At the moment, the legal system in Britain forces all personal injury claims to go through the courts and be judged on an individual basis. Many of these claims crawl through the courts at a leisurely pace, the result being expensive court costs. Even worse, for every 0 51 that is paid out in compensation, it has been estimated that the legal profession receives 40p for their legal work. This amounts to the British legal profession receiving an estimated 0 52 billion a year just from personal injury claims C unbelievable isn t it!

The insurance companies have to cover these costs, and it s costing them so much that it has been estimated that for every car insurance premium, around 0 5200 of it will be going towards paying these personal injury claim legal costs.

The Association of British Insurers has decided to step in and bring this practice to an end, and has made a proposal. The ABI wants personal injury claims to be settled by an independent arbitration system, instead of by the courts. It would work by setting compensation payouts for set types of injuries, a system that has been operating successfully in Ireland since 2004. There, legal costs have been lowered by three quarters.

If the arbitration system proposed by the ABI is introduced, each case would involve far less time and energy to resolve, so naturally the costs would be far less. In Ireland, a back injury that recovers within 12 months is allocated the English equivalent of 0 511,000. A neck whiplash injury recovering in the same time span would receive a payout of the equivalent of 0 59,400.

Ian Crowder, a spokesman from the AA, reiterated the benefits of cutting the lawyers out, pointing out the fact that the soaring costs of personal injury claims have been a significant contributor to insurance premium inflation. If they could be brought under control, premiums could be cut. It s something that we all wish for. Well, almost everyone.

The British Association of Personal Injury Lawyers is the only party that don t want to see an arbitration system introduced in Britain. Their objections are based on two beliefs, firstly that the injured would lose their right to an individual hearing and would be at the mercy of the insurers. Secondly, that their research showed the initial offers made by insurers to be half of the final compensation reached. They also state that two thirds of defendants at first denied liability, that s what takes these cases to court.

The experience of arbitration in Ireland so far has not highlighted any of the issues highlighted by the British Association of Personal Injury Lawyers as a problem. Compensation values in Ireland have not decreased since arbitrations, and people get their money up to 3 times more quickly. What s more, legal costs have been reduced to a quarter of their previous level

For years now, we have seen car insurance premiums rise at an exponential rate C we deserve a break C so roll on arbitration.

About The Author

Michael Challiner writes for Brokers Online ( http://www.life-assurance-bureau.co.uk ) who offer critical Illness and most UK financial services including car insurance( http://www.life-assurance-bureau.co.uk/car-insurance/ ).Visit our family finance blog for useful tips on UK finance ( http://www.life-assurance-bureau.co.uk/family-finance/ ).

Technorati Tags: automotive, autocare, auto care, car care, auto repair

(ARA) - A car, truck or SUV is most probably the largest purchase most Americans make besides a home. Keeping their cars in good shape is not only a national hobby for men of leisure, but also a must for busy professionals and families in the country who have little free time, but want to keep the book value of their car up and their insurance premiums down.

Americans spend so much time, money and effort to keep the mysterious innards of automobiles in working order that we often neglect the exterior of our lean machines, whatever their brand, make or model. And with snowy winter salt and sand eating away at the exterior, the scorching sun fading the paint, spring s acid rain peeling away the exterior coatings, combined with bird droppings, parking lot dents and scratches everywhere, it s easy to see why maintaining the showroom condition of our cars isn t easy.

The hot wax most car owners use at coin operated carwashes is a small, short-term measure that really is not an adequate preservative, and the hand washes at manned car washes today cost a great deal and are getting more expensive all the time, says John d Agostino, winner of the 2004 Trendsetter of the Year car designer award at the San Francisco Hot Rod Custom and Motorcycle Show. For the ultimate shine and long lasting wax protection, I use Buffalo Milke not only on my show cars, but on my daily drivers as well. It is simply fast, easy-to-use and produces the best results!

Certainly a major advance in the next generation of spray waxes, the universal usage of one product for all exterior surfaces, including paint, chrome, aluminum, high impact plastic, glass, black rubber trim and wheel rims renders old fashioned, labor-intensive waxes and cleaners obsolete.

Premium-grade Buffalo Milke Instant Spray wax can assist you in keeping your vehicle in tip-top shape: It waxes in minutes, not hours; covers minor spider web scratches and swirl marks; leaves no white powder residue; provides a wet, glossy look to paint finish as well as provides UV protection against sun damage and anti-static protection.

Take the advice of a real pro, Joe Candy Apple Bailon — the man who invented Candy Apple Red paint, It s simple to use, just spray it on and wipe clean for that special wet look in only 20 minutes or less. Candy Apple Joe laments, I wish I had had this new product to use over the past 60 years — my car customizing career would have been far easier.

For more information on the next generation of spray waxes, call (866) 364-2468 or log on to www.bmap.tv.

Courtesy of ARA Content

About the author:

Courtesy of ARA Content

Technorati Tags: automotive, autocare, auto care, car care, auto repair

With prices averaging more than $20,000 for a new vehicle and $9,500 for a four-year-old vehicle, most consumers need financing or leasing to acquire a vehicle. In some cases, buyers use “direct lending:” they obtain a loan directly from a finance company, bank or credit union.

In direct lending, a buyer agrees to pay the amount financed, plus an agreed-upon finance charge, over a period of time. Once a buyer and a vehicle dealership enter into a contract and the buyer agrees to a vehicle price, the buyer uses the loan proceeds from the direct lender to pay the dealership for the vehicle.

Consumers also may arrange for a vehicle loan over the Internet. The most common type of vehicle financing, is “dealership financing.”, but the smart car buyer knows it’s better to shop for financing before you shop for the car, and the internet is fast becoming the “big dog” in auto financing.

In a dealership financing arrangement, a buyer and a dealership enter into a contract where the buyer agrees to pay the amount financed, plus an agreed-upon finance charge, over a period of time. The dealership may retain the contract, but usually sells it to an assignee (such as a bank, finance company or credit union), which services the account and collects the payments. For a vehicle buyer, internet financing offers:

1. Convenience - Consumers can shop for financing from many different sources (often from one website), from the comfort and privacy of their own home.

2. Multiple financing options - A potential auto buyer now has the power to “shop the nation” for auto financing and get approval within minutes, without ever leaving their den or living room.

3. Special programs - From time to time, online loan entities may offer incentive discounts to buyers who have procured a loan with them previously, or are already doing business with a partnered company.

4. Low overhead - Some financial companies are now “internet only” which allows them to have very low overhead. In turn they tend to pass the savings on to their customers in the form of lower interest rates, and to their employees in the form of better wages. The later usually translates into better customer service.

For the vehicle buyer, dealership financing offers:

1. Convenience - Dealers offer buyers vehicles and financing in one place.

2. Multiple financing relationships - The dealership’s relationships with a variety of banks and finance companies mean they can offer buyers a range of financing options.

3. Special programs - From time to time, dealerships may offer manufacturer-sponsored, low-rate programs to buyers.

One downside of waiting to finance through a dealership is that the customer may get “car fever”, and step into a financing situation that may be less than optimal, just so they can “drive the car home today”. Automobile salesmen are quite aware of this potential, and will sometimes help the customer’s emotions get the best of them.

Do your homework - The complete article can be found at http://www.aloanandlovingit.com/vehicle-finance.html

…Arm yourself with knowledge and you become invincible!

About The Author

John Martin is the owner of aloanandlovingit.com, a personal finance website featuring up to date, informative content. Visit http://www.aloanandlovingit.com and signup for the now famous, seven-day financial awareness e-course.

(c) 2005 eyebye media (John Martin)

Technorati Tags: automotive, autocare, auto care, car care, auto repair