Research by GoCompare car insurance revealed there’s still a lack of understanding about motor insurance and excesses. Just over 2000 people took part in the survey which found that just 28% of motorists check their excess levels when taking out a policy: 36% of motorists said they just go for the cheapest price when they’re buying a policy, and when it came to younger drivers – those aged 18-34 … [Read more...]
Insurance terms are baffling to drivers
One in seven UK adults admit they have no understanding of how excesses on insurance policies work, says GoCompare car insurance. Of the 2000 people who were interviewed as part of the research, a fifth – 21% - also said they don’t understand or are not sure of the difference between compulsory and voluntary excess when asked by the UK comparison site. A further 41% claimed to only have … [Read more...]
Steep rise in compulsory excess on motor policies
Research from GoCompare reveals that since 2012, the average cost of compulsory car insurance excesses has risen well above the rate of inflation. Depending on their policy, drivers can now face compulsory excesses for a fire, theft or accidental damage claim of up to £3,000, compared with a maximum of £475 in 2012. Average excesses for accidental damage claims have risen by 26% from £132 in … [Read more...]