uSwitch calls for regulation on consumer fees and charges
As the car insurance industry scoops £333 million a year for amending policies, but there is no regulation in place to control the amount of money it can squeeze out of consumers for fees and charges, according to uSwitch.com.
An investigation from uSwitch.com, the independent price comparison and switching service, has revealed that motorists are being charged an average fee of £22 just for amending simple details on their car insurance policy.
Other findgins include:
14 million motorists across Britain are hit by additional fees on their car insurance policy every year costing them a staggering £333m The average fee charged by car insurance providers is £22 for duplicate documents, policy amendments andOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Personal
Biba 2024: Aviva not afraid of ‘tough’ conversations, but ‘categorially’ committed to broker PL, says MD Morris
Aviva has reiterated its commitment to brokered personal lines business, although it is not opposed to a bit of ‘tough’ love to maintain a consistent approach to the market.
Biba launches guide on commissions
The British Insurance Brokers’ Association has launched a guide at its 2024 conference designed to help demystify the commission model.
Are Northern Ireland brokers feeling the personal lines capacity squeeze more than most?
With prices rising faster in personal motor and household than other parts of the UK, brokers in Northern Ireland have good reason to be worried about remaining competitive. Siân Barton gets to the root of the issue and explores what is being done to address it.
A-Plan boosts revenue and turnover in run-up to rebrand
A-Plan achieved double-digit growth in turnover and profits in the run-up to rebranding as Howden, a filing at Companies House has revealed.
Transparency, team and targets – Zurich boss David Nichols ready to meet and greet brokers at Biba
One year on from his first British Insurance Brokers’ Association conference in the Zurich hotseat, UK head of retail David Nichols shares his key messages for brokers ahead of the upcoming event in Manchester.
EY predicts three years of slowing premium income growth for insurers
EY has forecast UK non-life insurance premium income growth will slow to 7% in 2024, from 8.7% in 2023, dropping again to 5.1% in 2025 and 3.8% in 2026.
ABI records 3% home premiums rise in Q1
Average home insurance premiums for buildings and contents cover rose by 3% to £375 in the first quarter of this year, pushing the year-on-year rise up to 19%, according to the Association of British Insurers.
Flood Re raises levy and liability and loss limits
Flood Re has increased the annual insurance industry levy by £25m to £160m from next April, in a string of changes it said were designed to keep flood insurance available and affordable.
Most read
- ‘Not right’: Biba CEO Trudgill reveals sad letter of small broker crushed by regulation
- Jensten wholesale division split sees MD Simon Taylor exit
- Biba 2024: Aviva not afraid of ‘tough’ conversations, but ‘categorially’ committed to broker PL, says MD Morris