Latest Car Insurance Trends

With gas prices constantly rising, hybrid cars have become feasible alternatives to automobiles that run on regular fuels. Hybrids have been shown to have a higher fuel efficiency because of the electric motor, hence greater gas mileage. While mileage varies from one car model to another, hybrids get more miles per gallon compared to other vehicles in the same range. The best incentive is perhaps the auto insurance discount. Some companies offer up to 10% less on auto insurance premiums for a leased or purchased hybrid. Travelers auto insurance gives this 10% discount, as well as other discounts and credits in most of the states. Policyholders can get additional savings by signing up for homeowners insurance with Travelers as well.

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The IAM Motoring Facts 2008 is a compendium of data related to motoring in the UK. It was compiled Bert Morris and Dr Kit Mitchell. Here are a number of interesting findings from the report.

• In 2006, 80 percent of the 33.4 million vehicles on the road were cars.
• Half of the cars are over five years old
• Deaths and injuries on Britain’s road are falling
• Drivers over 70 are safer drivers than drivers under 30
• The average weekly spending by British households on motoring is £63.40 and £9.90 on other modes of travel
• Britain has the third lowest death rate in Europe, after Sweden and Holland

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Older drivers can shop around for cheaper car insurance policies that are available to them. Drivers over 50 should have discounts on their premiums. The longer you’ve been driving claim-free, the greater your discount. Specialist insurers like Senior Car Insurance UK allows the no claims bonus to remain for a small fee to offset a given number of claims.

Lower mileage per annum means lower insurance costs. The car type also matters, as certain older makes and models are less prone to theft and have lower repair costs. Sometimes it is also not worth getting comprehensive or collision cover for certain cars. Installing safety features might also be a good idea, as are group or corporate discounts from former employers.

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The summer months are here again and it’s time to bring the family across the country in an RV. Robin Williams’ 2006 film may not be the most realistic model for your cross-national park holiday, but there are a few truths to be gleaned from that movie. One is that many things can go wrong on a trip, and two, you need to spend quality time with your family. So, what to do? Take out specialized RV insurance and have peace of mind while traveling with your loved ones. Insurance for motor homes is not quite the same as regular vehicles because of the various accessories, appliances and even plumbing that is in the RV. Even fifth wheels and travel trailers are built differently and require a different insurance policy. Look up RV insurance and enjoy your summer.

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The Motor Insurance Repair Research Centre, also known as Thatcham because of its location in Thatcham, Berkshire (England) was established by British Insurers in 1969 to conduct research related to motor insurance claims. They are known for testing security systems and crash testing motor vehicles. They also train insurance engineers and repairers.

Thatcham groups security systems into five categories: electronic alarm and immobiliser, electronic/electromechanical immobiliser, mechanical immobiliser, wheel locking devices, and after-theft systems for vehicle recovery. Having a combination of approved devices in these categories is ideal for theft prevention and recovery. They could likewise lower your insurance premium. Ask your insurer about it.

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The search is on for the winners in this year’s British Insurance Car Security Awards given out by the Automobile Association, UK Department for Transport, Home Office, and Thatcham, in cooperation with insurers and other organizations concerned about vehicle safety. Vehicles subjected to the British Insurance Industry’s New Vehicle Security Assessment and rated according to the New Vehicle Security Ratings qualify for the awards, which are given out in 12 vehicle categories. In addition, awards for Manufacturer and Innovation are also given out. Last year’s big winners were Audi and Citroën. We’ll see if they can replicate their success this year.

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According to the UK’s leading road safety charity, the Institute for Advanced Motoring (IAM), almost 70% of drivers in Advanced Driver coaching through their Skill for Life programme were significantly safer drivers. Insurance companies also give nine out of ten IAM members lower premiums. IAM Associates also enjoy discounts on AA services and issues of their magazine. Enrolment in the programme sets a maximum of penalty points on the driver’s license. Though the Skill for Life programme is run by volunteers who get the drivers ready within a period of 12 to 16 weeks, a more expensive Fast Track option exists for those with much less time.

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Not only are car insurance costs lower for women, they also receive other benefits, that perhaps men do not enjoy, particularly through women-only car insurance companies that have sprung up in recent years. These free services include handbag cover for a bag and its contents, confidential counseling after a traumatic incident, a courtesy car while repairs are being done, window etching to deter against theft, and unlimited windscreen cover. It’s definitely a great time to be a female driver! Interestingly enough, these insurance companies have also diversified into home and travel insurance. Could gender specificity be the face of insurance in the future?

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