Drivers are confronted with top-up auto insurance as corporations think about hidden charges – The Telegraph
Auto insurers have launched a clandestine crackdown on motorists after increasing hidden fees that cost policyholders hundreds of pounds a year.
According to insurer Cuvva, motorists now pay an average of around £ 124 on top of their existing bill in fees that are hidden in the fine print and not obvious to the buyer.
According to Defaqto, an analyst, more than four in ten policies include a "setup fee" initially, typically around £ 60, a threefold increase since 2016 when it was included in just 14 percent of deals.
Renewal fees, which can be up to £ 40, have also become more widespread. About 44 percent of policies have these fees today, compared to just 9 percent five years ago.
More than half of all deals now incur a cancellation fee within the legal 14 day cooling off period, which can be £ 60 or more.