Hire Car Costs Driving Up Insurance Prices?

Sticking with the motor insurance theme it a news story on the BBC website caught my eye. In a move welcomed by the Association of British Insurers (ABI) it appears that the Competition Commission is going to be conducting a report into the motor insurance industry after the Office of Fair Trading (OFT) deemed it a 'dysfunctional' sector. The OFT stated that artificially high hire car and repair charges were contributing about £225,000,000 to motor insurance across the country.

You'll find more on this story at: http://www.bbc.co.uk/news/business-18268650

Is it a bird? Is it a Plane? Is it a border-line celebrity in a sparkly car? 

Today's blog might be seen to be poking fun at the ridiculous but it actually makes a serious point (actually it is also a little bit of fun poking). Well known for being 'tanned' and from Essex, Billi Mucklow of TOWIE* fame has been seen (how could you miss it) in a completely jeweled car.

What is my serious point then? Well I imagine this is a publicity stunt and she doesn't in fact own said car but if she did I wonder whether she has declared the modification to insurers. This would be a material fact which the insurers would need to know about. Modifications will sometimes make a vehicle more theft attractive or give it a value beyond the market value. In Ms Muckow's case if her travelling sugar lump of a car was involved in a collision she might find herself facing the bill for the bling herself or worse she may end up with the insurers refusing to pay out for any of her damage because of non-disclosure of material fact.

So whether you've been handy with the prit-stick and a load of plastic crystals or whether you have splashed out on alloys, sign-writing on your van, spoilers, upgraded suspension make sure you inform your insurers.

For any other insurance related motoring advice or indeed advice on what not to do to your car please do not hesitate to get in touch.

Alistair

*TOWIE - 'Popular' television show 'The Only Way is Essex' where everything is reem and orange.

source - Daily Mail Online http://www.dailymail.co.uk/tvshowbiz/article-2151694/TOWIEs-Billi-Mucklow-Cara-Kilbey-hit-road-car-encrusted-81-000-crystals.html

Lost and Hopefully Soon to be Found

The Insurance Times reported today that Zurich are offering a £25,000 reward for the safe return of a historical artifact. The piece in question is one of the rarest complete examples of metalwork in the country dating back to the 1400's and usually resides in The Stockwood Discovery Centre a museum in Luton. It is inscribed with the words 'My Lord Wenlock' and carries the relevant coat of arms, It's conection with Royalty makes it all the more topical with the Jubilee weekend approaching.

Zurich who insure the piece have come out declaring that its "... no just about writing a cheque. Ultimately Zurich want to assist the museum's efforts to get the jug back where it belongs, and so that it can be enjoyed by future generations".

Lets hope the Jug turns up and in one piece and certainly not on ebay next to the all the Olympic torches.



Alistair

Not so Fair-weather for Fairweather 'Fun' Running

Last (chilly) Sunday a stalwart team of runners and 'helpers' attended the bi-annual Gerrards Cross Fun Run. The run is organised for local charity and it's for that reason that Fairweather Insurance were pleased to be he principal -shirt sponsor this year. In addition to providing munetory support some of our staff here were keen to make their bid for Olympic selection by running the 5km route in record time. Sadly Lord Coe didn't call so it looks like no-one will be getting their team GB call up just yet although some respectable times were run with Neil Hume (on secondment to the 'Fairweather Flyers') leading the pack with a time of 24:39.

With smoothies on hand our intrepid runners soon recovered to represent Fairweather at our very own stand where we were delighted to welcome members of the local community who might have the odd Sunday afternoon insurance query.

We really enjoy serving the community both with insurance requirements, charity work and in support of organisations such as the Community Library. So if you want to 'keep it local' why not call us, email us or run (or saunter) along to the office with any of your personal or commercial insurance needs and / or questions.


TTFN

Alistair

Phone Plus Water = No Phone

A recent study by Insurance Times magazine has revealed that there has been a phenomenal increase in claims for water damage to telephones and similar devices. I found this of particular interest having had to claim twice, once for an incident concerning me, my iphone, a cup of tea (also mine) and a collision between the two. The second also concerns me, my macbook, he washing up (not all mine) and the collateral spillage caused by my enthusiastic washing up.

The lesson is really that you should not rely on the insurance provided by the phone companies and networks as often it will exclude water damage. Similarly if relying on your device being insured under the home contents or work insurance policy remember that often they need to be noted individually to be adequately covered. If you have a work mobile check whether you are meant to be insuring it or if it is already insured by the work policy. Contact your provider and get some proper advice.

Remember this simple formula

Unless of course you have the appropriate insurance in place in which case all will be well (minus your policy excess of course).

Alistair

Going swimming? Don't forget your teeth. 

Our Aviva insurance circular didn't disappoint this week with its 'funny claim' although I would go so far as to say that it is mildly tragic as opposed to amusing. A more mature gentleman was on holiday in Florida and was taking a dip when his wife (who had fallen asleep on he beach) had her bag stolen. Unfortunately in the bag was the gentleman's false teeth which he had placed there for safe keeping.

I suppose it was soup for dinner that night.

(Photo for illustrative purposes only)