Money Saving News for December 2008
- LV= launches insurance partnership with Nationwide - 2nd December, 2008
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Insurance and investments broker LV= has announced the launch of a "strategic partnership" with Nationwide Building Society.
Under the terms of the partnership agreement, LV= will become the sole provider of car and travel insurance to Nationwide customers, as well as underwriting many of the Building Society's business, shop and property insurance policies... - Post Office extends home insurance cover - 2nd December, 2008
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Post Office Home Insurance has announced that it will be increasing the amount covered under its policies over the Christmas period.
Allowing for the extra value that Christmas presents may add to policyholders' household contents, the Post Office has said that it will increase its cover by ten per cent throughout the month of December.
Post Office head of home insurance Emma Baunach said that the extra valuables in people's houses should not have to be a cause for worry during the festive season... - Over-50s 'can buy over the counter cover' - 2nd December, 2008
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The Post Office has announced that it will begin selling life insurance to over-50s over the counter.
Over-50s Life Cover, as the new package is to be called, adds to the travel insurance packages that the Post Office already offers over the counter and has the advantage that it provides instant cover... - Property slump 'leaves pensioners feeling the pinch' - 1st December, 2008
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A study released today suggests that many pensioners could see the value of their retirement funds reduced because of the recent falls in property prices.
The research, conducted by uSwitch.com, reveals that 1.7 million people approaching pension age are relying on property to fund their retirement, but recent house price falls could leave them seriously out of pocket.
Average house prices have dropped by over 14 per cent in the past year according to uSwitch.com, a slump which has taken almost £30,000 off the value of the average house.
Ann Robinson, director of consumer policy at uSwitch.com, said: "The economic slump has certainly scuppered the best laid plans of people nearing retirement.
"Consumers are faced with falling house prices coupled with a stock market crash and low savings rates."
Last week pensions expert Dr Ros Altmann said that the baby-boomer effect could put serious pressure on state-funded pensions as the proportion of the UK's population over the age of 65 rises dramatically after 2010... - Brits are underinsured, research reveals - 1st December, 2008
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Research published today reveals that people in the UK underestimate the value of their household contents when buying insurance, meaning that many could struggle to replace their belongings if the worst happened.
According to a survey by AXA, Brits insure their household contents for £29,000 on average, yet they estimate the value of their possessions at just under £38,000 on average... - Consumers expect interest rate rises - 1st December, 2008
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A survey released today reveals that UK shoppers are expecting interest rates to rise next year, despite widespread speculation that they could fall further.
The research, conducted by Lloyds TSB, found that last month's 1.5 per cent cut in the base rate has had little affect on consumers' expectations for next year's rates...