Register | Login  | Bookmark | Search 

Latest News

  • The rise in car insurance premiums is mainly due to a rise in personal injury payouts, according to a spokesman for the Association of British Insurers.
    More...

  • Motorists have been warned that car insurance premiums could be significantly affected by drink driving convictions.
    More...

  • New laws aimed at cracking down on careless drivers come into effect on Monday.
    More...

Financial News

MoneyExpert.com - Floods prompt £100m of car insurance claims - 07/08/2007

Car insurance claims as a result of the recent flooding are expected to total £100 million, according to the AA.

The insurer and breakdown service adds the consequences of the wet weather could send "shock waves" throughout the second hand market. It states that flood-damaged vehicles could potentially make it undetected onto the market and is warning those looking for a new car to be "extra vigilant".

To help people guard against buying a suspect car, the AA has offer a range of advice. This includes that motorists should check the carpets inside the vehicle for damp and to check if the windows are steamed up - which is a warning sign of damp.

Ian Clark, operations director for AA Vehicle Inspections, said several mechanical problems could be present in cars that have been caught in the floods.

"Catalytic converter and exhaust system life can be seriously reduced, wheel bearings could seize, brakes could be affected and alternator and starter motors could fail," he explains.

Last month, NFU Mutual announced that is was fast-tracking insurance claims for vehicles that had been written off by flood damage.


track© Adfero Ltd