Additional insurance fees cost drivers £333m

Motorists are being charged an average fee of £22 for amending simple details on their car insurance policy, according to new research.

Findings from uSwitch showed that with 14 million consumers making changes every year, drivers are collectively £333 million out of pocket each year.

The company states there is no legislation in place to protect consumers from excessive charges and fees, something which it says needs rectifying.

Ashton Berkhauer, insurance expert at uSwitch.com, said that 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,” he continued.

Meanwhile, further research from the company shows that extending insurance to cover the duration of a trip abroad can cost motorists up to £510.

Tags: amount, Ashton Berkhauer, additional insurance, excessive charges, trip, car insurance policy, fee, com