of Brits were worrying about being able to afford their rising utility costs.
On average, property owners were paying an extra £77 on their energy bills as 81 per cent of people turned up the heating as the temperatures plummeted.
There have been calls for the government to reduce the VAT rate on heating costs with bosses at uSwitch saying that people could save £60 each on their payments if the rate was reduced.
Scott Byrom, energy manager at Moneysupermarket.com said: "For those who are really concerned about being able to pay their next quarterly bill as a result of the 'Big Freeze', it's crucial they speak to their provider about the assistance and social tariffs on offer." More »
By Marianne Straker, Home Insurance - Tue 21 Feb 2012
Student loan early repayment penalties abolished
Plans to impose a penalty on people wanting to pay back their student loans early have been abolished by the government.
It had originally been proposed to punish those wanting to clear their debts within the 30-year period after leaving university. Ministers believed this would prevent the rich quickly wiping out all their outstanding student loan but it had been criticised as many middle-earners also wanted to be rid of the debt before the existing timeframe.
However, the plans have been damned by the University and College Union (UCU) as it is perceived as another method to help the wealthiest within the society. Since the introduction of higher tuition fees the rate of student loans has had to be adjusted to meet the required payments.
The UCU believes that the government should be more focused on helping the poorer students afford to go to university rather than assisting the rich.
Sally Hunt, the union's general secretary, said: "While no one would condemn any family that sought to pay off their children's debt as fast as possible, today's move simply exposes yet again what an inconsistent mess the higher education reforms are." More »
By Sarah Engle, Loans - Mon 20 Feb 2012
More Brits hitting the 'snooze' button
More and more Brits are delaying getting out of bed on a winter morning by hitting the 'snooze' button.
Research by Sheilas' Wheels home insurance found that one in four people start their day by having an argument with their partner over grabbing a few extra minutes in the comfort of their bed.
Brits spend an average of 29 minutes with their alarms on snooze in the colder months, an increase from 17 minutes in the summer. In the UK, most people set their clock for 6.47am, hit the snooze button four times and eventually leave the house at 8.14am.
With Britain experiencing a severe drop in temperature over the past couple of weeks, dropping as low as -15 degrees C in some places, many are more reluctant to get out of bed.
Jacky Brown, at Sheilas' Wheels home insurance, said: "Scheduling in snooze time not only denies your body much needed rest, but is also a common source of arguments at home, which is the worst way to start off a day." More »
By Marianne Straker, Home Insurance - Mon 20 Feb 2012
Drunks cause £700m damage to UK homes
Brits drunk in their own home caused £700 million of damage, according to research by home insurance company MORE TH>N.
The company found that over a third of property owners admitted to causing a fire, a flood or smashing valuable items whilst under the influence. Middle-class people aged between 35 and 54 years old who had homes with an average value of over £240,000 were the worst offenders.
Buying alcohol in supermarkets has become increasingly popular as people choose to stay in rather than hit the bars but it can lead to a booze culture. Ministers in Northern Ireland and Scotland have backed plans to introduce a minimum pricing system which will abolish cheap, high-strength drink.
Matt Pernet, from MORE TH>N Home Insurance, said: "The dangers of drink driving are well documented, but the perils of being drunk in the home are not. Yet, as this research shows, the home can be a highly precarious place for somebody with impaired judgement." More »
By Marianne Straker, Home Insurance - Mon 20 Feb 2012
Sat nav confusion costs motorists £200m a year
Accidents caused by misleading sat nav systems cost drivers around £200 million each year, according to new research. More »
By Tom Farley, Car Insurance - Fri 17 Feb 2012
Drivers admit to using mobile phone behind the wheel
Almost half of drivers have used their mobile phones illegally behind the wheel, according to research by Halfords.
With over 200,000 people fined for using their mobile while driving last year, a report from the retailer found that the number of people actually committing such offences could be much higher, with one in four drivers confessing to doing so at least once a month, reports the Press Association.
It is not just taking calls while at the wheel that drivers admit to, with significant numbers browsing the web using sites such as Facebook and texting while on the road.
Police data shows that more than 171,000 fixed penalty notices were issued in the year up to October for using mobile phones while driving, while a further 35,000 people were fined by magistrates.
Using a mobile phone behind the wheel is punishable by a £60 fine and three points on the driver's licence, which could impact on people's car insurance premiums.
Research shows that reaction speeds are up to 50 per cent slower when using a mobile and drivers are four times more likely to crash. More »
By Tom Farley, Car Insurance - Thu 16 Feb 2012
David Cameron vows to end 'whiplash culture'
Prime minister David Cameron is planning to end the insurance culture in Britain which has made the country the "whiplash capital of Europe".
A report by the Transport Committee in January found that more and more people were claiming for whiplash injuries despite only being in minor crashes. The group blamed "ambulance-chasing" texts and emails encouraging two-thirds of Brits to make personal injury claims.
Now Mr Cameron is aiming to clamp down on this attitude which is inflating car insurance premiums by £90 a year. Ministers have said that they are prepared to cut the £1,200 fee that lawyers receive for these types of claims to prevent this action from happening on a wider scale.
The prime minister said: "I am determined to tackle this damaging compensation culture which has been pushing up premiums. I want to stop trivial claims, free up businesses from the stranglehold of health and safety red tape and look at ways we can bring costs down." More »
By Tom Farley, Car Insurance - Wed 15 Feb 2012
Brits favouring smaller cars
The iconic family saloon car is on the decline as more mums and dads opt for smaller "runaround" vehicles.
Research by car insurance company Aviva has found that the ethos behind buying a vehicle has changed for families dramatically in the past 30 years. In the 1980s it was normal to see a driveway with a large saloon and a hatchback car.
Whereas in the 80s the woman of the house drove the smaller vehicle, now men are favouring the "runaround" car whilst mums are opting for larger vehicles with 4x4 hybrids such as the Citroen Picasso and the Toyota RAV4 becoming increasingly popular.
Companies like Mitsubishi continue to produce cost-efficient saloon vehicles and the firm has recently announced the launch of its "greener" New Generation Outlander.
Heather Smith, director of car insurance at Aviva, said: "As families' lives become more busy and complex, with two working parents and children to be dropped off at school, it appears multi-tasking mums need a vehicle fit for both work and family life while cost and fuel efficiency are increasingly important to dad". More »
By Tom Farley, Car Insurance - Tue 14 Feb 2012
Pets lavished with £41m of Valentine's Day gifts
Pet owners are paying out a whopping £41 million on Valentine's Day gifts for their four-legged friends.
Research by the Co-operative pet insurance found that the average owner spends £15.82 on their animal.
However, in regions such as Yorkshire and the Humber people can splash out up to £30.50 compared to spending an average of £26.91 on their partner.
The most popular gift for a dog or cat is a bunch of flowers followed closely by a food treat. The survey also revealed that men are twice as likely to buy a Valentine's gift for their pet with 14 per cent of males buying a romantic gift for their pooch.
A recent survey by UrbanPup.com revealed that 70 per cent of owners treat their dog to a "favourite walk" in the countryside or along the beach on the "most romantic day of the year".
Lee Mooney, head of pet insurance at the Co-operative Insurance, said: "The survey has clearly shown that pets are going to be extremely spoiled this Valentine's Day and in some cases have more spent on them than their owner's significant other." More »
By Marianne Straker, Pet Insurance - Tue 14 Feb 2012
Young males pay more for car insurance
Young males are paying almost double for car insurance compared to women, according to new research by Confused.com.
The price of running a vehicle for men aged between 17 and 20 continues to soar as the report revealed that women pay £1,711 less than their male counterparts for cover in the UK.
For a young man to insure his vehicle it can cost up to £3,730 which is a significant rise on the rates given to women. The gender gap is even higher in London where premium protection prices are at an average of £5,523 adding to a 48 per cent increase on anywhere else in the country.
With Hasting Direct recently revealing that high petrol prices were putting off 78 per cent of people who drove a car, it is becoming increasingly expensive to own and run a vehicle.
Gareth Kloet, head of car insurance at Confused.com, said: "There is still a huge disparity between what men and women are being charged for their car insurance. It's more important than ever to shop around and we're committed to making it easier for people to save money on their car insurance." More »
By Tom Farley, Car Insurance - Mon 13 Feb 2012
Zante named top 2012 destination for Brits
Zante has been named the top destination for British holidaymakers for the coming 12 months.
Holiday company Cosmos put the Greek island at the top of the list as it predicted the most popular resort for Brits in 2012. Zante beat off competition from other favourites such as Florida, Tenerife and Majorca.
The island was commended for its "idyllic fishing villages" and "neon-lit resorts for party goers" as well as the "wonderful scenery". Whilst many teenagers head for the tropics of fellow Greek paradise Malia, Zante is becoming increasingly popular for young and old alike.
Many holidaymakers are now looking further afield than the traditional French and Spanish vacations as more people get adventurous on their travels.
A recent poll by the Wanderlust Readers' Travel Awards named countries such as Sudan, Greenland and Mongolia as the top "up-and-coming" regions to visit if a holidaymaker is looking for something different in a getaway. More »
By Tom Farley, Travel Insurance - Mon 13 Feb 2012
