Hidden ‘double dip’ charges hit UK car insurance customers on monthly contracts

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Financial Times 14h ago

Hidden ‘double dip’ charges hit UK car insurance customers on monthly contracts - Financial Times

Quick Summary:

Admiral and Aviva are among the car insurers that have pre-screened customers who opt to pay their premiums monthly rather than annually, one analysis of the practice found, and have raised the prices they charge such clients as a result.

However, their online information pages for customers on criteria that could push up the cost of insurance — such as driving history or address — does not include whether a customer chooses to pay monthly or annually. The companies said the criteria listed online is not exhaustive.

Its research found 79 per cent of adults in financial difficulty use such premium finance.“Double-dipping” has added another layer to already elevated costs faced by motorists who pay monthly.