Motoring News » Car Finance

The Craziest Car Insurance Claims

admin — Thu, 25 Nov 2010 12:00:13 +0000

When it comes to car insurance claims, there are a number of accidents/collisions that insurance companies regularly have to deal with. These ‘standard’ car insurance claims involve things such as people failing to stop in time and hitting the car in front of them, people reversing their car and colliding with a static car/object or people losing control whilst driving, causing damage to their car and other surrounding cars/objects .

However, not all car insurance claims are that straight forward. There are plenty of claims made that verge on comical. Whilst the drivers of the vehicles may not find their claim particularly funny, those not involved in the collision often do see the funny side. Money Supermarket looks at some of the wackiest and weirdest car insurance claims that motorists have made.

Worryingly, these claims are all genuine! Click on the graphic below to read about some of the craziest.

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Two million drivers not insured on the UK roads

Alan — Sat, 31 Jul 2010 20:56:48 +0000

Every driver on the road is required to have some type of car insurance, but yet there are around two million drivers that are not insured on the UK roads. This is usually due to the fact that premiums are too expensive to afford, or the driver simply does not want to bother with choosing a policy.

However, Car Loan 4U has a new plan that offers drivers a Car Loan 4U car insurance plan that is provided from some of the top 50 insurers from across the UK such as A&L, Zurich, and Norwich Union.

Those who are looking for a car loan can also find gap insurance at Car Loan 4U, which guarantees that if you are in an accident in which your vehicle is written off and your car insurance company does not pay you enough to cover your loan amount, the gap insurance will cover the void.

Thus, you are actually insuring your loan finance to ensure that you do not get stuck paying on a car loan for a car that no longer is in your possession.

Another available insurance is mechanical breakdown protection which can help out if you wake up one morning and cannot get your car to start or if it breaks down while you are on the road. It also includes free towing if the problem is not something that can be quickly fixed or repaired such as a dead battery or spark plug replacements.

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Gocompare car insurance

admin — Thu, 08 Jul 2010 14:22:26 +0000

The largest and most reliable of car insurance comparison companies in the U.K., according to the independent consumer information website MoneySavingExpert, is gocompare car insurance. This is an online organization with the capability of comparing both prices and features of various insurance policies offered by different companies with the aim of helping consumers make informed decisions about their car insurance.

The company, based in Newport, South Wales, was founded in 2006 and has grown considerably from a base of about 40 comparison companies to more than one hundred.

The fact that it focuses more on specific features of each policy rather than just prices led to Gocompare being invited to join BIBA (the British Insurance Brokers Association).

Gocompare has since won various awards for excellence, including the Fast Growth Business Award for ‘One to Watch’ in 2008 and the Investors in People award in 2009.

Hayley Parsons, the founder and CEO of Gocompare, has received several awards in her own right. She got the South Wales Chamber of Commerce ‘Women in Business’ award in 2009, and she won in the ‘Business Leader’ category of the 2010 Inspire Wales Awards.

Her philosophy regarding the Gocompare site is based on the belief that consumers want and need to have an unbiased, independent source of information that will save them time and eliminate confusion in their search for the most affordable and comprehensive insurance.

Overall, the Gocompare site has established itself as highly secure and accountable to consumers. The company has adopted the latest security technology from Internet Certification Authorities, insuring that users are protected from the various risks of identity theft and phishing attacks.

They also have possibly the most advanced computer network and correlation ability in their field, enabling the user to specify exact requirements and get a thoroughly researched synopsis of exactly what a policy offers. At the same time the Gocompare search can identify and compare specific prices for each feature and give a realistic quote for each individual policy.

Gocompare attempts to maximize its ease of use by offering a simple form that the consumer fills out online. It then compares the features and rates of about 110 car insurance companies using its trademark five star rating system to compare each company’s record of consumer satisfaction. Users can get a preliminary quote from as many companies as desired, with no charge from Gocompare, so the total final quote is the same as it would be if the user had gone directly to that company.

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Car finance and debt

admin — Thu, 04 Feb 2010 13:35:11 +0000

If you are thinking of buying a new or second-hand car, but you don’t currently have enough money saved up to do so, you may be considering car finance.

To put it simply, when you buy a car ‘on finance’, you are basically buying a car using a loan. This means that you will be taking on debt, which must be repaid.

Right now, though, the downturn means many people are struggling with their debts, so it’s particularly important that before you take out a car finance agreement (or any form of credit), you are certain you’ll be able to repay it. If you are unsure about this, or would like more information about debt, you could contact a debt management company and ask for some advice.

Entering a car finance agreement

You may be asked if you would like to enter a car finance agreement when you are buying your car. And if you need to borrow money in order to afford your car, you may well say yes.

Affording your monthly repayments

If you do enter a car finance agreement, you have to be certain that you’ll be able to afford your monthly repayments – after all, you would be taking on debt!

But the question is… how can you be sure that you will be able to afford your payments?

Well, no-one can guarantee that their circumstances will stay the same forever – but there are some steps you can take to help make sure you have enough money set aside for your car finance payments each month. For example, you could create your own budget.

Create a budget

Creating your own budget can be an effective way to make sure you have enough money set aside each month for your debt repayments.

To create your own budget, simply total up everything you earn each month, followed by everything you spend each month (on your essential costs – such as mortgage/rent payments, utility bills, food, etc.). Now you have these two totals, you will need to subtract your expenditure from your income.

This will leave you with your disposable income. Your disposable income is basically the money you have each month to put towards your unsecured debts (such as credit cards, car finance payments, overdrafts, etc.) – and if there is any left after doing this, for saving and/or non-essential spending.

To make sure you have enough money each month to cover your car finance payments (and any other unsecured debts you have, of course), simply compare your disposable income against the amount you are required to pay towards your debts.

If you have enough, you should be fine. However if your disposable income falls short of the amount you require, you should take immediate action. Seeking advice from a professional debt management company could be a good place to start.

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