MONEY MORSELS

Car cover cost low

CAR insurance costs fell to a fouryear low between April and June. The average price paid for a comprehensive policy is now £460, down £14 (or 3pc) compared with the previous quarter, according to trade body the Association of British Insurers. This is partly down to people driving less in lockdown.

Rocketing mobiles

THE COST of top-end mobile phones have soared 490pc in the past 20 years, according to comparison site Uswitch. Samsung’s new model, to be launched in August, is predicted to go on sale for £1,300. Experts predict premium handsets could cost up to £1,800 in the next five years.

Policy poverty

INSURERS should continue to help policyholders who are struggling to pay their premiums during the pandemic, the Financial Conduct Authority said. The City watchdog has urged firms to waive fees and offer payment deferrals until November.

Virtual wills

WILLS signed in the presence of virtual witnesses on video calls such as Zoom are to be legalised. The new law will be backdated to January 31, 2020, so that wills signed remotely during lockdown will be considered legal.

Gold rush

SALES of gold have reached a nine-year high since lockdown, soaring by 500pc compared with the same period last year. Royal Mint figures show more than 6,000 new customers have opened a bullion account since March 23, when restrictions started.

New scam list

THE City watchdog has published a new register of authorised financial firms to help customers avoid scams. The list has been written in simpler language, is more accessible on mobile phones and includes clearer information about past enforcement action taken against individuals and companies.

Lockdown treats

BRITONS plan to spend £195 on the High Street post lockdown, according to American Express. Top treats include a meal out, costing £31 on average, new clothes (£25) and drinks at the pub (£21).

Sandwich stretch

NEARLY half of people who have both children and elderly relatives to care for have had to reduce the amount of hours they work since lockdown. More than a quarter (29pc) of the socalled ‘sandwich generation’ have had to dip into savings, according to Comparethemarket.

House savings

ALMOST a quarter of first-time buyers have been able to save more during lockdown. However two-thirds of potential buyers do not expect to purchase until they are 30, says the Nottingham Building Society.