Car insurer LV= has revealed that following recent research, almost one in five drivers has either purchased a more economical vehicle or sold their second or third family car since the onset of this global credit crunch.

Whilst more than half, (61%) changed their vehicle to save on fuel, surprisingly, nearly a third (29%) said they changed their vehicle to save money on their insurance premium.

It appears therefore that more are concerned with surviving the current economic downturn than saving the planet, as their research suggests roughly one in eight (15%) made the change for environmental reasons supporting greener driving initiatives, which must surely be of concern to the Government.

Two thirds said they couldn’t afford to buy a brand new car and nearly half (43%) of people taking part in the research that are looking to replace their car in the next 12 months indicated that they intend to buy a second-hand vehicle.

The seocnd hand car market therefore looks set to prosper for the time being, and for those who prefer the larger vehicles, you may be able to find a real bargain.

Remember however that you will be paying premium road fund licence rates and higher car insurance premiums, but if you really are a fan of the big motor, it is worth it.

With the car industry struggling globally, and UK manufacturers cutting back in their production plants, the impact is resounding across many smaller businesses that rely on the associated anciliary work and helping to fuel the current increase in unemployement.

Even so, whilst sales in new cars has fallen dramatically, some may be surprised that the second hand market is experiencing a bit if a renaissance.

Prices for second hand motors have been dropping steadily, more or less in line with falling house prices ,which has not gone unnoticed by car insurance providers.

Whenever you watch a TV channel which is permitted to advertise, you will see one of the comparison websites maketing their products.

In response, direct car insurance companies appear to have stepped up their marketing activity to ensure they maintain their market share.

Some motor insurance markets however seem to continue ot be able to sustain growth; one of them being that of the Classic Car.

With cars as young as 10 years old now qualifying for classic car insurance rates, providing the mileage is limited, it is certainly worth having a look at some of these insurance providers when your car insurance policy comes up for renewal.

Classic car insurance policies often provide improved cover against a standard car insurance policy because they calculate price on the actual vehicle and against an agreed valuation, rather than the market rates.

And get up to 20% online discount.

That’s what is on offer from Kwik-Fit Insurance.

December 2008 saw Kwik Fit Insurance report its best performance for that month in a decade and was very pleased that their strategy seems to suit the current economic conditions.

Having written almost 18,000 new policies, sales of new motor insurance policies in December was 12.5% more than the same period in 2007.

The Free MOT offer is worth £44.95 and available to any customer buying a new private car insurance policy. It can be redeemed at any of their UK Kwik Fit MOT Centres.

Although the MOT offer is not valid in Northern Ireland and there are of course cancellation and deferral terms and conditions applicable, such an offer will prove attractive, particularly given it is usually an insurance policy condition that insured vehicles are kept in a roadworthy condition when being driven and it is an offence under the Road Traffic Act to drive a car on public roads without a valid MOT.

The named Kwik Fit Insurance Policyholder will be entitled to one Free MOT test at a Kwik-Fit MOT centre for the vehicle insured they insure.

The offer is valid for one year from the date the car insurance policy commences.

It is important to note that only one MOT test is free and any repairs or servicing in connection with the MOT must be paid for.

If you have been involved in an accident and sustained losses, it is important to comply with the insurer you are claiming from to assure the smooth processing of your claim.

You will greatly increase your chances of successfully claiming if you take the following steps immediately following the accident:

• Ensure you contact the police in the event you or any other person involved in the accident has sustained an injury. If you are unable to make the call, get someone else to do it.

• If you are the driver or insurer of the vehicle, report any injury resulting from the road traffic accident to your insurance company.

• If you are a passenger in a vehicle and are injured in a road traffic accident, get confirmation in writing from the insured driver that the insurer of the vehicle has been informed.

• If you were driving a company vehicle, ensure notify your employer.

• Make every effort to record all expenses incurred as a result of the accident.

• If you are self-employed, keep evidence of any income that is lost as a result.

• Ensure you report any injury (even if it seems trivial to your doctor because the full extent of the injury may not be immediately apparent.

• If you subsequently go to court to get compensation for the injury, the initial medical report will provide evidence to support your claim.

• Gather evidence about both the accident and your injuries. Take photos if possible.

• If the driver is not insured, or you are a victim of a hit-and-run accident you still may be able to obtain compensation from the Motor Insurers’ Bureau.

Following their acquisition of the Equity shop network of IAG (Insurance Australia Group Ltd), Swinton now have the largest high street presence of all insurers across the UK.

Not sitting back and waiting for business to come to them however, they are proactively continuing to push for more business and is currently offering several cash back offers on car insurance through various sales network operators.

Swinton customers purchasing car insurance direct, on-line, can secure £40 cashback by quoting the voucher code “PMSWDI508.”
 
This promotion offers good enough reason for customers to consider Swinton for their car insurance needs and with more than 3 million home and car insurance customers supported through more than 500 offices following the acquisition of the Equity Shop Network, a much valued face to face customer service is assured.

However, Swinton customers obtaining a quote and purchasing their car insurance policy through comparethemarket.com will benefit from an even bigger cashback offer.

As long as your car insurance policy is taken out through comparethemarket.com between 06/03/2009 and 06/06/2009 and is still in force 90 days after the start date of your policy, you can claim £70 cashback. Terms and coditions that apply and a quote can be obtained by clicking here.

Simply complete the cash back form you will be sent by email following the purchase of your policy, and return it within 30 days to:-

Swinton Motor Cash Back Offer
Marketing Department
Swinton House
6 Great Marlborough St
Manchester
M1 5SW

Simply then sit back and wait for your £70 cheque.

It is pretty much everyone’s nightmare to find themself involved in an accident.

Today’s “living” pressures offers little room for time consuming unplanned events but to ensure any car insurance claims run smoothly, some of the following tips make be of use.

Firstly, remember, it’s only a car; the welfare of the people involved in the accident should take immediate priority.  Call the police and ambulance services if someone is injured.

Circumstances permitting, immediately after the accident, make sure you:-

• Remain calm
• Obtain full details of the other drivers involved including:-
• Their name(s), address and telephone details
• Their insurance company and policy number if it is available
• The make, model, colour and vehicle registration numbers
• Get the name, address and contact details of any witnesses
• Write down the circumstances surrounding the accident – the time,   weather conditions, road conditions (whether some traffic control system was faulty etc.)
• Get the name, address and contact details of any witnesses
• Notify your own insurer.

It may help your claim if you are able to get photographs of the accident and damage to any vehicles involved. This information could prove important if liability is disputed and possibly vital, if the claim ever went to court.

Even with the police agreeing with your version, if there were injuries involved, establishing the extent of the injuries can take time. The insurer will need to understand the long term affects of any injuries you sustained and it is in your interests to let them do so.

This is not to say, they can drag it out for ever and a day. Stay persistent but remain calm. You will achieve nothing by antagonising those very people that decide on the amount of any settlement.

Where injuries are involved, it is prudent to seek legal advice.

Many insurers now include the option of including such cover at renewal but for others, you may need to sign some kind of declaration with the legal advisor that agrees to take your case on whereupon, you agree to reimburse their costs if they do not succeed or cannot recover all of their fees from the other person’s insurance company on winning the case for you.

There are also an abundance of solicitors that will take on cases on a no win, no fee basis, but again, make sure you understand the arrangement before signing up to it.

Hopefully, if you are unfortunate enough to be involved in a non-fault accident, it is resolved before your insurance policy is next due for renewal otherwise your no claims bonus could be affected until the matter is resolved.

Don’t lose heart however as your insurer will reimburse your NCB and any surplus premium you paid at renewal when/if the claim is resolved in your favour. 

A big challenge for young drivers is purchasing car insurance without having to rob the “bank of mum and dad” to pay for it.

Men and women aged 17 to 25 face an almost insurmountable struggle to obtain cover for numerous  reasons.

Many insurance companies do not even want to provide quotes to people in this age group, no matter what type of car, and those that do, do not really want to, so they quote a rate so high that many young drivers will find themselves paying more for insurance each year than the value of the vehicle.

Statistics however support insurers decisions as a teenage driver is up to 3x more likely to be fatally injured in a traffic accident than someone in the 25-64 age range.

While such statistics cannot be argued against, insurers branding all young drivers with the same brush does nothing to encourage such drivers to insure their vehicles leading to more and more taking a chance and driving around without the necessary legal minimum requirements.

It would be good to see some intervention or sensible thinking applied by insurers and the Government to address what is tantamount to unfair victimiisation of the young.

After all, young drivers involved in accidents and found to be at fault that do not carry the mandatory insurance requirements will often result in claims through the Motor Insurance Bureau (MIB).

And who is legally obliged to contribute to MIB? – the insurance companies of course!

Nobody wants to be involved in car accidents and we all try to avoid them but periodically, car drivers find themselves caught up in accident of some kind. Hopefully they are only minor incidents involving minor damage to the vehicle or third party property.

But, in the event of a person meeting with the accident and incurring damages whereupon they have to lodge a claim with their own insurer or against the person at fault’s insurance company, the hassle can begin.

Not knowing how to proceed is the first and probably the hardest obstacle to overcome. After all, it takes time, and involves completing forms and pursuing insurers for progress. Everyone wants their claim resolved immediately. In fact, their claim is the only one they are concerned with – who cares about all the others feeling the same way. You want your car back.

So, first bit of advice is to recognise that you are not the only person the insurers are having to deal with – don’t be too impatient. Yes, it is fine to chase them for progress but if you are insured on a third party fire and theft basis, be aware that the other person’s insurance company is going to want you to jump through a few hoops and prove their customer was indeed at fault.

They will want their customer’s view of the accident before admitting liability and the police, if they were called to the scene.

In today’s environment, the car is becoming more of a “must have” rather than a “luxury” and following an accident, it is reassuring to know that your insurance provider offers a replacement vehicle.

One of the UK’s prinicipal providers of replacement cars in such events is  Helphire Group plc.

Helphire is one of the UK’s leading providers of motor accident management services including vehicle replacement and repair management, full claims handling assistance, uninsured loss recovery and personal injury management.

Insurers are now watching Helphire very closely following recently posted £59.3 million pre-tax losses for the second half of 2008. This was not good news considering they posted a pre-tax profit of £19.4 million for the same period in 2007, showing yet again how the economy is affecting everyone at the moment.

Most of their replacement vehicle services are provided on credit to motorists who were involved in non-fault accidents and whilst Helphire are obviously planning to restructure their banking arrangements and look to raise more operating capital through a share issue, insurers have been warned that the Bath based company is going to start pursuing recovery of their costs more vigorously from insurers by increasing their litigation activities.

Helphire also work closely with insurers to provide those all too valuable replacement vehicles which many insurance companies now offer their comprehensive car insurance policyholders.

Helphire operate through a network of six call centre sites and 30 branch locations. ir recent announcement firm closely.

 
Last month Helphire revealed plans to axe 130 of its 1,100 jobs