The Real Cost of Go-Faster Stripes!

New Study Reveals How Car Accessories Could ‘Drive up’ Your Premiums

Boy racers beware, because according to new research from price comparison website, thecomparisons.com, even the simplest of car accessories can drive up your premiums by as much as 50%.

Using information gathered from its panel of hundreds of different car insurers, thecomparisons.com has produced a ‘risk list’ of the car accessories and modifications that could end up burning a hole in your pocket.

Topping the list were ‘engine chip’ and ‘dump valve’. While both can dramatically improve a cars performance, they can also cost you a lot of money, and can increase car insurance premiums by up to 50% and 25% respectively.

Also making the list was car body kit, spoilers and even go-faster stripes, while a number of modifications – including turbo charging and nitro drives – could mean some car insurance providers would not consider insuring you at all.

Top ten costly car modifications (potential increase to annual premiums)
1) Engine Chip* – 50%
2) Dump Valve – 25%
3) Pick up/Caborlet conversion* – 25%
4) Body kit – 15%
5) Racing seats – 10%
6) Back Box* (exhaust modification) -10%
7) Lowered suspension* – 10%
8) Alloy/wider Wheels – 10%
9) Go-faster stripes – 5%
10) Rear spoiler – 5%
Turbo charging, Nitrous Oxide drive – normally unacceptable.
*some providers will not consider insuring at all

Data provided by thecomparisons.com panel members, including Express Insurance. Figures are intended as an approximate guide only.

Chris MacDonald, Director of thecomparisons.com, said: “Insurers will look at a diverse range of factors when providing a quote for a customer and even the most innocuous of accessories can drive up your premiums quite dramatically. It is important to remember, you should always register the correct specifications of your car when applying for a quote, or you could risk causing complications and delays if you do need to make a claim.”

“This really demonstrates the importance of getting a wide range of quotes, and what better way to do this than through a price comparison website?”

The Cost of Love This Valentines Day? It’s £9.99

New Research Reveals We’re a Nation of Tightwads

New findings from price comparison website, thecomparisons.com, have revealed the true cost of love and it’s nowhere near as high as you’d think! A staggering 55% of people said they are planning to spend less than £10 on their partners, or even buy no present at all, this Valentine’s Day.

thecomparisons.com questioned 1,005 people across the UK in January 2008 to help it understand consumer behaviour when it comes to spending money on gifts and presents.

The findings paint Brits as a nation of romantic tightwads; just 2% said they’d spend more than £100 on a Valentine’s gift for their partner this February 14th, while only three of the 1,005 people questioned said they’d spend more than £500. A third (35%) of people said they’d spend between £10 and £50.

Surprisingly, women emerged as the tightest gender and were 20% more likely than men to spend less than £10, or buy no gift at all for their other half. Blokes, on the other hand, were twice as likely as women to spend between £50 and £100 on a romantic gift.

The South East emerged as the tightest region, being more likely (60%) than anywhere else in the UK to spend less than £10 or buy no present at all for their partners. Close behind was Scotland with 58% and the South West with 55%. At the other end of the scale was the Republic of Ireland, where a quarter of people planned to spend between £50 and £100 on their partners – the highest out of any region.

Young people also emerged as more romantic than older age groups; three quarters (75%) of those in the 55-64 age group were planning to spend less than £10, or nothing at all on their partners, compared with only 41% of 18-24 year olds.

Chris McDonald, Director of thecomparisons.com, said: “As the research shows, at £9.99, the price of love is not very high! People are either planning to shop around and get a great bargain this Valentine’s Day, or are actively shunning it. Of course, if you are after the best deal, and want your money to work hardest for you, then a price comparison website is a great place to start.”

• 1,005 people were surveyed in this study across the UK. Your Say Pays is a research panel operated by The Leadership Factor, the UK’s leading source of (customer) satisfaction data. For further details www.leadershipfactor.com or tel 01484 467004 for further details