1.3million of us make a car insurance mistake costing up to £155
"Insurers need to be transparent about the fees they charge and products need to meet customers' needs."
10:41, 15 MAR 2021
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Cancelling annual car insurance before a policy is up costs UK drivers millions of pounds in additional charges every year, reveals flexible insurance provider, Cuvva.
According to data from LexisNexis, around 1.3 million car insurance policies are cancelled each year in the UK. With insurers charging an average cancellation fee of £55, Cuvva has calculated drivers fork out in the region of £71.5 million each year in extra fees to end their annual policy early.