The first ever car insurance in the UK was taken out 114 years ago in 1895, however, it only became compulsory when a law was passed in the UK Parliament in 1930 following on from the Americans who had made it a legal requirement 3 years previously.
Some motorists take the view that car insurance is another unwanted cost but with an estimated 1.3 million uninsured motorists driving about in the UK, if an accident were to occur involving one of the uninsured it is then that your insurance cover would be invaluable.
Should such an unfortunate event occur the Motor Insurance Bureau was set up to compensate those victims of uninsured or untraceable drivers following an accident; they also operate the Motor Insurance Database, which has the details of every single insured vehicle in the UK.
The Car Hub is now pleased to offer free online car insurance quote services provided by Quotezone who searches and compares scores of insurance companies and brokers who are able to supply some of the cheapest car insurance UK quotes, and frequently extra discount deals can be obtained which are not normally advertised and only available via brokers. In addition to car insurance, The Car Hub also provides a comparison site for van, bike and breakdown cover as well as general insurance quotes for home and travel.
Simon Joyce, Sales Director of Anchor Vans, spoke enthusiastically about the change. “It’s a relief to see the measures that we’ve heard so much about on the news starting to be seen at the sharp end of business. It took some time to see any kind of change in the banks lending criteria, but now we’ve noticed a definite shift.” The availability of credit for vehicle financing has a significant impact on businesses that rely upon the use of commercial vehicles. “It’s certainly a relief for our customers,” Simon added. “It will have a very positive impact on the small to medium businesses that have really suffered over the last year from the unavailability of credit.”
When asked how the increased availability of vehicle financing credit has become apparent, Simon answered; “We’ve noticed a general easing on the underwriting criteria. At one point, only a very small percentage of applicants were eligible, but now the credit rating doesn’t have to be absolutely perfect for a van finance application to be successful. The figures also bear this out; if we look back at November and December 2008, and January 2009 the percentage of van finance customers whose applications were accepted was significantly lower than over the past couple of months. The required deposit has lessened too.” With the effects of quantitative easing now being seen outside of the banking system, the future is looking brighter for any companies depending upon credit to finance commercial vehicles that underpin their business.
About Anchor Vans
Anchor Vans specialises in quality new and used vans in the South East of England. Anchor Vans is already the largest centre for new and used vans in Basingstoke, Newbury and Reading run from its main road Padworth site. Anchor Vans is well known for its competitive “lease to buy” schemes and for the quality of its website which allows customers to view pictures of all 350 new and used vans in stock. Anchor Vans has an extensive service centre with facilities for all classes of MOT for cars, vans and minibuses. Recently granted Ford approved service agent status, Anchor Vans has built a reputation for dependability and supplying high quality new and used vans.
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