December 2nd, 2021 | Andrew Hagger | News

New research from Checkatrade has revealed that a staggering 6.7 million UK adults have been impacted by a rogue trade over the last year.

Increasing demand for tradespeople, Brexit and the ongoing raw materials shortage have placed a huge amount of pressure on the home improvement industry, creating the ideal environment for rogue trades to step in and take advantage.

This perfect storm has caused 1 in 3 UK adults to put off home improvement work for fear of hiring a rogue trade. Seeking to help homeowners fight back on this fear and stamp out rogue trades for good, Checkatrade has launched a new microsite – the ‘Eliminating Rogue Trades Hub.’

Mike Fairman, CEO, Checkatrade said, “Checkatrade is renowned for stamping out rogue trades. For 22 years we’ve made it our mission to eliminate the cowboys – we won’t stand for poor workmanship, overcharging or pressuring homeowners in undertaking unnecessary work. In fact, in the last three years alone we have removed almost 5,000 tradespeople from our platform who failed to keep up our high standards.

“We’re proud to help homeowners connect with reputable, checked trades – but if you’re one of the 1 in 5 people who would consider using an unverified trade, beware that it’s not as easy as you might think to spot the cowboys from the good guys. The arrival of the ‘Eliminating Rogue Trades Hub’ is part of our ongoing goal to protect homeowners – and stop cowboys in their tracks.’’

Rogue trade watch outs

Electrical (21%), roofing (21%), building (20%) and plumbing (20%) have been found to be the most common home improvement work affected by rogue trades. With 55% of people not confident they can spot a cowboy from a verified trade, Checkatrade share their key watch outs for homeowners:

• Be wary of high availability: Some unverified trades will take advantage of busy periods or moments of crisis such as extreme weather. Read reviews, and ensure trades are vetted and qualified to undertake the requested work.
• Be careful of cheap quotes: If the cost seems too good to be true, it most likely is. The cheapest quote is normally only cheaper because it’s been rushed or corners have been cut. Remember, cheap work can’t always be rectified.
• Beware of being asked for full payment upfront: Don’t agree to making full payment in advance of work being undertaken. Get a detailed written quote that includes T&Cs and states what will be covered by the quote – and what won’t.
• NEVER accept work from trades who ‘doorstep’: 44% of people have been doorstepped – but reputable trades will NEVER carry out this practice. Checkatrade has zero tolerance of any member found to be canvassing door-to-door. Never be pressured in to having work done by someone who knocks on your door.

Checkatrade’s guarantee

In addition to the ‘Eliminating Rogue Trades’ Hub’ Checkatrade has recently launched a new guarantee which offers homeowners who book a job via Checkatrade up to £1,000 if their job doesn’t go to plan.

To learn more about Checkatrade and the ‘Eliminating Rogue Trades Hub,’ please visit: www.checkatrade.com/cowboys.

November 25th, 2021 | Andrew Hagger | News

The latest research from over-50s experts SunLife shows that grandparents will spend over £2.6 billion on presents for their grandchildren this Christmas.

With around 5.8 million grandparent households across the UK celebrating Christmas this year, SunLife has revealed that total spend over the festive period will increase by nearly quarter of a billion pounds – and lucky grandchildren can expect to receive £113 worth of presents each.

How much is too much?

As Christmas spending continues to increase year on year, SunLife surveyed over 2,000 parents about their own parents and in-laws – and their views on the gifts that the grandkids receive.

Nearly half (43%) of parents believe that the grandparents spend too much, but a quarter did comment that they can use their money how they like. 11% wish the grandparents wouldn’t spoil the kids, and 7% have concerns they can’t afford it.

However, over half (53%) believe the amount is fine, while 3% even say it’s not enough.

What kids want

SunLife’s research also reveals what the most-wanted presents for Christmas 2021 are – and this year, the older kids are thinking big. Among the top choices for children between 8 and 16 are AirPods, tablets, and smart watches – and brand new for this year are the iPhone 13, e-scooters, and the PlayStation 5.

For those under 8 years old, ambitions weren’t as tech-focused – younger children’s most-requested gifts include story books, animal and Disney figures, crayon sets, and LEGO.

In addition, cash is at the top of older kids’ lists, with 44% preferring it over presents, vouchers, or experiences – and this rises to 57% among teenagers, who would rather choose their own gifts than have someone buy something for them.

The survey also found that a quarter of all kids said they’d received a bad gift from their grandparents at least once, while 14% said it happened fairly often. 1 in 20 say they’ve never received a good gift from the grandparents.

“When you’re a grandparent, you don’t always see grandchildren as much as you’d like, and it can be very hard to know what’s an appropriate gift,” said Ian Atkinson, Chief Marketing Officer at SunLife.

“Perhaps lockdown has made that even more difficult, with less physical time spent with grandchildren than ever before. That’s why every year, SunLife’s Christmas Gift Generator for grandparents is updated with the latest ‘must-haves’, as well as perennial favourites, to help grandparents find the perfect present to go under the tree.”

Find the perfect present

SunLife’s Christmas Gift Generator is a free online tool that makes finding good gifts easier. Just put in the grandchild’s age and interests, as well as your budget, and the handy tool will find the perfect present. And all the results have been voted for by children, the toughest critics of all.

Find the ideal gift for your grandchild now with SunLife’s Christmas Gift Generator.

November 19th, 2021 | Andrew Hagger | News

HSBC UK has teamed up with professional magician Troy von Scheibner in advance of Black Friday (26 November) to highlight some of the tricks scammers will play on shoppers.

Troy von Scheibner said: “As a professional magician, my aim is to entertain using a specialist set of skills. However, these techniques can also be used by fraudsters to fool people.”

As part of HSBC UK’s campaign Troy took to the streets to show consumers how fraudsters are playing mind games on us, designed to gain our trust and pressure. Check out the video here

Black Friday is the perfect time for consumers to grab a bargain, but the dangers of falling victim to a purchase scam grows year-on-year.

Purchase scams –  where fraudsters trick shoppers into paying in advance for goods or services that are never received – are the most common form of APP scam affecting HSBC customers, with 6,218 cases reported so far this year. Purchase scams increased by 17% in August 2021 compared with August last year, although less scams are being reported in the last few months compared to the start of 2021. A total of £6.98 million was reported lost to purchase scams in 2020.

David Callington, Head of Fraud at HSBC UK, said: “Fraudsters can put consumers under their spell and make them think they are giving out personal or financial information for a legitimate reason. If a deal looks too good to be true – it probably is. Use secure payment methods and only buy from sites you trust.

“At HSBC UK, we’re working hard to protect customers against fraud – but there are lots of ways you can help to protect yourself too. By being aware of the tricks fraudsters use you can help keep your money safe.”

How to spot fraudsters’ tricks

• Someone contacts you out of the blue, by call, text or email
• They claim to be from a trusted organisation, like your bank, utility provider or police
• They can sound genuine, as they may already have gathered information about you online
• They often put you under pressure to do something without you having time to think it through properly.
• Calls, texts and emails may appear genuine but their actions and requests are not

Last month HSBC UK warned customers never to disclose their One Time Passcode (the code their prompted to input to authorise a transaction when shopping online) as they reported scams involving suspected disclosed passcodes had risen by 25% in the last six months.

To learn more about purchase scams and how customers can protect themselves, visit: https://www.hsbc.co.uk/help/security-centre/purchase-scams/

November 15th, 2021 | Andrew Hagger | News

Ahead of Road Safety Week, Julian Hartley, Insurance Director at Tesco Bank, share his top tips on how you can stay safe on the roads this winter. Analysis of internal data by Tesco Bank Car Insurance revealed that claims for road accidents jump 8% in the week after the clocks go back and the bank warns drivers to take extra care as the temperature drops

Julian Hartley, Insurance Director at Tesco Bank, said: “It can take a while to get used to  winter driving. Commuting or school runs done in the dark, extra time for de-icing the windows or keeping an eye out for icy spots when the temperatures really start to drop, means that everyone using the roads needs to take a bit of additional care. Giving people extra time and space, making sure you are visible, and undertaking some vehicle maintenance are just a few simple steps that will reduce your risk of a winter collision.”

1. Pay extra attention to other road users

Streetlights can cast shadows on roads, pavements or at road crossings which can hide pedestrians or cyclists. Take extra care on the roads, drive slower around schools and poorly lit areas, and make a conscious effort to double check for cyclists and pedestrians.

2. Leave some extra space

Weak light or glare from the sun can make some colours less distinct in the winter. And wet or icy roads can make braking distances longer. Recommendations suggest you should always allow four seconds between you and the vehicle in front in bad conditions. Leaving extra time between you and the vehicle in front so you have more time to react if you need it.

3. Check those lights

Ensure your lights are in full working order. Not only is it illegal to drive at night without fully functioning front and rear lights, it can also be incredibly dangerous. If you find any bulbs to be faulty, get them changed as soon as possible.

4. Keep windscreen and all windows clean

Dirt can build up quickly on winter roads so pay extra attention to keeping all your windows and windscreen clean. You should also regularly check your screen wash, making sure it is sufficiently topped up before any journeys. In the colder months windows are more susceptible to condensation so make sure you leave time to fully demist all your windows that need it.

5. Make sure your tyres are fit for purpose

With snow fall and ice likely in the coming months, now is a good time to do a tyre check. Check that they are correctly inflated, have good tread and there aren’t any cuts or bulges – this will ensure you’re prepared for all weather types.

6. Pack warm clothes, snacks and other essentials

Making sure you have supplies in the car if you end up stuck in a queue or have an unfortunate breakdown is important any time of year but add to this with some warm blankets and spare jackets in the winter.

7. Avoid driving tired

This applies all year round, but even more so now. Driving tired can put both you and other road users in jeopardy, so if you become tired while driving, stop, take a break and set off again when you feel safe to do so.

8. Take care of your battery

Cold weather can affect the health of electrics in your car, including your battery.  If you are finding that your car is slow to start or makes a whining noise as you turn the ignition, this may be a sign to invest in a new battery. If in doubt, visit a local garage to ensure that your battery is in perfect condition before setting off on your next journey.

November 11th, 2021 | Andrew Hagger | News

• Almost one-third of people said they would rely on their partner’s pension in retirement. This includes 23% of men and almost 40% (39%) of women.
• One fifth (21%) of people were unsure if they would have to rely on their partner in retirement.
• Almost one quarter (24%) of the 18-24 age group said they thought they would have to rely on a partner’s pension while 43% said they wouldn’t. Older age groups were less confident with 36% of 35-44-year-olds saying they thought they would rely on their partner.
• London topped the poll with over half (53%) of people saying they expected to rely on their partner’s pension. This compares to just 23% of people in the North-West.

Survey of 2,000 people carried out by Opinium on behalf of HL in September 2021.

Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown:

“Telling a happy couple to consider their finances in the event of a split is hardly romantic but could save a lot of financial heartache in the long run. While it makes sense for couples to share financial responsibilities, leaving long term planning such as a pension primarily in the hands of one partner could leave you financially vulnerable in later life.

If your partner has a much better pension than you then it is tempting to rely on that rather than build your own, especially if you’re on a lower income. However, if you choose to take this approach, you need to understand the risks you’re taking.

If you’re not married, then in the event of a split, you won’t be entitled to a share of the pension at all. If you are married, then within a divorce, women tend to leave with less than half of the pension. This is often because women will offset it in an effort to keep the family home, especially if they have primary responsibility for the children. However, this could leave them with a massive hole in their retirement finances.

Even if you stay together, you need to consider the practicalities of sharing one income, managed by one of you, especially if you have different financial priorities. Often both of the couple will want the security and independence of their own income.

The figures show women are particularly at risk, with almost 40% saying they expected to rely on a partner’s pension in retirement. This is down to a variety of factors including lower wages, part-time work, and time out of the workforce for caring responsibilities. However, almost a quarter (23%) of men also said they would likely need to rely on a partner’s pension so it’s by no means purely a female thing.

The good news is that younger age groups feel they will not have to rely on their partner so much. Only a quarter of the 18-24 age group said they thought they might have to rely on a partner. However, we need to bear in mind that for many of them, the years where their finances will be severely squeezed are ahead of them. Auto-enrolment means more people than ever will be able to build up a pension throughout their working lives meaning they are less likely to have to rely on anyone else in retirement.”

Tips to boost your pension

1. Increase your contributions whenever you can – we have many different demands on our money but making small contribution increases, for instance when you get a pay rise, can have a big impact on the value of your pension pot.
2. Get more from your workplace pension – while many employers will only pay the minimum contributions for auto-enrolment there are others who will increase their contribution if you boost yours. Over time this can have a significant impact on the value of your pension so be sure to ask your HR department if this is available.
3. Missing pensions – the average person is likely to accumulate several pensions over their working life and it can be easy to lose track of them and this means you don’t get the pension income you are entitled to. Be sure to give your pension providers up to date contact details when you move to a new house to make sure you receive all the documentation you need to keep up to date. If in doubt the government’s Pension Tracing Service Find pension contact details – GOV.UK (www.gov.uk) can help you track down any lost pensions.

November 4th, 2021 | Andrew Hagger | News

A significant proportion of young people are prepared to turn away from traditional pensions to invest in cryptocurrency, stocks and shares ISAs or other investments instead, reveals a new poll of 2,000 UK adults.

The new study for independent price comparison site NerdWallet reveals that almost a third (31%) of young people aged between 18 to 24 years old would rather invest in cryptocurrency than save into a traditional workplace or personal pension.  This is despite the extreme risks often associated with investing in cryptocurrency, made clear in a recent scam at the expense of unsuspecting investors.

Interestingly, while there appears to be a strong appetite among young adults to invest in cryptocurrency, over a quarter of young adults (26%) said that they are reluctant to save into a pension because of the risks involved. This is despite the cryptocurrency industry being vulnerable to scams, often using social media influencers that target a younger audience. When it comes to pensions themselves, only 21% of 18- to 24-year-olds surveyed said they understand the risks of the funds in which they invest which suggests that there is limited awareness of the risks involved in both.

The workplace pension is much less popular with this generation, with over a third of young people thinking that it is more important to invest in stocks and shares ISAs (36%) or cash ISAs (35%) than to contribute to a pension or sort out their finances for retirement. This contrasts with 7% of 45–54-year-olds that favoured stocks and share ISAs and 14% that favoured cash ISAs or savings accounts. A further 28% of the study’s 18-24 respondents have already chosen to opt out of their workplace pension to save money in other ways – while 23% have decreased their pension contributions over the last 18 months.

The research also looked at where retirement planning ranked among other financial priorities, with one in three (34%) young people saying that it would be more important for them to pay off a mortgage early than to start saving into a pension. With pension planning seemingly not a priority for many young adults it is perhaps unsurprising that 82% of 18–24-year-olds have not yet worked out how much they would need to save for a comfortable retirement.

With cryptocurrency investment becoming increasingly interesting for young people, and retirement less prioritised, this could suggest that young people are more interested in instant gratification and quick wins over long-term investment when it comes to personal finance, regardless of the risk. 34% simply said that they would rather spend the money they have today than think about saving for tomorrow, while 30% said that they do not believe that they could afford to make regular pension contributions due to a lack of disposable income.

Meanwhile, 29% also said that they do not plan on starting a workplace or personal pension as they think that the state pension will be enough to support them in retirement, while 24% said that they have put off sorting out a pension because they do not understand how it works.

Richard Eagling, Senior Pensions Expert at NerdWallet, commented: “The younger generation seem to be re-writing the retirement rulebook, with cryptocurrency a bigger draw than pensions for almost a third of young adults. Our survey shows that many youngsters are in danger of overlooking the unique advantages that pensions offer, in pursuit of the thrill of higher risk and potentially higher reward investments such as cryptocurrency. At the same time, a significant number of 18–24-year-olds are not engaging with retirement planning at all, or prioritising other financial goals. It is vital that young adults not only take steps to save for their retirement as early as possible, but also understand which products are most likely to give them the best chance of a comfortable retirement.”

October 29th, 2021 | Andrew Hagger | News

Money is something you simply can’t ignore, it’s essential to put food on your table, a roof over your head and to hopefully allow you to enjoy the lifestyle you work so hard for.

However, money matters can also prove to be very stressful, so it’s important to take control of your money and hopefully this will allow you to sleep better at night, knowing everything is in order.

Financial risks are everywhere and come in many shapes and sizes, affecting nearly everyone. You should be aware of the presence of financial risks. Knowing the dangers and how to protect yourself can help reduce the chances of a negative outcome.

managing the risk in our lives and managing our personal financial risk often overlap, although there are particular risks unique to finances that need to be understood and managed.

Keep a close eye on your credit score.

Checking your credit score on a regular basis not only means you will reduce the risk of fraudulent activity on your accounts, but it will also allow you to understand what lending products such as credit cards and loans are available to you.

 Don’t worry if your credit score is below average

Just because you don’t have a tip top credit score, it doesn’t mean you can’t borrow. Maybe you’re looking to finance a replacement car to help get you to work or get the kids to school – just because the big banks won’t lend to you it doesn’t mean there aren’t other options worth trying.

By making your credit card payments every month and on time will help improve your credit rating – set up reminders on your phone to ensure you don’t risk missing a payment – take control and that’s one less thing you’ll have to worry about.

Don’t automatically renew your car and home insurance

It’s the easy option just to renew your car or home insurance when the annual renewal drops through your letter box.

But this could mean you risk paying over the odds – simply tap your details into a comparison website and see if you can get a cheaper deal – you could be surprised how much you can save over a year.

 Try and get a better savings interest rate

Inflation or purchasing-power risk for most people is the “risk of avoiding risk” — this means the higher the rate you can earn, the less damage to your savings account balance from inflation. Rates aren’t great at the moment, but don’t let that stop you trying to earn more on your hard-earned nest egg.

Check that your home insurance gives you the cover you need

We try and reduce our risks by taking out insurance to cover us for those unexpected events or unfortunate accidents.

Unfortunately, many people don’t check the level of cover on their policy document until it comes to making a claim – and that can be too late.

Set aside 15 minutes to check your cover – look at the maximum value for individual items such as rings and jewellery as well as goods in your shed and possessions when away from the home.

If you don’t think your cover is adequate, contact your insurer sooner rather than later – you don’t want to risk being left to fork out hundreds of pounds out of your own pocket.

Consider a debt consolidation loan

Another alternative to help you manage your finances is to consider taking out a debt consolidation loan for bad credit. This is where you take out a loan to pay off your existing credit accounts, leaving you with only one monthly repayment to manage. It’s worth keeping in mind that whilst an unsecured debt consolidation loan can help you better manage your money, they can also extend the length of time in which you repay.

Author

This article was provided by Leah Cusick, a content specialist at Consolidation Express. A UK-based debt consolidation loan broker, the company – and its advisors – have a wealth of knowledge when it comes to debt consolidation for people that have bad credit. Get in touch if this is something you are interested in.   

October 28th, 2021 | Andrew Hagger | News

Claims for road accidents jump 8% in the week after the clocks go back, according to analysis of internal data by Tesco Bank Car Insurance. The findings are based on data from 2013 to 2019* which compares the number of claims in the week before the clocks go back, with the week after.

As we approach the winter months and the nights draw in, Tesco Bank urges drivers to take extra care on the roads and shares its tips on winter driving.

Julian Hartley, Insurance Director at Tesco Bank, comments: “It can take a while to adapt to the winter shift as the clocks go back. Arriving and leaving work in the dark, school runs done at dusk and evening activities under the glare of lights means that everyone using the roads needs to take a bit of additional care. Giving people extra time and space, making sure you are visible, and undertaking some vehicle maintenance are just a few simple steps that will reduce your risk of a winter collision.”

1. Leave some extra space

Weak light or glare from the sun setting at dusk, from about 4pm, can make some colours less distinct. Leave some extra braking distance between you and the vehicle in front so you have more time to react if you need it.

2. Check those lights

Ensure your lights are in full working order. Not only is it illegal to drive at night without fully functioning front and rear lights, it can also be incredibly dangerous. If you find any bulbs to be faulty, get them changed as soon as possible.

In terms of using your lights, though it may be tempting, do not use your full beams unless absolutely necessary and you are not faced with oncoming traffic as this can impair other drivers. The same applies for your interior lights. Ensure you are using dipped headlights for the rest of your driving in the darker hours, be this morning or night.

3. Keep windscreen and all windows clean

Dirt can build up quickly on autumn roads so pay extra attention to keeping all your windows and windscreen clean. You should also regularly check your screen wash, making sure it is sufficiently topped up before making any journeys. In the colder months windows are more susceptible to condensation so make sure you leave time to fully demist all your windows that need it.

4. Pay extra attention to other road users

Streetlights can cast shadows on roads, pavements or at road crossings which can hide pedestrians or cyclists. Take extra care on the roads, drive slower around schools and poorly lit areas, and make a conscious effort to double check for cyclists and pedestrians.

5. Get your eyes tested

The adjustment your eyes have to make, especially as daylight can turn to night so quickly, can be tricky, and, with the increased difficulty of driving in darkness, it would be wise to get your eyes tested to ensure you aren’t unintentionally causing potential danger to yourself or others.

6. Avoid driving tired

This applies all year round, but even more so now. You may have had an extra hour in bed, but we all know that doesn’t always leave us feeling fresher. Driving tired can put both you and other road users in jeopardy, so if you become tired while driving, stop, take a break and set off again when you feel safe to do so.

October 20th, 2021 | Andrew Hagger | News

Over-65s saw their property wealth increase by more than £800 a month in the past six months as the housing market benefited from the Stamp Duty holiday, analysis* from UK’s leading independent equity release adviser Key shows.

Over the past six months property owned outright by over-65s has increased in value by £24.225 billion which is worth an average £4,833 for each older homeowners.

Their total property wealth now stands at £1.256 trillion with all parts of Great Britain benefiting apart from London where property values fell as people looked to leave the capital and central London house prices underperformed. The biggest gains in the past six months were in Scotland and the South East with over-65s gaining more than £13,000 and nearly £12,000 respectively.

Long-term gains from property beat income growth

Since Key started analysing the mortgage-free property wealth of the over-65s in 2010 homeowners have seen growth of 61% – a total of more than £476 billion which is equivalent to around £95,000 per household over the past 11 years.

Over-65s have not seen the same boost to their incomes as they have seen to the value of their homes. Most recent Government data shows average pensioner incomes after housing costs only rising £12 to £331 per week – the equivalent of 3.7% – over the last 11 years**.  Pensioner couples have average incomes of £482 which is 6.8% higher than 11 years ago while single pensioners’ average incomes are 4.5% higher at £231.

The only region to see property values drop in the past six months was London where average prices are around £6,647 lower. All other regions saw growth of at least nearly £1,000.  More than a fifth of all property wealth held by over-65s is in the South East with the South West and East Anglia the next biggest regions for over-65s property wealth.

Will Hale, CEO at Key said: “The recent end of the Stamp Duty holiday may cool the property market somewhat but over-65s homeowners will continue to have a substantial amount of wealth tied up in their houses. This wealth can be accessed through products such as equity release and be used by older homeowners to address financial needs and wants through later life.

“The 61% rise in the property wealth of over-65s over the past 11 years dwarfs single digit increases in average pensioner incomes over that period and underlines the case for advisers and customers considering all assets when looking at financial planning at and through retirement.

“Equity release customers are increasingly using plans for a wide variety of purposes including securing their own retirement finances while also gifting money to family to help them on to the property ladder. Today’s modern equity release plans enable people to manage their borrowing in a flexible way and therefore to meet both needs and wants as their circumstances change through later life.”

October 15th, 2021 | Andrew Hagger | News

Car insurance premiums for young drivers aged 17 to 29  are falling, according to new figures from Quotezone.co.uk.

The car insurance comparison website recorded the largest decrease for the 17-21 age group with a drop of 14% in average premiums from 2020 to 2021 – from an average of £1,173 to £1,008 this year.

Quotezone.co.uk found that drivers aged 22-25 were now paying an average of 6% less for their cover – falling from £833 in 2020 to £783 this year.

The firm says its research, based on a sample of over 50,000 car insurance policies, shows that 17 to 21 year olds still pay an average of 38% more than other young drivers, and that new drivers across the 17 to 29 age group pay on average 53% more than experienced motorists.

Quotezone.co.uk’s research reveals that newly qualified motorists can expect to see their car insurance premiums drop by an average of 29% after they’ve been driving for two years with no insurance claims.

The insurance specialists say that there was a 12.6% fall in new younger drivers in 2020, and for motorists aged from 17-21 the drop was 42%.

Quotezone.co.uk’s Founder Greg Wilson comments: “Young drivers, particularly those aged 17 to 21, have had a tough year with driving lessons and testing on hold, and now delayed.  We expect the volume of young drivers to surge, once the queue for testing settles down, as people have had more time at home practicing their driving skills with friends and family.

“In terms of car insurance costs, it’s welcome news that premiums for this age range have fallen – it can often be expensive given their inexperience.  Average premiums start to fall by nearly a third as drivers gain more time behind the wheel – especially if they have two years driving safely with no claims made.

“There are things brand new drivers can do to help them find the most competitive quotes though, such as choosing a car with a smaller engine, avoiding modifications, parking in a garage or on a private driveway, and opting for a telematics product which allows them to showcase their safe driving right from the get-go.  Drivers can compare all these options on our comparison site, so they can see which providers are offering the best extras and the lowest cost.”

Quotezone.co.uk offers specialist cover for learner drivers, temporary learner insurance and for young driver insurance. It helps around 3 million users every year find better deals on their insurance, with over 400 insurance brands across 60 different products and is recommended by 97% of reviewers on Reviews.co.uk.