The largest insurer in the UK, Norwich Union, has suspended what had been described as a ground breaking form of car insurance that used a black box to track every journey.
The idea was to set premiums based on the risks faced by drivers. This would mean that drivers avoiding rush hour or late night driving would pay less for their car insurance. Norwich Union cited a slow take up of the idea and too few customers as the key factors for withdrawing the car insurance scheme.
There has also been a certain amount of mistrust from drivers regarding the black box. Having every journey monitored is not what Britain is about and there could be situations where a drivers Norwich Union car insurance policy could be negated if a vehicle was seen to be speeding at any time, or even have the data passed to the police. All in all most people feel the withdrawal of the black box idea is a good result and hope that it will not see the light of day again.
According to a new survey by Liverpool Victoria motorists are finding car repairs too difficult to undertake with modern cars.
Around 33 percent of drivers find the lights and information on their dashboards confusing, while some 75 percent feel that, in the event of a vehicle breakdown, they would be unable to repair the car themselves. Such is the way with modern cars that almost 50 percent of people in the Liverpool Victoria survey have no idea what is under the bonnet, since they rarely if ever open them.
The results of the survey highlight firstly the need for breakdown cover since most car drivers need that roadside assistance and also that car insurance cover may well become more expensive as items are not repaired but replaced.
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Endsleigh Insurance is warning homeowners that getting repairs and home improvement work done by non-approved people can mean home insurance is not valid, leaving the consumer unprotected.
Should the design or workmanship of a home improvement project be below the typical standard, or if unsuitable materials or tools are used, Endsleigh Insurance will not pay out for any claims made. They, along with many other insurers, will also refuse to pay when structural modifications that have been done on a DIY basis, lead to a buildings insurance claim.
The view of the insurer is that they are basing their premiums on the perceived risk of the property as described. If this changes, through a home improvement project for example, the insurer, be it Endsleigh home insurance or any other, needs to know about it, and to what standard it was done, so they can re-evaluate the risk profile.
