Month: May 2012

Motor and gap insurance cover abroad?

The sun has finally started to make an appearance, just in time for the Jubilee celebrations, but as more and more of us start to plan out trips abroad how confident are you that your motor and gap insurance will still cover you? With almost guaranteed sunshine  just a stones throw away more and more of us are now choosing to holiday by car and motor home in Europe. You have motor insurance, you even have gap insurance so what can go wrong? Before you plan any trip abroad it is always worth checking that you are completely covered as some motor and gap insurance policies will limit the amount of days you can spend outside the UK in any one trip.  Even if your gap insurance policy does not limit your time if you own motor insurance does you may be left high and dry. This can of course be the other way around where there is no limitation on time with your own motor insurance but your gap insurance provider stipulates a time frame. This is normally a maximum of 60 days. While this may be sufficient in most cases remember that if you are planning to tour then it can soon be eaten up. We Googled gap insurance and found that in 99.9 % of cases there was a time specified on the policy. We did...

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Motorbike Vehicle Replacement Insurance

What is motorbike vehicle replacement insurance what does it do and how can it help protect you? We already know the importance of motorbike gap insurance and how it can protect you should you motorbike be written off. In most cases you will have been offered a form of retrun to invoice gap insurance from your motorbike dealership and while there is nothing wrong with this level of cover there is one fundermental flaw! The world of motorbikes is as fast and dynamic as the bikes themselves with manufacures constanly upgrading, mnodifying, changing specifiactions all in the hope of tempting you to buy another muct have motorbike. This means that over time the prices of motorbikes increase. Combine this incraese with other factores such as rates of vat, manufactures costs, labour costs and transportation and it means that should the worse happen even if you have protected yourself with a form of gap insurance you may still find that there is a shortfall. Let me show you exactly what I mean. Lets say that you bought a Kawaski Ninja ZX 10R three years ago and paid £10450. You motorbike has just been stolen and your own insurance company pay  you the market value of the bike which for illustartion purposes is £6600. You where however wise and protected yourself with return to invoice gap insurance which now tops you...

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Under the Influence of Drugs and Behind the Wheel?

We all know that driving while under the influence of alcohol is illegal but what about drugs? I was very surprised to hear that even though “drink driving ” has been both socially unacceptable for a long time and carry’s legal implications, driving while under the influence of drugs is only just becoming a legal criminal offence. New hand held devices which are being trialed will mean that as well as being requested to take a breathalyser at the side of the road you may also be asked to provide a sample of saliva for a new drugs detection system. The relevant bodies are still testing and revising the drugs detection systems which are set to be available towards the end of 2012. There are however concerns by some members of the governing bodies as certain drugs leave the system very quickly while other popular and sometimes classed as recreational drugs can remain our system for a long periods of time. We think that in principle this could be a fantastic solution to keeping unsafe drugs fueled drivers off our roads. The drug related offence also carries an automatic driving ban of at least one year, plus a potential six months in prison as well as  ordered to pay a penalty of £5,000. Mike Penning said: “Drug drivers are a deadly menace – they must be stopped and that...

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Who should Buy Gap Insurance?

Is gap insurance just for people who have bought their vehicles using a form of finance or can anyone buy gap insurance? Gap insurance as we know protects you against out of pocket expenses when you vehicle is written off.  The problem is that most members of the public still think of gap insurance simply as a form of finance gap. This means that in some cases people who have bought there vehicles with a cash payment do not think that they need to buy gap insurance. So who should buy gap insurance? Anyone you has bought a vehicle under 10 years of age can buy gap insurance.  After all the risk is the same weather you bought your vehicle on cash or finance? You still have the same risk of your vehicle joining the ranks of the other 600,000 vehicles written off in the UK each year. So really anyone can buy gap insurance. That is anyone who does not want to have to be liable for any out of pocket expenses. Remember that without any form of gap insurance if your vehicles is written off you are still liable for the difference between your vehicles valuation and The outstanding finance? Or the outstanding rentals Or the invoice price your paid Or the replacement cost of a like for like vehicle the same age mileage and condition as...

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Government Promise Insurance Changes!

The government has sometime understood the public’s  annoyance of motor insurance price rises caused as a result of  fraudulent claims and the whole profit makes business’s which surround them. The was a meeting held on Wednesday, Chief executives from many major insurance companies and government ministers attended in which the government at least promised tougher action against the UK’s whiplash claim’s  culture. Aftre all this costs us all millions of pounds each year. They discussed  such as making it easier for insurance companies to be able to turn down fraudulent and un-fair claims. They also discussed providing help for doctors to correctly identify whiplash. After all whiplash and back pain is one of the hardest medical conditions to prove. The claim culture is nothing new and has been around from some time. We hope that this will not become a witch hunt. After all insurance is there to protect you should the worse happen. That said stopping fraudulent and un fair claims would mean lower policy premiums for us all. Insurance companies are business’s and they will naturally absorb some loss’s but over time the sheer volume of claims being made has compounded the price rising we have all experienced. So lets hope that the ministers, government bodies and insurance companies reach a balance of interests which still allows protection but discourages over zealous claims. Why not let us know how...

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