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Over 100 years of experience

Wednesday, July 28th, 2010

Any driver car insurance was not even invented when the Fiat Company was born. Fiat is an acronym for ‘Fabbrica Italiana Automobili Torino’ and translated to English, reads ‘Italian Automobile Factory of Turin’. F.I.A.T. was founded on July 12, 1899, in the Italian city of Turin, at the time the city was enjoying a good period of industrial growth.

The first Fiat plant started in 1900, had 35 employees and made 24 cars. The Chairman was Mr Ludovico Scarfiotti, with Emanuele Cacherano di Bricherasio having the job as Vice Chairman.  It was Giovanni Agnelli, however, whose strategic vision and determination paved the way for FIAT to become a household name. A former cavalry officer in the army, he managed to gain an important position with the original investors and he was made Managing Director in 1902. He came up with the idea of a promotional tour of Italy by car and this was successfully done with the finish line at the Milan Fair. The Fiat oval logo on a blue background was designed by Carlo Biscaretti and this was adopted in 1904, the first car to have the Fiat brand was a Model 4 HP. The Fiat Company focused on a two-pronged strategy for the company to grow. These were 1- diversification of production and 2- concentrate on the most promising markets. This has been the strategy for Fiat throughout over 100 years of history.

A decade after it was founded, Fiat had seen its capital stock increase to a massive 12 million Lire, it now had 2,500 employees and had manufactured a total of 1,215 cars. Even the First World War did not hamper them, as this meant a conversion to military production of army trucks, ambulances and engines for submarines, to name just a few. During this time, Giovanni Agnelli still had a vision of a bright future for Fiat based on car manufacturing. Following fact finding missions to the USA, Fiat then started to plan a new factory based on what they learned from the states. Fiat’s aim was to match the technology of America.

By 1948, mainly thanks to money received from the Marshall Plan (officially the European Recovery Program, it was the primary program during 1947-51, of the US for rebuilding and creating a stronger economy for Europe) factories had been rebuilt. The number of workers employed by Fiat increased by ten thousand. In 1946 Fiat recorded a loss. But the upward trend resumed two years later. As manufacturing output recovered in the years after the war, Fiat introduced the Fiat 500B, which was available to customers as a sedan or as a station wagon.  When the 500C was released it offered for the first time, heating and ventilation installed as standard equipment. The first vehicles that were equipped with a diesel engine were driven off the assembly line in 1953.

Almost 60 years on from that first diesel engine FIAT is still going strong even though it has had its ups and downs.

Tags: Car Insurance, Cheap Car Insurance, FIAT, Italy, Motor, motoring
Posted in Car Insurance, Car Safety, Cheap Car Insurance, FIAT, Italy, Savings | No Comments »

What is my Car Insurance Quote Based On?

Friday, June 5th, 2009

Your car insurance quote is based on the following:

  • Personal Circumstances
  • External Factors
  • The level of cover you require

Personal Circumstances

The Insurance Group of your Car - Each make and model of vehicle is assigned an insurance category, based on various factors including the car’s value, performance and cost to repair.

Click here for more information on Car Insurance Groups.

Age and Experience as a driver - If you are under 25 or have only been driving for a short while, then your car insurance will be more expensive because statistics show that the younger and more inexperienced you are the more likely you are to have an accident. More experienced drivers can expect a lower premium.

If you have a teenage son or daughter it is usually cheaper to insure them on your own car on your policy for a short while, rather than have them get their own policy on a car. Another tip to reduce your premium is to take an advanced driving course, which are run by most driving instructors.

Insurance History - No Claims Discounts - Drivers who do not claim on their insurance get ‘no claims’ discounts. Typically the discount can range from 30% - 65% depending on how long it’s been since you last claimed.

Your Address - The cost of your premium may be affected by where you live. The installation of additional security e.g. locks, alarms, immobilisers etc can help reduce costs.

Your Occupation - What you do for a living may also affect the cost of your car insurance, as some occupations are considered more high risk than others.

Excess - Your excess is the amount which you are willing pay towards the cost of any repairs. For example, if your excess is £200, and the repairs to your vehicle cost £1800, then you will pay £200 and your insurance company will pay £1600.

You can decide how much your excess is - the more your willing to pay out, the lower your premium.

External Factors

Uninsured Drivers - Surprisingly, official statistics state that 1 in 20 drivers are uninsured and other statistics have previously stated then this number could actually be nearer to 1 in 10 drivers. Insurance premiums are affected by this and it is said that around £30 of your insurance premium is to cover the fact that you may be in an accident with an uninsured driver.

Litigation - Personal injury claims following car accidents are on the rise as our society is becoming increasingly litigious. As it is the insurance companies who foot the bill for any financial compensation awarded by the courts this has caused premiums to rise.

Medical Expenses - The accident and emergency part of the NHS can now claim back the cost of treatment (and ambulance) from insurance companies. As medical expenses increase, again the costs of policies rise.

Stock Markets - Insurance premiums are becoming higher because the money which is paid for insurance is often invested by insurance companies until a payout is necessary. This means that whilst the state of the stock market remains unstable, premiums are likely to increase.

Tags: Auto, Car, Car Insurance, Car Insurance Quote, Motor, Quote
Posted in Car Insurance, Car Insurance Cover Types | No Comments »

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