Archives for September 2013

Benefits of the In Car Black Box

Learning to drive is an investment, there are lots of hidden costs and expenses that need to be covered in order to earn that all important driving licence. The cost of lessons, tests, theory examinations soon begin to add up and it doesn’t end once the driving test has been passed. The next step is too cover the cost of the car, road tax, maintenance and most importantly the cost of insurance premiums that will offer a form of protection should an accident happen or any damage is done to the vehicle. Having insurance is a legal requirement and NOT something that can be avoided simply because it is too expensive, instead there are different methods that can bring down the cost of insurance however slight. Additional driving qualifications and an in car black box from companies such as ingenie.com , are the most effective ways to save as much money as possible. The in car black box is a piece of technology which is easily and discreetly installed into any vehicle to monitor the way someone drives in the hope of bringing down the cost of insurance and help new drivers to iron out any flaws or bad habits they may have which will have a direct impact on the insurance premium.

The bigger the risk the driver is considered to be, the higher the cost of the insurance.

The black box is the answer young drivers have been looking for and here is why…

Lower Insurance Premiums

Insurers appreciate the value of the black box and see it as a sign that drivers are making a serious attempt to improve the quality of their driving and ultimately bring down the cost of insurance.

Less Likely to Have an Accident

The black box stores data regarding the way a person drives and regular reports are received with any concerning areas. The driver can then continue to grow in confidence whilst on the road and will be more aware of any elements that could lead to an accident.

Safe Drivers are Rewarded

Drivers that have made no or very few claims on their insurance are not seen as a risk and are rewarded with falling insurance premiums every year they continue to drive safely.

Safer for Other Road Users

Young drivers are a hazard at times, they can lack confidence and be unsure of the rules in each situation, if they are receiving regular reports on where they are going wrong they will rectify this which will greatly benefit other road users.

Safer for Pedestrians

For much the same reason as above, there will be a greater focus on the people and drivers around them and young drivers will amend their driving skills accordingly. The reports will allow them to understand how their driving affects others.

Evidence

If the worst should happen and an accident occurs, the black box will provide evidence to say who was at fault. It will be able to collate the data leading up to the crash for the one vehicle and determine the likelihood of who was at fault.

Red Driving School Road Safety Infographic

Driving safety lessons from RED Driving School

How to Protect Your Lifestyle

Income protection cover

Whatever we might wish to otherwise be the case, the reality of modern life is that an income is necessary to survive.

It may be that you take for granted your income and what it provides you with, such as the ability to pay your mortgage, household bills, food, clothing and children’s expenses etc.

However, there are three things that might quickly and unpredictably remove your ability to earn income for yourself and your family’s needs:

  • accidents;
  • sickness;
  • compulsory unemployment.

In any of the above circumstances, you may find yourself unable to work and therefore obtain income.  Financial difficulties might follow very rapidly unless you have taken steps to protect yourself through an income protection insurance policy of a type offered by Drewberry Insurance and others.

The cover provided

There are a number of options available to protect your income and the basic principles of such policies are very straightforward.

There are short term options, such as income payment protection insurance that offer cover against forced redundancy, sickness and accident. These typically run for between 12-24 months of you being unable to work, or of you being unemployed.

Longer term income protection policies can run for a number of years – up until retirement age – and cover inability to earn an income due to accident or illness. Redundancy is not covered by this type of policy.

How do they work?

If you experience unemployment or the inability to continue working due to an insured risk, then presuming the conditions of the policy have been met, the provider will commence paying you a monthly income at a specified level.  That would continue until you are able to return to work or reach the maximum pay out duration period as specified by the policy which with long term policies could be your normal retirement date.

Of course, this type of cover is meant to protect you against circumstances under which you could have had no reasonable degree of control.  So, as you might imagine, it will not make payments in situations where you have been responsible for events including typically things such as resignations, criminal activities, career breaks and so on.

Is such cover necessary?

It is possible that your employer will have some form of accident and sickness scheme in place.  If so, you may need to inspect it closely to understand both its benefits and limitations.

Typically though, full salary levels are only paid in the event of accidents and sickness up to a limited number of weeks.  After that time, the percentage of salary paid may diminish rapidly until quickly reaching zero.

You may find that such protection would not be able to offer you a relatively normal financial life for more than a short period of time. 

The standard government social help in such situations is also typically extremely limited.  Many people may find it extremely difficult to survive based upon that help alone.

Could it happen to you?

Official figures for 2012 show a total of approximately 595,000 redundancies alone across the United Kingdom.

Of course, some of those so affected may have found alternative employment relatively quickly but these figures also clearly do not include those who were unable to work due to accident or sickness.

The bottom line is clear – losing your income or seeing it substantially reduced is not something that only happens to others nor is it rare.

That’s why it might make sense to find out more about the different variations of income protection insurance available sooner rather than later.

Where Do You Go For a Service or Repair?

Sometimes there’s just no way around it, you need to get some repair work done on your car. General wear and tear damage can lead to more significant problems so it’s often best to nip them in the bud where possible. No matter how important the repair work is, it’s always best that you take your car to a mechanic that you trust.

The question is, how do you know if you can trust a mechanic if you’ve never had to visit a centre for that make of vehicle, such as a Volkswagen service centre, and how do you know that you’re getting the best price? It really is a case of not knowing until you give it a try sometimes, but there are a number of measures you can take to ensure that you’re going to the best people for the job.

One such measure is to speak to trusted friends and family members who may have visited that mechanic previously and find out about their experiences, or you can take to the Internet and try and find some reviews to see how other people got on. You’ll need to find out about the quality of the workmanship, the level of service received and also about the value for money because you certainly don’t want an over-the-top price and sub-standard work.

As you may be without a car for a period of time, whether it’s a matter of hours or a couple of days, it’s worth finding out where the repair or service centre is in relation to your home or work. You may need to arrange alternative transport during that time through family, friends or colleagues and you will also have to get back to the centre to collect the vehicle.

You should also speak to the mechanics rather than a receptionist to get the full detail on the work required and what has been done. A good quality mechanic will explain in detail – but in language you can understand – what needs doing, how long it will take and what was done; and they will also listen to you and your concerns over the job and what you would like doing. For instance, if you only want or can afford a routine service, don’t let them convince you to have further work done that you neither need nor can afford.

Finally, make sure you get a number of quotes and that they all include the cost of labour. Many initial quotes will only include the cost of the parts required to complete the work that can be misleading as you can budget for that price only to have more slapped on top that you might not have been expecting. Also, compare your quoted price with another centre to find out if you’re getting the best deal going – you don’t want to be paying any more than is necessary.

Euroferret.com is owned by Mediamash (NI) Limited, who are an Introducer Appointed Representative of Seopa Ltd. The quote system is owned and operated by Seopa Ltd, who are authorised and regulated by the FCA, number 313860. You can view our registration at www.fsa.gov.uk/register/firmSearchForm.do?sid=127135. We do not give financial advice on this website. If in doubt get professional advice and always read the policy information before purchasing an insurance contract.