Archive for March 2011

iPad 2 Sells Out In Twenty Four Hours

March 29, 2011

The second generation iPad 2 sold out within twenty four hours of its release in UK stores. Queues formed outside the Regent Street store the day before sales began.

The short supply of iPad 2s may be a deliberate marketing ploy used to make initial ownership more exclusive. The original iPad also sold out rapidly and there were shortages of the tablet computer for months after their release.

A less cynical explanation for the shortage of tablet computers is that there have been component shortages due to manufacturing disruptions, caused by the Japanese earthquake.

One reason for the iPad 2’s popularity is that the starting price for a basic model is thirty pounds cheaper than the cost of the first generation computer.

When purchasers are spending so much money on their computers it is advised that they obtain gadget insurance to protect them against loss, theft or damage.

Your Duty Of Care To Your Pet Should Make You Consider Pet Insurance

March 24, 2011

There are a number of duties associated with keeping a pet; training, grooming, maintaining its healthy diet, worming, inoculating, neutering, and paying the vet’s bill. Four of these duties can cost you as a pet owner an awful lot of money, therefore it is prudent to consider pet insurance.

If a dog suffers from kidney failure, treatment will cost almost one thousand pounds. More complex treatment can cost many thousands of pounds.

This explains why people are interested in pet insurance; although the premiums are not cheap it could take the sting out of footing a major bill.

It is harder to insure large dogs as their life expectancies are often shorter than those of small dogs. Insuring an old dog is also difficult as age inevitably leads to increased susceptibility to illnesses that may require ongoing treatment.

Have You Recently Passed Your Driving Test? Need Insurance? That will Be £33,000

March 24, 2011

Seventeen year old Jake Redshaw from Salford bought an old Vauxhall Corsa having passed his test earlier in the 2011. The Corsa was a deal at £3,000 but his first quote for car insurance came to £33,000.

The quote was offered by the AA insurance service. The company later claimed that an error had been made: The cheapest quote Jake was given was for £5,700. The AA has released a statement that explained that the average quote for a young male driver was around £2,750.

Insurance companies are pricing young people out of the market. Statistics reveal that only 12.0% of drivers are aged between seventeen and twenty-four but they are responsible for 30.0% of road accidents.

As insurance companies’ premiums have risen new measures are being taken to lower premiums. A “black box” can be installed in your car to monitor your driving. Some will find this technology invasive but low insurance costs may come at the price of your privacy.

Mobile Phone Networks Brought To Heel By New Regulations

March 16, 2011

The cost of calling a mobile phone from a landline or another mobile network can cost the bill payer a sum that is out of proportion to the real cost incurred by the network. The actual cost of handling an incoming call is less than a penny per minute yet some networks charge over four pence per minute.

Ofcom has ordered that mobile phone networks cut their “termination rate” by 80.0%. By 2014 the cost of these kinds of calls will fall by more than three pence.

Mobile phone networks have expressed their unhappiness with the Ofcom ruling which will cut their profit margins. The price of buying a handset and pay-as-you-go deals may be made more expensive in order to make up the shortfalls.

Although this ruling is a victory for consumers it is a small one: Mobile phone companies have said that charges will go up in other areas to prevent losses.

More And More Families Facing Debt Problems

March 15, 2011

The Consumer Credit Counselling Service (CCCS) has warned that falling incomes and increasing numbers of redundancies are leaving many families in debt as they cannot pay their bills or mortgages.

Living costs have continued to rise while many incomes have flat-lined; families simply are not earning enough to support themselves. Some commentators have argued that the debt ridden life styles of many families were unsustainable and now the crunch has come.

The situation for some families will only worsen at the start of the new tax year when the threshold for the 40.0% tax rate is lowered. Research has shown that those families with two children who can only spare £62.00 a month to repay their debts will the most vulnerable demographic.

The chairman of the CCCS, Lord Stevenson released the following statement: “The picture is undoubtedly bleak and it seems likely that many more families, including better-off ones, will be increasingly prone to over-indebtedness in the months ahead”.

Record Breaking Earthquake In Japan Causes Insurance Shares To Drop

March 11, 2011

An earthquake measuring 8.9 on the Richter scale struck Japan this morning causing insurance stocks to fall.

There are considerable fears that large insurance companies will have to make bumper payouts to cover the costs of the disaster. Shares in Munich Re fell by 5.0%, Swiss Re and Hannover Re were both down by more than 5.0%.

Munich Re has already been hit by another natural disaster. The Christchurch earthquake in New Zealand caused the insurance firm to pay out more than $1 billion in damages.

There are fears that aftershocks will continue to cause damage for the next day or two. Throughout the day images of the tsunami sweeping through parts of Japan have been broadcast on international news. It is difficult to assess the extent of the damage until rescue workers have got on the ground but this can only start when the area is deemed to be relatively safe.

Car Insurance Firms Are The Cause Of Increasing Insurance Premiums

March 11, 2011

Car insurance firms are causing insurance premiums to rise by fostering a “compensation culture” according to MPs. An investigation by the Transport Select Committee has found that insurance firms are paid referral fees for giving lawyers the details of people involved in accidents.

Insuring a vehicle is already expensive but the increasing number of injury claims year on year serves to raise prices. A situation where an insurance company encourages litigation is not only self serving but also could result in people staging crashes in order to make false claims.

The Transport Select Committee found that more than 40.0% of personal injury lawyers paid insurers or claims management firms to find more work for them.

Louis Ellman, the Transport Select Committee’s chairman argued that the public should be made aware of the money moving round the insurance industry when a claim is made.