News
Car insurance ‘shock’ as premiums rise 40%
A STARTLING surge in car insurance premiums has left British motorists reeling, as the average cost of coverage now stands at a staggering £776 – an alarming 40% increase over the past 12 months alone. This unsettling revelation comes to light following the latest car insurance price index for Q2 2023, powered by WTW, which analysed over 6 million quotes.
These astronomical price hikes have catapulted car insurance into the ranks of the three most expensive household bills, trailing only behind council tax and energy expenses. For the average UK driver, council tax sets them back £984 annually, while energy costs come close at £964, further burdening household budgets.
Nevertheless, amidst this financial turmoil, there remains a glimmer of hope for drivers seeking solace. Surprisingly, some individuals have managed to save money by diligently comparing and switching insurance providers. Research conducted by Confused.com reveals that motorists who shopped around and switched insurers in the past three months saved an average of £63. Regrettably, only a mere 9% reported receiving a cheaper renewal price compared to the previous year.
The experts at Confused.com attribute these escalating prices to a surge in claims and the consequential rise in the cost of processing such claims. The resulting unprecedented increase in car insurance costs can be largely attributed to this surge in claims.
To mitigate the financial burden faced by drivers, Confused.com has issued valuable advice on how to reduce car insurance costs. Additionally, the survey highlights that 40% of Brits are calling on insurers to play a more active role in keeping prices at a manageable level.
Delving further into the data, male drivers are experiencing even more pronounced price hikes, with the average premium now standing at £827. This reflects a substantial 40% increase over the past year and an 18% increase over the last quarter. In comparison, female drivers are paying £690 on average, marking a 40% increase year-on-year and an 18% increase over the quarter. This discrepancy places the average gap between genders at £137.
Location plays a critical role in determining insurance costs, with some drivers now facing premiums over £1,000. Outer London witnessed a substantial 42% increase in prices, resulting in an average premium of £1,003 – the first time it has surpassed the £1,000 mark since the index’s inception. Inner London remains the most expensive region in the UK, with the average driver paying a hefty £1,257.
Unsurprisingly, car insurance prices have risen across all regions, though some areas still experience considerably lower costs. The South West boasts the most affordable average insurance cost, reaching only £509, despite a 36% increase over the past year.
Moreover, age plays a pivotal role in determining the financial burden on drivers. Younger drivers, aged between 17 and 19, face the brunt of these price hikes, paying more than £2,000 for their policies on average. Among this group, 18-year-olds bear the highest costs, with an average premium of £2,404. In contrast, drivers around retirement age enjoy the most favourable prices, with 69-year-olds paying an average premium of just £413.
These variations in pricing can be justified by assessing the risk profile of different demographics. Factors such as claims frequency, location, and age all contribute to the variation in insurance costs. For instance, male drivers typically face higher risk profiles due to driving more miles and owning more expensive cars. Consequently, they are exposed to a higher risk of claims, leading to higher premiums.
To ease the financial strain on motorists, Confused.com offers several ways to potentially reduce insurance costs without altering driving habits significantly:
Accurate Mileage: Driving fewer miles can lead to savings on car insurance, as higher mileage often translates to increased accident risk and claim likelihood.
Voluntary Excess: Increasing the voluntary excess can result in cheaper insurance, although it is essential to ensure affordability in the event of a claim.
Annual Payments: Paying for insurance annually rather than monthly can be a cost-saving measure, as insurers typically charge interest for spreading costs throughout the year.
Enhanced Car Security: Improving vehicle security can lead to reduced premiums. Installing Thatcham-approved car alarms, immobilisers, and using secondary security measures like steering locks all contribute to lower insurance costs.
Amidst this challenging financial climate, Confused.com’s motor expert, Louise Thomas, emphasises the importance of shopping around for the best insurance deal. The competitive industry offers the potential for substantial savings, making switching a wise move for cost-conscious drivers. To incentivise this, Confused.com guarantees to beat renewal quotes or compensate customers with the difference plus an additional £20, providing drivers with peace of mind and financial relief.
Entertainment
Newport Winter Wonderland is the ideal treat for the family this Christmas holiday
THERE is still a chance to attend the Newport Winter Wonderland and experience a magical winter experience. Located next to Friars Walk Shopping Centre (NP20 1UH), the festive attraction opened its doors on Thursday, November 21, and will run until Sunday, January 5, closing only on Christmas Day and Boxing Day.
Visitors can look forward to a real ice rink under cover, ensuring skating fun whatever the weather. Alongside the rink, a large Christmas funfair offers thrills and entertainment for all ages, while stalls serving various Christmas foods promise festive treats to keep everyone warm and satisfied.
For those looking to unwind, a fire pit provides a cosy spot for roasting marshmallows, and a licensed bar offers seasonal drinks to enjoy. Entry to the Winter Wonderland is free, with tickets required only for specific attractions.
Families can also meet Santa Claus himself, making it a perfect outing for creating cherished holiday memories.
For more details, including ticket bookings and opening hours, visit www.newportwinterwonderland.co.uk.
Make sure to wrap up warm and head down to Newport Winter Wonderland for a truly festive day out this Christmas season.
Festive fun: Newport Winter Wonderland features an ice rink, funfair, and Santa Claus (Pic: Herald).
Crime
Arrest after fatal Carmarthenshire hit-and-run
A MAN has been arrested following a fatal hit-and-run collision in Llanpumsaint, Carmarthenshire, on Monday (December 23), which claimed the life of 38-year-old Aaron Jones.
The incident happened near Caer Salem Baptist Chapel between 6:45pm and 7:45pm while Aaron was walking his dog. Police said the vehicle involved, a blue car with noticeable damage, was travelling northbound through the village at the time of the collision.
Dyfed-Powys Police confirmed that the vehicle believed to have been involved has now been located, and a 27-year-old man has been arrested on suspicion of causing death by dangerous driving, failing to stop for a collision, and failing to report a collision.
Specially trained officers are supporting Aaron’s family, who have asked for privacy during this difficult time.
A spokesperson for Dyfed-Powys Police said: “We are appealing to anyone who may have seen the vehicle or has dashcam footage from the area during the relevant times to contact us immediately.”
The road remains closed while investigations continue, and residents can expect an increased police presence in the area.
Anyone with dashcam footage, doorbell camera recordings, or CCTV footage from the area is urged to check their recordings and contact Dyfed-Powys Police immediately using the details provided in the comments.
Community
Lord Nelson Hotel refunds lucky couple the full cost of their wedding day
WHAT an amazing Christmas present!
In an extraordinary gesture of generosity, the Lord Nelson Hotel delighted one lucky couple by refunding the full cost of their 2024 wedding. Abby and Simon Hooper, who tied the knot at the historic venue on August 3, were thrilled to learn they were the winners of this year’s giveaway.
The initiative was part of a special promotion open to all couples who celebrated their weddings at the Lord Nelson in 2024. The winners were selected through a random draw using a fair generator system, with the Hoopers emerging as the fortunate recipients.
The hotel has announced plans to continue the tradition in 2025, offering next year’s couples the same opportunity to win their wedding costs back.
A spokesperson for the Lord Nelson Hotel said: “If you’re planning to get married in 2025, it’s not too late to book with us and secure your spot in next year’s draw.
“We are thrilled to celebrate love and create moments to cherish, and this is just one of the ways we give back to our incredible couples.”
Known for its elegant venue spaces and exceptional wedding team, the Lord Nelson Hotel remains a top choice for couples seeking a perfect wedding day. This annual giveaway further cements their commitment to delivering unforgettable experiences.
Abby and Simon Hooper shared their gratitude after their special day: “From start to finish, the team at the Lord Nelson Hotel was incredibly helpful, and nothing was too much to ask.
“The day went smoothly, the food was fantastic, and the staff were polite, hardworking, and attentive. Mia and Jenna, in particular, stood out for their thoughtfulness and attention to detail.
“We couldn’t have asked for a better experience.”
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