Defaqto: Direct debit fees unclear for people with car insurance for young drivers

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Defaqto: Direct debit fees unclear for people with car insurance for young drivers

Wed 18th Aug 2010

People with car insurance for young drivers do not always know what they are paying in direct debit fees, Defaqto has warned.

According to the independent financial research group, car insurance providers are not always very clear to consumers about the size of the fees they charge.

Mike Powell, an insurance analyst at Defaqto, described this lack of clarity as a concern.

"Professional researchers sometimes struggle to find this information, so what chance does an uninitiated customer stand?" he commented.

However, new figures from Gocompare.com have revealed that many car insurance customers are actively looking to reduce the amount they pay out on their premiums.

More than two-thirds of those polled were found to have compared premiums in the last year in order to get the best possible deals.

Nevertheless, the price comparison site discovered that consumers largely fail to check or compare their financial arrangements when they have been put in place.

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