Need help with a car accident compensation claim?
Some car insurance companies are charging “eye-watering” fees on top of annual premiums, according to the consumer organisation, Which? in a recent study
It found that some insurance companies charged up to £75 for cancelling a policy – even in the cooling-off period. Others charge £50 to renew a policy or £30 for duplicate documents.
In response, the industry argued that overall premiums had fallen and that the market was highly competitive.
So that’s alright then. For a minute we thought that the ABI was justifying this type of shabby behaviour as a legitimate tactic to claw back profit from hard-pressed motorists.
Make no mistake, these are the people who bleated to the coalition government about the cost of road traffic accident compensation claims ‘crippling’ the insurance industry. They got their own way back in 2011 but re-shaping the UK insurance industry in their own image and likeness is patently not enough for the ABI.
In its study, Which? looked at fees being charged by 44 UK car insurers.
It found that one company, IGO4, charged £35 for adjustment fees, such as changing your name, your address or your job.
Five other companies did not charge anything.
Another company, 1st Central, charged £50 to renew a policy, while most other companies process renewals for free.
Axa Direct and Swiftcover both charged £30 to provide duplicate documents – again a service that is usually free.
Other companies charged considerably more than their rivals when it came to paying monthly, rather than annually.
“We’ve found some insurers charging customers eye-watering admin fees that can be hard to avoid,” said Richard Lloyd, the executive director of Which? “We want companies to ensure their fees reflect actual costs, and aren’t just a way to squeeze more money from customers.”
In an ironic twist, The Association of British Insurers (ABI) advised customers to read their policy documents carefully…yes, “READ THE SMALL PRINT”…because we are probably going to rip you off.
But it agreed with Which? that extra charges should reflect the costs involved.
“In accordance with the rules of the Financial Conduct Authority and relevant legislation, the fees insurers charge must be clearly and fully set out, and broadly reflect the costs they incur,” said James Dalton, the director of general insurance policy at the ABI.
How strange that the insurance companies agree with Which? when their sharp practice has been exposed.
This is the organisation that vilifies and demonises accident victims and their families for having the temerity to claim compensation for a car accident…then for good measure it goes on to blame hurt and injured people for the rise in car insurance premiums.
As personal injury solicitors specialising in car accident compensation, Bonnar Accident Law is wise to all the dodges perpetrated by the insurance companies and their legal teams.
Don’t be fooled into thinking they are on your side, or that their lawyers are your friends. The name of their game is profit and you are a barrier to the bottom-line they would like to see eliminated from the equation.
So, get ‘independently lawyered up’, or get well and truly injured twice. We handle most road traffic accident compensation claims in Scotland on a zero percent success fee basis.
It’s No win, No fee, No worry.
Call us now on 0800 163 978.