 Insurance |
| Search News |
|
|
| Find an IFA |
|
|
| Browse |
|
| UK Spotlight |
News that Alex Salmond, the leader of the ruling SNP in Scotland, has been somewhat liberal with his recent comments about housing budgets and assistance has caught the attention of opposition...
→
Read More
|
|
| Disclaimer |
| Financialadvice.co.uk adheres to the Financial
Services and Markets Act 2000. This site contains only factual and
readily available public information. |
|
|
|
mortgage
For mortgage deals without hidden costs or commissions, visit the link above.
|
|
|
|
|
|
Thursday 27th March 2008
Britons are paying out huge sums in fees to car insurance providers every year to make amendments to their policies, it has been revealed.
The fees are charged by providers when drivers fail to notify them of changes which could invalidate their policies.
These include a change of address or name or improvements to vehicles.
Price comparison site uSwitch.com calculates that some £333 million was raked in by insurers in this way last year and claims that many consumers are being stung by unnecessarily high charges.
Ashton Berkhauer, insurance expert at uSwitch.com, said the findings of the survey were evidence that more standardisation was required in fee-charging practices used by insurers.
He commented: "Consumers need to know where they stand and the easiest way to do this is for the amount providers charge to be consistent across the insurance industry.
"This would make it clearer for consumers and bring transparency to the market. Currently, making an adjustment to your policy can cost you from £0 to £25 and the price for cancelling a policy mid-term can be unlimited."
|
→ Full Insurance News Archive
→ Return to Homepage |
|
|
|
| Other top stories in this section:
|
|
|
|
.gif)
.gif)
