Average policy excess has risen £41 this year, says Uswitch
Price comparison service Uswitch says motor insurers could save £154m by raising excess charges to recoup money lost through fraudulent claims, the Express reports.
Drivers will now have to pay an average of £170 voluntary excess, an increase of £41 on last year.
With one in five drivers claiming on their car insurance each year, providers will save £154m more from excess increases in the next 12 months.
“Hiking hidden charges and exploiting consumers who don’t have the time or the inclination to scrutinise the small print is really sneaky in such a tense economic climate,” said Mark Monteiro from Uswitch. “Most people don’t even know they could be hit with two excess charges in the event of an accident.”
He adds that while most consumers are familiar with voluntary excess, a compulsory tariff can often “slip under the radar” when selecting a new policy.