The cost of a 'no-fault' accident
Money Box
BBC
4.2 • 825 Ratings
🗓️ 5 January 2019
⏱️ 26 minutes
🧾️ Download transcript
Summary
Have you had an accident in the last 5 years - even if it wasn't your fault? Ticking that box on a car insurance application can be very costly - even if you weren't to blame. Money Box reporter Dan Whitworth has been investigating why.
Around 14,000 investors who put their money into a mini-bond sold by London Capital & Finance are in limbo this week after the Financial Conduct Authority froze the firms assets and banned it from advertising or selling the product. What does this mean for people with money invested?
The Chinese economy is flagging after decades of expansion and the latest Bank of England figures show a fall in UK consumer lending. Will 2019 see our personal finances coming under an increasing squeeze?
And as the currently un-named Government backed 'Single Financial Guidance Body' comes into being - taking on the roles of The Pensions Advisory Service, Pension Wise and Money Advice Service - we mull over suggestions for what it could be called...
Presenter: Paul Lewis Producer: Alex Lewis Editor: Richard Vadon
Transcript
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| 0:00.0 | You're about to listen to a BBC podcast, but this is about something else you might enjoy. |
| 0:05.4 | My name's Katie Lecky and I'm an assistant commissioner for on demand music on BBC Sounds. |
| 0:10.8 | The BBC has an incredible musical heritage and culture and as a music lover, I love being part of that. |
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| 0:22.4 | helping you nod off, boogie in your kitchen, or even just a moment of calm. And they're all put |
| 0:28.3 | together by people who know their stuff. So if you want some expertly curated music in your life, |
| 0:35.0 | check out BBC Sounds. |
| 0:41.3 | BBC Sounds, music, radio, podcasts. Hello, in today's programme, |
| 0:43.3 | why do insurers punish innocent drivers |
| 0:45.3 | when someone else smashes into their vehicle? |
| 0:48.3 | Investors have been left wondering what's happening to their money |
| 0:51.3 | after the regulator freezes the assets of the |
| 0:54.4 | firm that sold them their investments. And the China syndrome, why does a 0.1% reduction in |
| 1:01.1 | growth in China wipe 60 billion pounds off the value of the American tech giant Apple and how will |
| 1:07.5 | it affect us? But first, if you've had an accident in the last five years, even if it wasn't your fault. No, I'm not trying to sell you some dodgy compensation product. I'm just reading a common and innocent sounding question on nearly every application form for car insurance, but ticking that box can be very costly, even though, as the question says, you weren't to blame. |
| 1:28.4 | Our reporter Dan Whitworth's here, blameless as ever, and he's been looking into one woman's story. |
| 1:32.9 | Yes, that's right, Paul, and her name is Ruth Capella, a 31-year-old social worker. |
| 1:37.5 | Now, two years ago, she was driving on the M25 motorway around London when she was hit by a lorry and pushed sideways across two lanes of traffic before coming to a stop. |
| 1:47.8 | Now luckily everyone involved walked away without any serious injuries. |
| 1:52.1 | But as you can imagine, it was still a very traumatic experience. |
| 1:55.8 | It was absolutely horrific and I was just shaken, so shaken and shaken for quite a long time. |
| 2:04.5 | Really quickly, two traffic officers were on the scene, so that was fantastic, they were |
... |
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