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Car insurance fees hit £333m

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 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, 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."

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