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Claims Farmers Ban Means Higher Car Insurance Premiums Says UK Insurer

Performance Car Insurance — Wed, 14 Sep 2011 15:32:25 +0000

Car insurance comparison website Car-Insurance.tv is reporting that the proposed ban on fees paid for referring accident victims to personal injury lawyers, will ultimately lead to higher car insurance premiums.

In a bid to reduce liability claims for all accidents at work, trip and slip and road traffic accidents it appears that the loss of profits caused by the ban will backfired onto the motor insurance companies themselves………

Car Insurance Premiums To Rise With Claims Referral Fee Ban

From Car Insurance Blog

Last Friday the coalition UK Government announced that it intends to outlaw the practice of accepting a fee in return for passing on information of road traffic accident victims to solicitors, the so called ‘referral fee’.

Car Insurance premiums have been rising all year as the market hardens to adjust claims reserves.

A recent AA report of 40% additional costs to the average premium has sparked investigations into the industry by the FSA and OFT. On the same day as the announcements of the investigations are made the Government also announce that referral fees are to be banned.

To be fair, the OFT has been investigating anti-competitive practices and price fixing in the UK Car Insurance market for nearly two years now, however since the ex-Justice Minister Jack Straw called claims management companies ‘pariahs’ and ambulance chasers in June this year, the association of higher car insurance premiums and the rising costs of claims, has been firmly established in the UK public’s psyche.

On further investigation by the British media it turns out that insurance companies themselves are the major benefactor of the referral fees and also the major provider of the personal data to the third party companies!

When insurance companies refer your data to an accident claims management company they receive anything up to £1000 per case. Because the fees cannot be awarded against the losing party, the cost of the fees is paid for by the accepting solicitors and cannot be recovered from the losing liability insurers. Effectively there is no subrogation of the costs and selling your data is a win-win situation for all the underwriting car insurance companies.

Admiral Insurance, which has many online faces including confused and elephant, has stated that because referral fees account for 6% of their profits, any ban will inevitably lead to higher car insurance premiums.

Paradoxically though it has been the major insurance companies that have been moaning about CFA’s and no win no fee solicitors for years in the industry press, enough to have sparked two major judical reviews.

So on the face of it, car insurance companies seem to have cut off their noses to spite their faces and the ban will almost certainly lead to higher car insurance premiums. The problem is that referral fees are only a symptom of the claims losses and not a component of the claims loss itself.

The Government obviously and mistakenly feel that if you remove the fee for ‘advertising’ or facilitating, then you will reduce the demand in the market. Car Insurance Blog believes this is very naive!

If people are injured then they will claim. The real problem with the rising cost of motor insurance claims is the total cost of whiplash claims and the hourly charges of civil solicitors, both of which should be capped at levels much lower than current.

Claims Farmers Ban Means Higher Car Insurance Premiums Says UK Insurer is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Buying Car Insurance on the Phone

Performance Car Insurance — Mon, 12 Sep 2011 22:16:43 +0000

At one time it was impossible to arrange car insurance contacts over the phone, however for the ten years prior to the arrival of online car insurance underwriting systems at the turn of the century, arranging car insurance on the phone was for many the de facto method. However buying direct from a car insurance company over the phone limited your choice and often was not suitable for all drivers.

Today, as well as car insurance comparison sites for the confident web user, some individuals still prefer to telephone for motor insurance. People like to talk.

When car insurance call centres were first established many were located in remote areas around the country and insurance companies did not have a local call centre in every town and city. Calling one of these call centres if not local on a local charge rate could work out expensive and this put many people off purchasing motor insurance over the telephone. Prior to this drivers had been accustomed to a face to face purchase over a insurance brokers or insurance company counter, located locally to where they lived.

Local rate and 0800 free car insurance telephone numbers were established to over come this, but the insurance companies running the call centres found that the numbers were being abused by false purchasers, time wasters and lonely people. As the call was free people could stay on the telephone for as long as they wanted and ask as many questions as they liked.

To overcome this and reduce time wasted by call centre staff, set scripts were designed that led the customer through the quotation and sales process. The staffs telephone script was adapted to finish the call if the caller was not suitable or the insurance company were not able to provide cover so for example if it is a stipulation of the cover that the insured to be does not have more than two accidents and the caller reports three, the member of staff can cut the call there and say that they would not be able to help. If the insurance company posed this question to the customer early in the call, this solved the problem!

Modern UK telephone call centres are now cheaper and well established. The technology used is now more efficient and integrated with the insurer’s back office computer systems for cost and time savings. Insurance companies have learnt the lessons of selling direct to the public over the telephone by staffing the telephone lines correctly when television or press campaigns are on.

As the price of call centres and complex phone systems became more affordable, insurance brokers have also invested in their own call centres, in order to provide a more efficient and extended opening time to their new and existing customers.

One such national broker with access to over 100 different car insurance policies is Adrian Flux Insurance, whose call centre offers more choice than the largest online car insurance comparison site. The call centre can be reached for free on 0800 0890182.

Call centres have had their problems, especially those major banks and insurers that moved their main call centres abroad to reduce costs. Fortunately now you have a choice of ringing either a local broker, national broker or insurance company to arrange cover.

Buying car insurance on the telephone can be done from anywhere today with mobile phones. The process is quick and easy and you know that you have the correct cover for your circumstances at the end of the conversation. It is also worth noting that when discussing the premiums for your cover on the phone, it is an accepted practice to negotiate and haggle for a better price than you have found elsewhere. You also have the knowledge that if you need to make a claim, a human will be on the other end of the line!

Buying Car Insurance on the Phone is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Cut Your Car Insurance Premiums Costs!

Performance Car Insurance — Sun, 11 Sep 2011 22:37:26 +0000

Are You Overpaying For Car Insurance Cover?

From Car Insurance Blog on September 11th, 2011

Car Insurance – What are you paying for ?

The law states under the Road Traffic Act that it is a requirement to have third party road risks cover.

In this day and age when we telephone our insurance company to look for insurance cover for our vehicle, are we buying insurance or are we buying something else as well?

Modern car insurance now includes many additional covers to the original legal requirement.

We have comprehensive cover. This is all risks cover on your vehicle.

Approved Repairers
Your car can be repaired whether you are at fault or not and you do not have to wait for the third party to pay you to start the work.
You can have the car repaired upon authorisation of your insurance company. In this day and age the work required to be carried out on your car is undertaken by an approved repairer appointed by your insurance company.
The approved repairer would have agreed terms conditions and charges for parts and labour with the insurance company. In return, the approved repairer becomes one of the insurance companies approved panel of approved repairers and have the guarantee of work under the terms agreed.

If your car is a classic car or car that would require specialist dealers it is worth checking that they are on the panel or there would not be a problem in the event of a claim to use them. If in doubt, check with a specialist classic car insurance broker you may need a specialist policy.

Motor Legal Expenses
Car Insurance Blog thinks this is an essential add on to modern car insurance. It covers legal dispute in the event of a claim. There are limits to the cover and higher limits maybe available for an additional premium.

Road side Assistance / Free breakdown cover
This can be added for an additional cost per year. >

Car Hire
This cover allows you upon authorisation of the insurance company to hire a vehicle whilst your vehicle is being repaired.
It is worth looking at this cover to see if you are covered for a comparable vehicle or it is limited to the type of vehicle you can hire.
Normally the insurance company use a panel of hire companies to provide the vehicle.

Claims Helpline
This is normally a free or local rate telephone number which can be called to a call centre at the insurance company. They are trained to help you with your claim.

Check to see if your insurance company has provided this service free of charge.

It is always worth checking your car insurance documents sent from the insurance company you have placed your insurance cover with to see exactly what you have paid for and whether you need this cover.
Also check the excess that the insurance company has applied to your policy in the event of a claim.

Excesses
An excess is the amount that you have to pay towards your claim. This can be anything from £50 to £1000. Also check the other excesses that apply you may be penalised because of your age, convictions etc. If you think these limits are too high speak to your insurance company to see if the excess can be reduced to a more affordable amount. The problem with this is that insurance companies may want more money. Insurance companies normally provide a discount to the premium for higher excesses, so the higher the excess the lower the premium.

If in doubt, talk to a car insurance broker who can talk you through the covers and compare car insurance on your behalf.

Cut Your Car Insurance Premiums Costs! is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Car Insurance Premiums – War is Declared

Performance Car Insurance — Fri, 09 Sep 2011 11:19:31 +0000

From Insurance Blog

The UK Government has declared war on the private motor insurance market.

The Government has yet to decide who the enemy actually is, although one ethnic group ‘CFA referal collectors’ have been singled out for the death camps and news coming out of Westminter today confirms this.

The call for the ‘War on Car Insurance’ from the media and consumer led groups has reached deafening proportions recently and the UK Government will tell you they have been forced to act.

The AA have stated that the ‘average’ car insurance premium has risen by 40% and on the word of the AA and probably as a deflection away from the more pressing economic issues, battle has begun.

Government Forces Attack

First into battle yesterday for the Government, was the consumer watchdog the OFT (Office of Fair Trading). They have been asked by HQ to find out if the car insurance prices rises are real and whether there are any (choke) anti competitive practices occuring in the UK ptrivate motor insurance market that may be pushing up prices. To do this they have asked the nation to contribute in an open call to arms, to publically air their grievances on car insurance price hikes, by filling in a form.

The OFT has asked all the suspects to contribute to the war effort or else stand accused of being part of the problem not the solution to higher car insurance premiums.

Most Wanted Suspects

1. Price Comparison Websites

2. Replacement Vehicle and Car Hire Companies

3. Approved Motor Vehicle Repairers.

4. Insurance Companies Products.

None of the major suspects is being pulled in for interrogation at this point in time. They have been given 5 weeks until October 12 to comply with the resolution or face shock and awe.

Have your Say

A spokesperson for the regime said’

“We will be engaging with participants in this market, trade bodies, the Government, regulatory agencies and consumer groups over the next five weeks by issuing information requests, arranging roundtable discussions and holding bilateral meetings.

Information requests:

Questions for credit hire providers (pdf 96 kb)
Questions for insurance companies (pdf 157 kb)
Questions for vehicle repairers (pdf 97 kb)
Questions to price comparison sites (pdf 93 kb)

We will also be inviting comments from consumers and other interested parties. The OFT is, however, unable as part of this study to address or advise consumers in this market on individual matters or complaints.

Any party that wishes to submit their written views, can e-mail motorinsurance@oft.gsi.gov.uk by 12 October 2011 or write to:

Private Motor Insurance Call For Evidence
Fourth Floor
Office of Fair Trading
Fleetbank House
2-6 Salisbury Square
London EC4Y 8JX “.

Second Front Opens with Pincer Movement

As soon as the OFT went into battle yesterday, it was immediately announced that the Government were opening up another front with a full out attack of its heavily armed praetorian guard, the FSA, against those supplying information to the enemy in return for money. The practice is to be banned immediately it has been confirmed today, confirminmg that the government will take the side of Insurers against Lawyers. Questions of the legality of the war and the interfering with free trade could be raised at the international courts at a later date.

Tensions between Solicitors and Insurance Companies have been rising steadily over the last few years with Insurers furious about having to pick up massive bills for professional negligence by solicitors involved in mortgage and building surveying disputes. In many cases Solicitors Professional Indemnity insurance premiums have been raised so high that many solicitors are now finding it impossible to practice.

Coupled with the massive amounts that the insurance companies are having to pay against public liability and employers liability claims for negligence, it appears the Insurance companies have finally had enough.

The number of car accidents involving personal injury claims is 31% down on the average for ten years prior.

However the cost of personal injury claims has more than doubled from £7bn to £14bn in the past ten years and motor insurance premiums have risen at least 30% this year.

Insurance companies are blaming Conditional Fee Arrangements (CFA’s) or ‘No Win No Fee’ for the rising costs of car insurance. They argue that there is no disincentive, such as having to pay if you lose, that’s stops people making a claim if you have been injured in a car insurance accident.

The Government has stopped going as far as banning CFA’s completely, which would seriously impede that right to justice for the majority of the people in this country who cannot afford solicitors bills of £180 per hour +.

Today it has announced that those referring accident injury victims to solicitors and lawyers will be banned from receiving payment!

It also seems that the special relationship that UK Insurance companies have with UK Government through the ABI etc. appears stronger than that of the Law Society and Solicitors Regulation Authority (SRA) who traditionally only find allies in the other place, the House of Lords.

It also appears that the Government think that the Insurance Companies, who set the car insurance prices, are not actually responsible for their own pricing!

Insurance Blog will keep you abreast of all the developments as the war on car insurance unfolds. We will also be running a series of posts that examine in detail the questions being asked of the Motor Insurance Market.

Car Insurance Premiums – War is Declared is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Car Insurance Rates Under UK Trading Standards Investigation By OFT

Performance Car Insurance — Thu, 08 Sep 2011 10:29:58 +0000

Compare Car Insurance? Not if the UK Government gets its way!

The way that car insurance is sold to the UK public is to come under close scrutiny in a new investigation announced today by the UK Government consumer watchdog the OFT (Office of Fair Trading) and it looks like car insurance comparison websites are in the firing line!

UK Car Insurance To Be Investigated By Consumer Watchdog The OFT

by Car Insurance Blog on September 8th, 2011

The UK Government sponsored watchdog the Office of Fair Trading (OFT) is finally going to investigate the way car insurance is sold in the UK and in particular if and why rates and premiums have risen by 40% this past year.

The watchdog’s investigation comes after numerous outcrys, complaints and campaigns from the British media including the BBC and consumer advice organisations such as Which.

The OFT today issued the following press release:

UK annual comprehensive car insurance premiums are reported to have risen by as much as 40 per cent in 2010-11 and the OFT is interested in gathering market participants’ views on:

whether the reported increase in private motor insurance premiums is accurate
the factors that are responsible for contributing to any increase in premiums, and
whether there is work that the OFT or other parties could be doing to improve the way that the market is currently functioning.

The OFT is interested in examining reports that car insurance premiums in Northern Ireland are significantly higher than they are in the rest of the UK and understanding the reasons for any difference.

We have identified a number of aspects of the private motor insurance market that may raise competition or consumer issues:

the role of price comparison websites
the provision of credit hire replacement vehicles to drivers who are involved in accidents that are not their fault
insurance companies’ use of panels of approved repairers, and
ancillary products (such as motor legal protection) that are sold by insurance companies in addition to standard motor insurance cover.

The Financial Services Authority (FSA) has raised concerns about the fair treatment of consumers who buy insurance on price comparison websites and is currently consulting on proposed guidance for businesses that operate these websites.

The cost of personal injury claims, another potential contributory factor to rising private motor insurance premiums, is currently being considered by the Government. We have therefore agreed with Ministry of Justice that this aspect of the market should not be a focus of our evidence gathering.

We have already co-ordinated, and will continue to work, with both the Government and the FSA over the course of this work.

Have The OFT Already Missed the Point?

As a long time campaigner for cheaper car insurance premiums Car Insurance blog welcome news of the investigation.

It is interesting to note that the OFT have only identified four key areas that it hypothesises are responsible for the premium hikes.

1) the role of car insurance price comparison sites

The main cause of the premium rises? Hmm, Surely these are supposed to provide cheaper car insurance?

2) the provision of credit hire replacement vehicles to drivers who are involved in accidents that are not their fault

The end of the road for replacement vehicles?

3) insurance companies’ use of panels of approved repairers

We’ve always questioned the cost for ‘insurance purposes’!

4) ancillary products that are sold by insurance companies in addition to standard motor insurance cover.

Do you really need that breakdown cover that you already have?

Unfortunately the OFT seem to be ignoring what they majority of people in the car insurance business seem to think are the reasons behind the rate hikes and higher premiums and that is whiplash accident claims farming and the reduced capacity of profitable claims reserves.

Car Insurance Rates Under UK Trading Standards Investigation By OFT is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

The Triumph TR4 is Fifty Years Old!

Performance Car Insurance — Wed, 31 Aug 2011 13:23:21 +0000

The Triumph TR4 is fifty years old this month. The iconic little sports car from Canley Woods was made primarily for export, however the classic sixties design went on to spawn the popular TR5 and TR6 models.

Happy Fiftieth Birthday Triumph TR4!

Classic Car Insurance and valuation expert Dave Healey takes a closer look at the life of the classic British roadster…..

The Triumph TR4 & TR4A

Launched at the 1961 Motor Show in London the Triumph TR4 two-seater British roadster met all the design challenges of the 1960′s with an impressively stylish designed body from Michelotti that survived for fifteen years until its descendent the TR6 was discontinued in 1976.

Two year earlier Triumph had launched the classic Herald saloon whose bodylines designed by Italian Giovanni Michelotti led to great sales success that lasted in the 1970s.

With this in mind Triumph, which had just been bought by Leyland Motors, had asked Michelotti to come up with a new sports car to replace the aging TR3 whose shape dated back to 1953 and the earlier TR2.

Distinguished by its curvaceous bodywork and bonnet hooded headlights attached to the chrome grill, mechanically the new car was similar to the TR3, however the new technology of an all synchromesh four speed manual gearbox with optional overdrive was installed.

This meant that although the TR4 had essentially the same four cylinder overhead valve 2138cc engine as its predecessor, it was a foot longer and had a wider wheelbase. The TR4 produced 100 bhp at 4600 rpm and was capable of a top speed of 102 mph. There was an option to buy the car with the old 1991cc engine for racing in sports car classes under 2000cc.

The car had a good performance for its time and could accelerate from 0 to 60 in 11 seconds and averaged around 25 miles per gallon.

In 1965 after selling 40,000 cars, the TR4 was upgraded to the TR4A.

Although outwardly similar in appearance with the exception of a walnut veneer dashboard, the TR4A was mechanically much different with the arrival of semi trailing arm independent rear suspension incorporating a new rear axle, which had been tested on the Triumph 2000 saloon since 1962. The aging pushrod engine was also upgraded with the addition of a new camshaft design which increased the car’s top speed to 110 mph.

The TR4A produced 104 bhp at 4700 rpm and was not as efficient on fuel consumption. The TR4A also included the famous Michelotti ‘Surrey top’, a semi-convertible roof with a rear roll bar window and was also the last Triumph model to carry the original Triumph Globe badge on the bonnet.

The Triumph TR4 and TR4A were manufactured at the firms Canley works in Coventry from 1961 until 1967. In all 68,718 units were produced mostly for the US and European markets. Not cheap in relation to its domestic competitors such as the MGB the car was priced at �1,106 on the road.

Fifty years on the sleek little sports car has survived the test of time. There are just under 2000 TR4s remaining in the UK today, the majority of them still on the road!

If you own a Triumph TR4 you should cover it under specialist car insurance policy preferably from a broker that deals specifically with classic sports car insurance. You can make further savings on covering your classic TR4 if you join a recognised triumph owners group or association

The Triumph TR4 is Fifty Years Old! is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Cheap Car Insurance For Peugeot Owners

Performance Car Insurance — Thu, 18 Aug 2011 11:25:58 +0000

If you own a Peugeot, take advantage of some very cheap car insurance deals for 2011 and 2012. This post from Car Insurance Blog tell you where to get the best deals available:

If you own or are thinking of buying a new Peugeot there are some great deals available at the moment, however it is worth comparing different options. Perhaps the best offer comes from Peugeot itself who are offering 3 years ‘free’ fully comprehensive car insurance as part of an aftercare package with new cars called ‘Just Add Fuel’ which also covers maintenance and warranty. There are however quite a few restrictions to who can be covered:

Drivers over 25 (Over 30 for 308 CC 156bhp models) and under 75.
A maximum of 1 motoring conviction in the last 5 years (CU, MW, PC, PL, SP, TS codes only).
Must have a minimum of 2 years No Claims Discount.
A maximum of 1 fault or theft claim per driver in the past 3 years.
All drivers must have a full UK/EU licence for a minimum of 2 years

The cover is provided under a scheme from a UK Insurance company and the normal rules for no claims bonus etc apply during the period of cover. The policy does have a high excess which means if you make a claim you’ll have to pay this amount. Another downside is that young drivers under 25 who might have been tempted by the sporty Peugeot 207 for example, are excluded.

If you don’t fit the criteria for new Peugeot car insurance, you should compare Peugeot insurance quotes here at Car Insurance TV.

Our new Peugeot Insurance comparison system brings you a very wide range of Peugeot Insurance schemes and policies with a choice from over 130 different FSA registered UK Insurance brokers, brands and specialist car insurers.

Cheap Car Insurance For Peugeot Owners is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Everyone Is Overpaying For Their Car Insurance Premiums!

Performance Car Insurance — Sat, 30 Jul 2011 11:51:08 +0000

Everyone is overpaying for their car insurance premiums! You, Me and the guy next door!

That is according to one of the top Uk car insurance comparison websites Car-Insurance.tv.

Car Insurance Expert Dave Healey has published a post which shows how most of us buy cover that we don’t really need or pay into an insurance pool where others will claim on things that we never would pushing up our premiums……

Are You Paying Too Much For Your Car Insurance?

You could be paying too much for your car insurance without realising it!

Many people buy covers that they never use.

Do you know all the risks that your car insurance policy covers you for? If you don’t, it is highly likely that you are being charged for some elements of cover that are either inappropriate for your circumstances or are for risks that you are unlikely to ever claim on.

Most motor insurance policies, especially the standardised ones that you are offered at car insurance price comparison websites, are packaged and will include a broad range of risks, each element of which is rated separately and added into the premium.

For example, an offer of free windscreen glass repair on all comprehensive policies will have a rate that is already incorporated into the policy price.

Likewise will the offer of a free courtesy car if you are unfortunate enough to be involved in an accident and claim. Each driver risk and car risk has its price in the calculation of the overall charge to you the consumer.

Each element of a policy is also a potential payment for covers you don’t require. It is essential that you consider each risk element before falling for the marketing ploys of the car insurance companies and buying insurance. For example you could be buying unnecessary breakdown cover on a new car.

Before you start spending hours online comparing motor insurance quotes, it is a useful and financially rewarding exercise to think about and note down the exact cover that you need.

When comparing car insurance covers you are then in a position to see the cover that you don’t need! This will save you a lot of time avoiding those companies, that will charge you irrespective of whether you need the cover.

You should honestly consider exactly how you have used the car in the previous period of insurance. An example of usage is the annual mileage you declare when getting a quote.

If you have only driven 3000 miles in the last year and you have bought a standardised policy that covers you for the default 12000 miles, then you are without doubt paying too much for your cover and should inform your Insurer of this at renewal or consider switching to a limited mileage policy.

This is particularly applicable if you are a young driver looking for cheaper cover who needs to build up no claims years and driving experience. By limiting the amount of miles you drive each year it is possible to build up a good no claims bonus and enjoy cheap premiums.

Similarly this applies to drivers who own expensive or classic cars which are garaged for the majority of the time. If you are not insured under a limited mileage policy then you will be paying more than you should for your insurance.

When applying for quotes try to give as much information as possible that accurately reflects your lifestyle as these are the elements you will be charged for. Unfortunately most car insurance price comparison sites offer standardised risk policies that do not include the discounts available for lifestyle usage to which you may be entitled.

For this reason you will need to approach a specialist car insurer or broker who has these types of motor schemes and polices for sale and can in most cases provide tailored cheaper cover for the way that you use your car.

To find a motor insurance specialist that is the best for your circumstances and will save you money, you will need to search on the Internet by characteristics of your risk type, as this is how most specialist insurance companies offer their policies. For example if you are female and drive a classic car a few thousand miles a year at weekends because you live in a city, then search for lady classic car limited mileage schemes, which should return you a list of specialist insurers in your area.

It is essential that you find a specialist car insurance company if you own an unusual or rare car such as a high performance sports car or a classic. Don’t be tempted to use a mainstream insurance company or a price comparison site.

Classic car insurance quotes are specifically designed to let you choose the elements of risk you require such as limited mileage, but more importantly allow you cover for your classic car on an agreed valuation basis as opposed to the current market value. This means you’ll actually get back what its really worth if you make a total loss claim.

Article Source: Dave_Healey

Everyone Is Overpaying For Their Car Insurance Premiums! is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Celebrity Buys Ferrari Classic Car Insurance

Performance Car Insurance — Sun, 24 Jul 2011 17:43:36 +0000

Life being a celebrity isn’t all a bed of roses you know! After all, they can’t even go on the Internet and compare car insurance prices for their Bugatti, Bentley or Ferrari.

Not because they are celebrities, but because most mainstream car insurance companies will not cover them because of their employment as an entertainer or footballer etc.

So as the lucky person who just bought a celebrity Ferrari at Silverstone today will soon find out, especially if they are another famous person or work in an unusual public position, it is essential that if you own a high performance, sports car or classic car or motor, to seek out a specialist car insurance company.

Specialist Car Insurance Brokers will make sure that you have the right cover for the cars needs. For example if the person who bought the ‘Celebrity’ Ferrari for £66,500 at auction today did not insure the car under a classic car insurance policy which included an agreed valuation, any provenance that might have gone on the value of the car by who owned it, will be lost in the event of a claim.

The yellow Ferrari which exceeded its guide price at auction was previously owned by British rock guitarist Eric Clapton of Cream and Derek and the Dominoes fame and BBC Radio 2 presenter Chris Evans has fetched £66,500 by a private buyer at a sale in Silverstone today.

Auction manager Guy Loveridge said the vehicle exceeded its guide price.

The yellow Maranello was bought new by Mr Clapton, who signed its service book, and was later sold to Mr Evans.

Mr Loveridge said the Ferrari – which was described by Silverstone Auctions as a desirable car in its own right – was in lovely condition.

“Famous name provenance is always a help,” he said.

“It’s a great car and we are not surprised that it fetched such a large amount of money.”

The car had been expected to go for between £58,000 and £66,000 at the Classic Sale at Silverstone, Northamptonshire – the home of the British Grand Prix. There are more classic sales over the next few days and buyers can get immediate classic car insurance quotes or cover by phoning a specialist classic car insurance broker on 0800 089 0182

Celebrity Buys Ferrari Classic Car Insurance is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Car Insurer Says Technology Could Eventually Make Car Insurance Extinct

Performance Car Insurance — Sat, 23 Jul 2011 16:44:35 +0000

One of the UK’s leading online car insurance comparison websites and portal for every type of motor insurance, Car Insurance TV, has predicted that the rapid advancement of car technologies such as crash safety devices and self managed control systems, will eventually see certain types of car insurance cover disappear!

Writing on the company Car Insurance blog, spokesperson Dave Healey predicted an authoritarian view of driving in the near future, with external control mechanisms interacting with onboard cars systems to ensure an orderly controlled and planned future of motoring.

Mr Healey argues that recent innovations in security systems render all new cars virtually theft proof, and that the only thefts of modern cars are through negligence with keys.

“The guys at Thatcham who decide the insurance ratings groups for new cars on behalf of the ABI (Association of British Insurers) and the Car Insurance Companies, have known for a long time that people are being charged more for premiums than the risk warrants for theft.” said Mr Healey.

“Despite all the talk about crash for cash and whiplash and solicitors referal fees being the cause of higher car insurance premiums, these are not the things that drivers as individuals are getting rated on when they compare car insurance quotes and covers. The main factor in the price that people are paying for their car insurance is where they live! Their Postcode, or to put it correctly the rate for their postcode theft area.”

“This is just one example of where car insurance has yet to catch up with modern times”.

You can read the full article at

New Technologies Could Reduce Car Insurance Premiums

Car Insurer Says Technology Could Eventually Make Car Insurance Extinct is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Classic Car Insurance Companies use new DVLA data to devise specialist covers

Performance Car Insurance — Fri, 01 Jul 2011 21:16:59 +0000

Newly Released DVLA Statistics aid UK Classic Car Insurance Companies

A new website that uses data extracted from the DVLA and shows just how many cars are registered in the UK by make and model, is being used by classic car insurance underwriters to asses claims values, target markets and produce specialist schemes.

FOR IMMEDIATE RELEASE

PRLog (Press Release) – Jul 01, 2011 – Ever wondered how many Bugatti Veyrons there are registered in the UK, or how many of those old Austin Seven’s that your Grandfather drove are still in existence?

Well the answers are now just a click away thanks to a new website that uses data extracted from the DVLA and shows just how many cars are registered in the UK by make and model.
The release of the data is already proving invaluable not just to owners or prospective classuic car buyers, but also too interest groups such a classic car clubs, car dealers, car manufacturers, parts suppliers, valuation services and not least, classic car insurance companies who are using it to target customers, qualify agreed valuations of classic cars and produce specialist niche cover and schemes

The site www.howmanyleft.co.uk allows members of the public to enter the details of any car make or model. The site instantly shows how many cars ot that type are registered at the DVLA and whether they are currently being driven on the roads or are off road under a SORN.

For each make / model and variation of, it is then possible to drill down to to see how many cars are still registered, sorted by year of first registration. The site contains historical data of all cars registered in the UK from 1994.

Dave Healey, head of classic car insurance at online specialist car insurance comparison website Car Insurance TV which allows owners to compare classic car insurance quotes from a range of specialist schemes said,
” The release of this data and the easy access to which it is available on the website has provided UK insurance companies with invaluable insight into the size and dynamics of not just the UK motor industry, but of the risk pool itself and our exposure within it. It is also an invaluable tool for the public in assessing the value of their classic car.”

“When taking out a classic car insurance policy one of the most important considerations for a client is to agree the value of the car with the Insurance company. This ensures that you’ll get the full agreed value should the worst happen and your car is written off. Otherwise you will just receive market value.”

“However the release of the survival data has led many of our customers to question the value of their car. Once they have realised that it one of the last of a line, many have approached us to alter their agreed valuations in the light the scarcity factor.”

“If you’ve been sitting for years on a classic car bubble-wrapped up in a garage, that you only get out on the road a couple of times a year and keep renewing your classic car insurance policy annually, do you really know its true value?”
” It could well be uninsured given the scarcity factor and the recent demand to own classic cars as investment vehicles. We would advise all classic owners to have their car revalued on an annual basis.”

“We are also using the registration data in product development, underwriting new business, claims and loss adjusting. For example, when devising a new specialist car insurance scheme we have access to additional data that tells us the size of the national risk pool and the size of the risk pool that would only require a limited mileage policy because they are under SORN.”
Mr Healey added, “Obviously we wouldn’t waste our time devising aspecialist car insurance product for a make or model where there are only a few surviving cars.”

“We are also currently analysing the data to see the effect of the UK Government’s car scrappage scheme upon the car risk pool. We can also use the data to determine our proportion of the current risk pool by car make and model, which will help us in creating cheaper quality insurance cover and schemes for both classic cars and the complete range of current models.”


Issued By	:	Car Insurance TV
Phone	:	0800 089 0182
Zip	:	EC4 1AA
City/Town	:	City
State/Province	:	London
Country	:	United Kingdom
Categories	:	Classic cars, Car insurance, Automotive
Tags	:	classic cars, car insurance, classic car insurance, Compare Classic Cars, classic car registrations
Last Updated	:	Jul 01, 2011
Shortcut	:	http://prlog.org/11567753

Classic Car Insurance Companies use new DVLA data to devise specialist covers is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Insuring A Classic Mini

Performance Car Insurance — Sat, 25 Jun 2011 14:15:57 +0000

Another useful guide to getting the best value car insurance for your Classic Mini. First published at the Car Insurance Blog

Classic Mini Insurance

The range of classic Minis from a basic 850 all the way through to a Cooper S means that insurance rates tend to reflect value and performance. Consequently depending upon the Mini you own you could pay as little as Group 5 rates or as much as Group 15. The costs of insuring a Mini either Classic or new, have always been tempered by the high availability of parts and low repair costs making cover easily available to most people.

Young drivers who are particularly attracted to Minis can benefit from one of numerous specialist schemes that have been set up over fifty years to cater for those Mini Drivers without experience. Do not expect young driver cover for a Cooper S to be cheap though!

Classic Minis were made up until 2000 so they still appear on the ABI present day car insurance rating tables, as well all now qualifying to be covered under a much more suitable classic car insurance policy. This means that you can purchase Mini cover from both insurance comparison websites as well as specialist car insurance brokers. If you have any unusual driving requirements or don’t fit the mainstream criteria for car insurance comparison websites, try a Mini Insurance specialist.

All minis are different and under a classic car insurance policy that has been specifically designed for Mini Drivers, you get to agree with the insurer what your particular classic is worth. Expect a nasty shock if you write off your Mini under a standard policy and make a claim. You will only be entitled to the book value at the time of the incident.

With so many classic Minis still on the UK roads and available to buy at very reasonable prices, you can presently pick up a R reg 1997 Rover Mini with one previous owner and only 40000 miles on the clock, for under £4000, so we asked our classic car expert Dave Healey to have a closer look at the car and what is available…….

One of the most recognised and plagiarised car designs in the World, immortalised in films such as The Italian Job, the Mini became an icon of British design during the swinging sixties in London and around the globe.

The Mini was the brainchild and end product of a two year research project by the chain-smoking Sir Alec Issigonis for the British Motor Company (BMC) started in 1957 and launched to an astounded public in 1959.

The Mini was born out of economic necessity and demonstrated the differences in the mindsets of US and British car owners at the time.

In America, multi-laned freeways were springing up everywhere and the 1950′s was a time of indulgence in classic muscle cars and massive engined saloons. Fuel and economy was not a consideration.

However in Europe the mindset and zeitgeist was totally different, with the first two lane UK motorway not opened until 1959.

In 1956 petrol rationing had been reintroduced in the UK due to the Suez Crisis. When Egyptian leader General Nasser shut the Suez Canal, Britain’s largest oil supplier of the time, Burmah Oil, which operated out of Persia, had to find alternative and much longer routes.

Demand for sales of small economic to run cars soon outstripped supply and this gap was filled by the famous two seater ‘bubble cars’ and other strange machines of German origin like the gull winged doors on the three wheeled Messerschmitt Kabinenroller (cabinscooter) KR175 and KR200.

Against this background, BMC commissioned Issigonis to come up with a world-beating small car to replace its aging Morris Minor, a previously untested idea.

The Mini’s ingenious concept and design meant it offered a staggeringly large amount of interior space for what was essentially a 10 foot long car. The short wheelbase meant the Mini was extremely maneuverable and the car only weighed just 587 kg.

When Issigonis set to work he imagined an ultra compact cube to house four passengers, fronted by a space-saving front wheel drive system. However in a flash of genius he positioned the engine transversely across the engine well with the gearbox underneath it, to keep the drive-train super compact and outside his cube, and in doing so he invented the transverse engine.

The prototypes were fitted with a 950cc Morris Minor engine which could reach speeds of 92 mph, but the production car was first released with a more limited 848cc BMC engine that had a top speed of 72 mph.

Every available space was utilised in the design of the BMC Mini.

The car had tiny ten inch wheels in very tight wheel arches. Inside the car was basic with novel storage drawers in the doors but nowhere to put a radio on a small dialled facia. Issigonis did however include an ashtray!

Issigonis couldn’t have possibly known that his cube car would go on to be voted in 1999 the second most influential car ever built, behind the Model T Ford.

BMC launched the first Mini Mark 1 in August 1959 under the brands Austin Seven Mini and Morris Mini Minor. They were manufactured at the respective Austin and Morris plants at Longbridge in Birmingham and Cowley down the road in Oxford.

The basic Mini cost just £496 when it was launched, the cheapest car in Britain.

Despite rapidly developing a cult following, and the car being driven by Stars such as Steve McQueen, Paul McCartney and Margot Fonteyn, initial sales were extremely slow and by the end of 1960 only 116,000 Minis had been sold, way below BMC’s production capacity.

The car didn’t reach its peak sales for another eleven years when in 1971 318,475 new Minis were sold.

It was also rumored by competitors Ford that the basic BMC Mini cost more to produce than it was sold for.

BMC responded by saying that the profits were made by having additional extras to the basic model, such as a radio, but on inspection the records show that the Mini did not make a profit for the company until 1982.

As a nationalised company with considerations of employees and trade unions, coupled with the investment in technology, BLMC as BMC became, could not halt a slightly loss making production.

So Mini production continued until 2000 and over 5,380,000 cars were built, making the Mini the most successful all British car ever made.

Classic Mini Insurance

It is now a simple process to compare Mini Insurance online. Here at Car-Insurance.tv you can get a quote from over twenty five specialist Mini classic car insurance schemes.

Insuring A Classic Mini is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Compare Classic Car Insurance Quotes Online!

Performance Car Insurance — Fri, 24 Jun 2011 22:14:54 +0000

Car Insurance comparison websites are no longer the sole preserve of the new car owner. Inrecent years many specialist and specialty classic car insurance companies have offered their covers online. Its now possible to compare quotes from many of the specialist schemes but you should be aware of the difference in classic and standard car insurance covers before you to compare car insurance.

How to Compare Classic Car Insurance Quotes for Premium Savings

By now most people are familiar with and indeed have used a car insurance comparison website on the Internet at some point in time. Depending upon how advanced the software at the price comparison website, most users would have had a different experience of and consequently opinion of how useful the site was in obtaining them the ultimate goal, that is cheap quotes and cover.

Some will have had good experiences, most likely those that did some research before probably just searching for a term such as car insurance on the first device in front of them. It is highly likely that satisfied customers of a quote comparison website narrowed down the plethora of choices available before comparing, to those websites that specialise in comparing policies for particular types of cars or young driver cover. This is particularly true for those seeking to find competitive classic motor insurance to cover their pride and joy.

If you own a classic car it is essential that you have specialist classic cover in place, if you want to benefit from the classic policy key features. These are essentially those elements of cover that you will not find on a standard policy and this is the main reason why you don’t find many specialist schemes for classic car insurance on the mainstream price comparison websites.

Therefore it is what differentiates a classic insurance policy from standard cover that you need to look at carefully when comparing quotes for classics on comparison sites.

When comparing classic car insurance policies or quotes make sure that you compare the following items which are standard risks for most classic policies.

1) The difference in benefits for limiting your mileage.

2) The rates charged for agreed valuations.

3) Whether Classic policy benefits such as Rally Cover are included as standard or charged extra.

4) The amount of premium discounts for being a member of a classic motor club.

5) The amount of premium discounts for limited time cover.

6) The amount of premium discounts for garaged classics.

Specialist classic vehicle comparison will still need to collect most of the information that is required by a standard price comparison site, and this will of course determine the levels that you are quoted. You must therefore still make the same comparisons as you would on a mainstream site, such as varying premium quoted by adjusting the excesses or deductible, in addition to the classic risks mentioned here.

Fortunately for the Classic owner there are now quite a few specialist car insurance websites on the Internet. in the UK the largest is Car-Insurance.tv which allows you to compare classic car insurance quotes from over 100 schemes and polices designed for classic cars. It certainly pays to visit a specialist car insurance comparison website when it comes to claims. Under a classic policy you will benefit from original spare parts and the comfort of knowing that only someone who knows what he is doing fixing your car

Compare Classic Car Insurance Quotes Online! is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Classic Mini Insurance

Performance Car Insurance — Wed, 22 Jun 2011 20:50:27 +0000

Insuring a Mini has always been cheap and remains so today. After all the classic Mini was the cheapest car on the road in its day and is the most produced British car ever, Consequently parts and labour are ubiquitous, and the costs of claims repairs reasonable. The Mini in its basic form is in the low insurance group 5.

Even today with the redesigned BMW Mini insurance cover remains very competitive. The 140 mph Cooper S is only rated in middle rated Thatcham insurance group 14. Car Insurance for classic minis is best bought online from a specialist provider such as Car-Insurance.TV.

With a specialist classic car insurance policy designed for Minis you’ll get all the extras that a classic Mini insurance policy has to offer such as guaranteed valuation for replacement, limitage mileage discounts and additional discounts offering cheap insurance if you are a member of the Mini car club of GB. So what is all the fuss about the Mini.

We asked classic car insurance expert and classic Mini enthusiast Dave Healey to tell us some more about this incredible little car……

Classic Cars – The Mini

The Mini is of the most recognised and plagiarised car designs in the World, immortalised in films such as The Italian Job, the car soon became an icon of British design during the swinging sixties in London and around the globe.

The Mini was born out of economic necessity and demonstrated the differences in the mindsets of US and British car owners at the time.

In America, multi-laned freeways were springing up everywhere and the 1950′s was a time of indulgence in classic muscle cars and massive engined saloons. Fuel and economy was not a consideration.

However in Europe the mindset and zeitgeist was totally different, with the first two lane UK motorway not opened until 1959.

Against this background, BMC commissioned Issigonis to come up with a world-beating small car to replace its aging Morris Minor, a previously untested idea.

Every available space was utilised in the design of the BMC Mini.

Issigonis couldn’t have possibly known that his cube car would go on to be voted in 1999 the second most influential car ever built, behind the Model T Ford.

The basic Mini cost just �496 when it was launched, the cheapest car in Britain.

The car didn’t reach its peak sales for another eleven years when in 1971 318,475 new Minis were sold.

It was also rumored by competitors Ford that the basic BMC Mini cost more to produce than it was sold for.

As a nationalised company with considerations of employees and trade unions, coupled with the investment in technology, BLMC as BMC became, could not halt a slightly loss making production.

So Mini production continued until 2000 and over 5,380,000 cars were built, making the Mini the most successful all British car ever made.

Dave Healey is a specialist motor underwriter who has been underwriting Classic Mini Insurance since his career began. Is is now a simple process to compare Mini Insurance online, as there are many specialist classic car insurance providers who offer exclusive Mini Insurance schemes.

Article Source: http://EzineArticles.com/?expert=Dave_Healey
http://EzineArticles.com/?Classic-Cars—The-Mini&id=6366154

Classic Mini Insurance is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website

Classic News – The E-type Jaguar is 50 Years Old!

Performance Car Insurance — Tue, 14 Jun 2011 15:08:52 +0000

Jaguar E-Type Classic Car Insurance Is Fifty Years Old

by Car Insurance Blog on June 14th, 2011

Happy fiftieth birthday to all surviving E-Type Jaguars from Car Insurance Blog! I wish I owned a Mark 1 roadster in British Racing Green!

The fashion icon of the sixties and perhaps the most admired machine of British style and design since Mitchell’s Spitfire, is 50 years old today!

Although the E-Type was only in production for just 14 years, there’s an incredible amount of these adored production cars still out there around the World today, although if you want to possess one the price tag is somewhat higher than the modest £800 that the iconic car first fetched back in June 1961.

The 1961 fixed head coupe version of the E-Type was the fist 150mph hatchback!

At car-insurance.tv we think we’ve got the best provider of Jaguar Insurance Schemes and Jaguar Classic Car Insurance, and if sales are anything to go by well, our Jaguar car insurance sells more policies than any other brand!

Test drive a Jaguar Insurance Quote or compare jaguar classic car insurance quotes today!

Classic News – The E-type Jaguar is 50 Years Old! is a post from Performance Car Insurance - The UK's High Performance Car Insurance Website