The OECD has warned developed countries must bring down their deficits to half of gross domestic product by mid century. The warning was made in light of the recent economic crisis which saw debts rise to above 100pc for countries such as Greece, Ireland, Japan and Italy. However, reducing debt to 50pc of GDP is a major challenge. With that in mind, are the OECD’s wishes unrealistic? And what countries would require the biggest battle to reach OECD’s desires?

The OECD did admit in their warning that the task would be a huge struggle. Japan’s debt currently exceeds 200pc of GDP! The French based international think tank believes it’ll be achievable however, through more spending cuts and tax rises. In other words, more change out of our pockets, which in turn will mean less free spending and no more blissfully being able to compare credit cards, ignorant of the consequences.

Selfless acts are the purest of them all however, and so with that in mind bearing the brunt with budget cuts and a rise in taxes now, will provide a better life for our children and their children of course.

Is It Achievable?

In theory, OECD’s aims can be achieved. However, in practice it is near impossible. This is as the people, already scarred somewhat by the recent economic depression, will lack the desire to implement the OECD’s aims at the expense of their own living conditions. Actually, it’s not so much the desire that would be lacking, but the foresight and forbearance to understand that the rise in taxes and budget cuts are all part of a shorter term remedy, implemented as a longer term solution. This will be the biggest challenge for governments worldwide.

Which Countries Will Suffer Most?

It seems as if Japan require the largest improvement in order to meet the OECD’s desires. While, in the euro zone, Luxemburg and Ireland will face the biggest struggles in reducing their deficit to half of GDP. The United Kingdom meanwhile, stands alongside the United States and New Zealand as those needing improvements of 8% of GDP.

Thus things might not be as bad for the UK as it is in other countries, but nonetheless if the OECD’s warnings are anything to go by, tough times are to be expected ahead.

With many things in the world today, price is an important consideration when it comes to researching and buying car insurance for young drivers, but it is not the most important aspect of cover for your automobile. The cover that you buy is ultimately the most important aspect of an auto policy.

The details of your policy are what protects you from financial loss in the event of an accident, but many in the UK are under or improperly insured. It is critically important that consumers understand how their auto cover policy works and that they know exactly what the limitations of the policy are.

One of the key components to auto cover is the section of the policy that discusses medical coverage in the event that an injury occurs during an auto accident. Usually, auto cover for medical has a maximum pay-out and then standard health cover takes over. It is important that those two policies meet at a junction that does not leave a gap in coverage. Some consumers have found that their auto cover hit a maximum limitation thousands of pounds before their medical cover began. This left the policy holder with several thousands of pounds of medical expense. Check with both your auto cover and your medical cover to see where one ends and the other begins. That alone could save consumers a great amount of money.

The small details are also important. What happens if you have an accident and somehow the auto keys are lost? Does your cover pay for those types of loss? Most people would think that the answer is yes, but in many cases, insurance policies do not cover those little issues. This too can leave the consumer paying sums of money for services that they thought were covered.

Understanding how your car cover policy works and what the limitations are, is one of the best ways that consumers can determine whether there is value in their auto cover policy. After an accident, or loss is not the time to discover that you are under-insured. It is not always an economically sound to pack all of your coverage into one policy. Consider a car cover policy that just provides car cover, and shop for a secondary policy that covers rescue. Sometimes companies offer a rescue policy that is paid as a small one-time fee rather than monthly. Using secondary policies can save the consumer money and lower monthly expenses over combining cover into one policy, which is better for low income earners.

The biggest mistake that consumers make is not spending the time to shop for quality, low cost car cover. It is important that consumers realize that there is a vast difference between cheap prices and finding value. Because car cover is supposed to protect you from financial loss and legal issues following an accident, the cost of the coverage becomes secondary to how much value the policy provides. Cheap is not always the best answer and shopping the market can help consumers to find quality coverage at affordable prices.

It seems to be a fact of life that prices only ever seem to go up, car insurance unfortunately is no exception to this, and for many people high insurance costs can often be prohibitive keeping them off the roads and preventing them from participating in many aspects of life that require a vehicle.

If you are struggling with high car insurance costs there is a high tech solution that is currently being trialled by a handful of UK car insurance companies.  The scheme rewards safer drivers and it is thought that most driver who try the scheme will see a reduction in there insurance premiums by around 30%.

So what is this brand new insurance type that can save so much money?  It’s called black box insurance and it works using similar tracker technology to that which you might find in your satellite navigation system.  You install a black box in your car which uses satellites and GPRS to monitor you when you drive, how fast you drive, what driving laws you break and how safely you break and take corners.  If you are a safe driver who obeys the driving laws then the insurance companies will know that you are less likely to cause an accident, less likely to make a claim and therefore less of a risk to insure, the result is they can offer you a lower price.  The system can also help you improve your driving by sending you stern warnings if you perform any particularly dangerous driving manoeuvres.  The Police would also be able to access the system to prove who is at fault during a driving accident.  The system is expected to be particularly popular among young drivers; in the UK insurance policies for drivers aged under 25 are particularly high often costing much more than the cost of the car.  The reason for this is that these drivers are thought to be less likely to be good drivers.  Good drivers aged under 25 can prove their abilities with this system.

It is not the first time that insurers have offered to reduce insurance costs for users of GPS devices.  For a long time GPS tracking devices have been available that allow stolen cars to be tracked.  These devices can quickly alert you should your car be stolen and help the police to find your car and arrest the thieves who took it.  This reduces the risk of insurance companies having to buy you a new car so allows them to offer cheaper anti-theft insurance.

In a world that seems to be filled with expensive must have tech gadgets that cost us loads, it’s nice to see technology being used to save us money for once.

Insurance is all about peace of mind, having the feeling of security that comes with knowing that should anything happen to your home or your possessions you will need to be left having to pay an unaffordable bill.  Unfortunately however the cost of this peace of mind can be quite high and sometimes even unaffordable itself.  You need to find a balance between getting a level of cover that you can afford, but also offers enough protection so that it is worthwhile.

Here are seven tips provided Ewan MacDougal on behalf of LV Home Insurance for making sure you get the cheapest home insurance possible.

1.       Combine your insurance policies

You can normally get a significant discount if you take out all your policies with the same insurer.  If you already have a building insurance policy, or a car insurance policy the same company will normally offer to add home insurance to your policy at a reduced rate.  This not only saves you money but makes the whole process simpler for you as you only have one company to deal with.

2.       Keep your cover up to date

Every time you renew your insurance policies it is a good idea to revaluate exactly what it is you are insuring.  Many homes forget to remove valuable listed items from their policies which they no longer use such as old mobile phones, cameras or computer equipment.  If you no longer feel the need to insure this equipment or think its value has decreased making these adjustments to your insurance policies can save you money.

3.       Decide on a level of excess to suit you

The smaller the excess you agree to pay the larger your insurance premiums are going to be.  If you feel you would struggle to pay a large excess and would need to have even small items replaced, then in the long run it is probably necessary to pay larger premiums.  However if you are the kind of person who is likely to frequently just replace or repair your own items to save the trouble of contacting an insurance company and will only make claims after big incidents then you should consider increasing your excess.  Should an incident occur you will have to pay more but you might find that this is worthwhile due to the amount you have saved previously.

4.       Join community groups

Many insurance companies offer discounts to households that participate in community security schemes such as neighbourhood watch.  Although this is a time commitment it can often save you quite a bit of money on your premiums. It also has the added benefit that many people enjoy getting to know there local community and feel more secure as a result.

5.       Make security improvements to your home

There are many things you can do to secure your home, this is good for you as it makes you safer and insurers will reflect this reduced risk in the quote they give you.  Installing things like double glazing, shutters, a burglar alarm are all good investments that in the long run will pay for themselves in reduced insurance premiums.

6.       Be selective about which claims you make

Most insurance companies will increase your premiums after you have made a claim.  You should therefore choose carefully what items you claim for.  Find out how the claim will affect your insurance premiums and how much you will get back from making the claim.  It is sometimes only worth making claims on items of a larger value.

7.       Shop around

Although it may be more convenient to simply renew your insurance cover every year you will often find better deals if you shop around.  Many companies offer discounts for first time subscribers and there might be different packages on offer.  Your own insurance company may consider reducing your premium if they know that you are shopping around.

By law, insurance coverage is required before driving. If you happen to have an accident while not covered, all the damages from an accident need to be paid for. With no insurance, the cost and headache you will cause yourself is not worth it. Shopping around for a car insurance policy is still easier than the aggravation caused by not having proper coverage.

Shopping around is easier than ever before. Between the phone and the internet, people do not need to drive to every office and speak to an insurer in person anymore. There are even websites that can give a quote for numerous companies all at the same time! The number one thing is to get the car insurance coverage that best fits your individual needs. Saving money on your premium is always an option, but not when it means having less coverage than you should. Never lie about anything including your age or past driving tickets. When the insurance company finds out you lied, they will drop your policy.

Third Party Only coverage is the least expensive of insurance policies. When you buy this, it will protect passengers and the other car driver. This is the basic form of car insurance that allows people to drive legally. Damages caused by other drivers are covered; damages to your own car by you are not covered. With the basic third party only insurance plan, theft and fire are NOT covered.

The option with third party coverage is fire and theft. A stolen car or a car that catches on fire are now insured, as this option covers the driver for replacement value of your car.

The last option is called Fully Comprehensive insurance. Many new vehicles require this coverage, especially if it is being leased or financed through a particular bank. This plan covers everything, no matter who caused the accident. Most insurance companies will pay for the costs of the repairs. For older car owners, this plan may not be worth the premium costs to insure.

Sometimes legal coverage is added onto plans as well. This allows the driver to go after any losses or additional damages they want to pursue from the other driver. If you opt for legal coverage, the insurance company will pay the legal counsel to fight for your compensation if you are hurt. Legal coverage does increase your policy’s premium and each individual driver has to decide if it is necessary to them.

Zipcar is sold as an alternative to owning a car for urban consumers. Instead of buying a car, you pay an annual membership fee, and then an amount per hour or day for how much you use the car. This fee includes gas and insurance and covers the first 180 miles you drive. Customers who use a car more can get the annual fee waived and a lower rate, in return for a commitment to spend at least a certain amount of month. Weekend rates are sometimes higher.

One of Zipcar’s biggest selling points is that it is cheaper than owning your own car. It is also sold as a no-hassle option as you don’t have to worry about maintenance, the car ending up in the shop or finding the right insurance plan. However, is it actually cheaper than owning a car?

Using Washington, D.C. as an example, a ZipCar member is charged a one-time $25 application fee and a $60 annual fee. The driver then pays $7.75 an hour, $73 a day Monday through Thursday or $82 a day on weekends. If they go beyond the 180 mile per day limit, they are charged 45 cents a mile. Of course, the company reserves the right to tweak those rates, and you may not know how much you are going to pay until you get the car. You also may not be able to get a car at a given time, or may have to travel halfway across the city to find one, as most Zipcar stations only have one or two cars. This mitigates part of the ‘no hassle’ aspects of the service.

Oh, and those rates are ‘starter’ rates. A larger vehicle will, of course, cost more. On the face of it, those rates don’t seem too bad. The 45 cents a mile is less than the current Federal government mileage (as of 2011) rate of 51 cents a mile…that’s what the IRS lets you deduct for mileage on your own vehicle. The rates are certainly cheaper than a taxi.

On the other hand, how much does it cost to own a car? In 2010, the average household spent $5,477 on gas and other car related expenses. To reach that amount, you would have to use a Zipcar for over 700 hours a year, or just under two hours a day, seven days a week. Assuming you work 5 days a week you would need about a 2 1/2 hour total commute time to make a Zipcar cost more than owning a car.

By the numbers, therefore, Zipcar is cheaper than owning your own car for the urban commuter. It is, of course, even cheaper if you live in the city and are able to commute by public transport, bicycle or, if you are really lucky, foot. Unless you are a very heavy vehicle user, then Zipcar is a cheaper option. However, if you are going out of town, the mileage cost may make traditional car rental a better option.

In other words, for the average urban consumer, it is worth considering getting a Zipcar account. Unless you use a car either excessively or extremely rarely, it is a cheap and relatively hassle-free option for personal transportation and for those times when you simply need a vehicle to carry all of your stuff.

Zipcar may be the cheapest alternative for your driving needs. If you are looking to cut down the amount you spend on your vehicle, do some comparison shopping at Kanetix to see which insurance providers offer the cheapest auto insurance quotes. In minutes, you can find out which provider can save you the most money.

The current plans pertain to exempting all cars built before 1960 from the legal requirement to a routine MoT test.

The thinking behind this proposal is that two-thirds of the vehicles in this category are driven less than 500 miles a year and are in the hands of owners who dedicate much of their spare time to maintaining and caring for the vehicle.

We’re not talking about youngsters with a freshly stamped license and an inherent desire to show off; the owners of these vehicles are careful and conservative motorists that are rarely involved in accidents.

In addition, many classic car enthusiasts believe that current MoT testing is simply not suitable for vehicles built 50 or more years ago, and that many MoT testers don’t have the knowledge or experience to carry out a comprehensive assessment.

Mike Penning, the UK road safety minister has stated that the proposal is designed to reduce the financial burden placed on motorists for obligations that reap minimal benefits.

Yet it is in fact not only the owners of a classic Land Rover, Fiat or Ford that may benefit from the potential plans; new cars will also be exempt from inspection until their fourth birthday (currently MoTs must begin when the car turns three).

However, not everyone is supportive of the new proposals.

Owner of the Classic Car Club, Nigel Case, described the plans as ‘ridiculous’.

In his opinion cars of this age need more attention than modern vehicles.  His thoughts are that it’s not uncommon for a car to appear in perfect condition while concealing a host of potentially dangerous problems.

So is this good news for classic car enthusiasts or simply a risky means by which our government is trying to demonstrate that it does cares about helping the general public cut costs?

In reality, those who choose not to book their classic Land Rover for a service could be putting themselves and other road users at risk. This proposal assumes that all classic car owners are experts in car mechanics and will be able to spot potentially dangerous problems for themselves; a dangerous assumption to make.

A requirement for owners of a classic Ford, Ferrari or Fiat to service their vehicle annually isn’t a huge financial burden and could be the difference between no accident and one resulting in a fatality – no amount of careful driving can compensate for failing breaks.

The fact is that when compared to insurance, petrol and the cost of the vehicle itself, the yearly MoT is one of the lowest costs car owners face.

It should also be safe to say that those which the proposal will affect (owners of both classic and brand new cars) may well have more disposable income than the owners of more modern yet used cars – those that will continue to be subjected to the yearly outgoing.

Surely a reduction on fuel tax would be more effective, while also benefiting motorists as a whole rather than a select few? Yet of course, this would hit the government where it hurts and a reduction would only be compensated for somewhere else by somebody else.

This article was written by Amy Fowler on behalf of Main Dealer Discount, who offer access to discounted Land Rover service, Fiat service and servicing for all other makes and models of vehicle.

As a driver in the United Kingdom, you may be looking for a new insurance policy for your vehicle, but you don’t want to pay too much for not so great coverage, which is completely understandable. If this is the case for you, then you’re likely to want to find easy and creative ways to reduce the cost of your car insurance policy, or to find a newer and lower insurance policy for your car. What are some tips that you can use to reduce these insurance costs? Let’s take a closer look to find out.
One thing that you need to do right away with your insurance policy is to look at the amount of your deductible. This deductible is the first amount that you must first pay out when you file a claim due to an incident in your vehicle. You’ll find that if you look closely, the cost of your insurance policy is linked to the amount that you’ll pay for this deductible. If you’re a safe driver with a good driving record, then you should consider potentially taking the risk of paying a higher deductible in the case of an incident, as this will save on your policy.
You also need to consider the type of car that you are driving, as this will impact the cost of your car insurance policy. If you drive a riskier or newer car, then you are far more likely to pay more in insurance costs because of this. If you’re at the stage where you’re buying a new or used car, then you need to make sure to consider this in the cost of your policy.
Are you a reckless driver? If so, then this can cost you serious money. If you’ve ever had a speeding ticket, or a fine for driving in a way that is dangerous to others, which has been reported and is on your record, then expect that your insurance company will know about this, and that they will charge you more. If you changes your ways and become a safer driver, then you can actually get a discount in the long run.
Make sure that you install safety devices and anti-theft mechanisms in your vehicle, as this can actually save you money on your insurance premiums. If insurance companies know that your car is equipped to be safer, and that there is less risk of there being theft involved with your car, then they will likely give you a discount and lower your premium rate.
Is your policy up for renewal or extension in the near future? If so – then try to negotiate a better rate! Things can always be variable in your insurance costs, and there are things that can be taken away or added to your policy that can make your money. You need to look critically at the details of your policy, as this will allow you to spot things in your policy that need to change.
Don’t be afraid to shop around and compare quotes, as depending on what your driving circumstances are, you may get a discount or lower rate with a different insurance company than the one you’re with. Look online or call some of your local companies, and ask them what the going rate is for a policy with them.
Looking online is always one of the best, and easiest, ways to find out about better deals before having to renew anything with your current company. It’s fast and easy to find quote pages online, and many of these quote sites will offer you several quotes by leading insurance companies who can meet your needs.

When you’re looking into getting a car insurance policy in the UK, you’ll be surrounded by different options that offer you different premiums and levels of coverage that will suit your current needs. The more the coverage covers, the more the premium will be. One of the most covered insurance policies is comprehensive car insurance policies. While these may be pricier than just basic coverage for your car insurance, it does provide you with a high level of protection that you may need. Still not convinced that getting comprehensive car insurance is the right way to go? Take a look at some reasons why comprehensive car insurance can be so valuable.
Did you know that many insurance policies may not cover the incidence of car theft? This can be a huge deal if your car is stolen, and if you have comprehensive car insurance, then you can be confident in knowing that your car is covered – even if it’s stolen. Newer and nicer cars are more likely candidates of theft, but it can happen to any car, and it’s a situation you definitely want to avoid. Much like the case with car theft, car vandalism is rarely covered in more traditional and basic car insurance policies. If your car is hit on the side of a road and the motorists vandalizes your car, and then drives away, you could be left in a very bad place if you don’t have comprehensive insurance to cover this financial burden.
Is your area stormy or prone to severe weather? Then this is another reason to get comprehensive car insurance for your vehicle. In the case of storms, trees or floods damaging your car, you’ll be covered when you have this kind of insurance – which is not the case with more traditional insurance policies for cars. The last thing you need to do is to deal with a natural disaster, while also having to deal with a damaged car that cannot be fixed under your traditional insurance policy.
If you’ve ever had to go down an unpaved road or path, then you know the peril of worrying about damage to your car down these types of roads. If you’ve ever had a chip from a rock in your window, then you can truly appreciate the difference that comprehensive insurance can make. While many insurance policies don’t cover these glass repairs, this is something that comprehensive car insurance does cover, and can save you hundreds of dollars.
Those who have a pet that needs to be transported at some point may be cause for anxiety, as animals have the ability to make a huge mass in your car. There is also the possibility that a deer can run into your car and destroy much of your car, and this is something that isn’t covered under most insurance policies. It can be majorly costly for you, and this is why you should consider comprehensive car insurance. All of these reasons just begin to scratch the surface of reasons why you should at least look into and consider comprehensive car insurance, versus a more basic car insurance plan.