Making minor changes to car and home insurance policies can cost consumers around £55 a time, according to new research conducted by Which? Money.
The study showed that 7 in ten car insurance providers and 1 in 3 home insurance providers charge customers administration fees for amending details on their policy like marital status or address.
On average, car insurance providers charge customers £21 and home insurers charge £18 for changing details on a policy. However some insurers are charging a lot more, such as young driver specialist, I-Kube which charges £55, while home insurer Bluefin has a fee of £35. Even though people expect to be charged something for duplicating policy documents, Which? Money was disappointed to find some insurers charging £30 for additional copies.
Which? chief executive, Peter Vicary-Smith said: “Whether it’s £30, £55 or an £85 fee, insurance companies are going to have a hard time trying to justify the exorbitant charges they’re billing for routine tasks such as changing an address on a policy or providing duplicate policy documents.”