EU bans insurers from sex discrimination

Insurers will soon be banned from using an applicant’s gender to determine the price of their policy, following a ruling from the European Court of Justice. From December 21, 2012, companies providing car insurance and other policies will no longer be allowed to factor in the sex of a potential customer, even if that makes them statistically more likely to claim.

One of the most obvious changes will be that women will no longer pay lower car insurance premiums than men.

Most commentators believe that men’s premiums will not fall by as much as women’s will rise. The British Insurance Brokers’ Association (BIBA) estimates that the ruling will mean women will typically pay up to 25% more for their cover.

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Switching home insurance providers can save money

A report by insurance comparison website Confused.com has revealed that homeowners in the UK are losing out on hundreds of pounds by not exploring possible savings from switching their home insurance provider .

It was found that people owning their own homes could save in total up to GBP1.7 million each year if they shopped around for improved deals on home insurance and moving to a new provider if they offered better terms that currently being received.

The findings show that homeowners are losing out on an average saving of GBP96.43 a year if they found improved terms on buildings and contents insurance policies .

Homeowners admitted that the main reason they did not investigate switching insurance provider was they believed the hassle of doing so would outweigh the cost savings achieved, with 19 per cent of people taking part in the survey responding that this was why they did not switch. Read more…

Insurance Tip for the Week: Understand What You Need to Know Before Changing Your Life Insurance Policy

If you are approached by a life insurance agent and asked to consider canceling your current life insurance policy in order to purchase a replacement policy there are a few things you should know first. Learn how to understand the changes that may affect your life insurance policy and the warning signs to watch for.

Secure Your Home While You Travel

With all the excitement of a vacation or trip, it’s easy to forget what you leave behind until it’s too late. There’s nothing worse than remembering to lock the garage when you’re on a beach 1,000 miles away. Plan to protect your property and pick up the correct travel insurance so you have complete peace of mind on your travels.

Make it look like you’re still at home – get a friend to collect mail, purchase timers for inside and outside lights, and arrange for someone to mow the lawn or shovel snow in winter.

Turn off the ringer on your telephone or unplug the phone if you don’t have an answering machine. Check with yo

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Drivers pour £1.7billion down the drain

If your car insurance policy comes up for renewal in the next few weeks, don’t automatically accept the quote from your existing insurer – or you could end paying much more than you need to. The new ’11′ number plates are due out on March 1, making it one of the busiest times of the year for car insurance renewals.

Millions of people stick to the same providers without shopping round for a better deal.

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Essential Preparations for Your Trip

The better prepared you are, the smoother your travel. A bit of time spent in preparation for a trip abroad – from booking travel insurance to mapping your route – can pay dividends in stress reduction and time saved for enjoying yourself.

Check your insurance needs and purchase international travel insurance for your trip. Remember Medicare and Medicaid, and private insurers, do not usually cover you for trips abroad. Choose a plan including emergency assistance, prescription drugs and repatriation coverage.

Leave copies of your passport, insurance documents, credit cards and itinerary at home or with a trusted friend or relative. If something goes wrong it’s easier for them to help you out. Take

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Motorists turn to more fuel efficient cars as car insurance costs rise

Motorists are being hard hit with rises in car insurance and petrol and many are thinking of choosing a more fuel efficient car when they next buy one.

According to research carried out by moneysupermarket.com, almost 50 per cent of those questioned believe that they will purchase a more fuel efficient model next time as they try to save money on motoring costs. Around 10 per cent said the price of car insurance will have a direct bearing on which model they buy and some people said that they will be using public transport instead as driving has become too expensive.

Pete Harrison, car insurance expert at moneysupermarket.com commented: “With prices on the up it is more important than ever drivers ensure they are shopping around for the best deals on insurance, those who do will reap rewards and make their hard earned cash go further.”

The comparison site also warns drivers not to get involved in fronting? Read more…