Motorists See Jump In Hidden Insurance Costs, Data Shows
Law360, London (August 13, 2019, 2:11 PM BST) -- Car insurers have pushed up the cost of hidden administration fees in their policies by as much as 50% since 2012, according to new data from a comparison-shopping website.
Fine-print fees in motor insurance policies have become more common as well as more costly, figures released by GoCompare on Monday show. Administrative costs, which include cancellation fees and charges for policy adjustments and setting up, have jumped at twice the rate of inflation.
Lee Griffin, GoCompare’s chief executive, said the highly competitive car insurance industry has led some companies to drive up administrative fees as a way of keeping premiums lower....
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