‘Stripped-back’ policies may lead to consumer confusion
Fairer Finance has warned that ‘stripped-back’ motor insurance policies may lead to greater consumer misunderstanding unless insurers begin to communicate clearer.
Analysis by the consumer group found that insurers are introducing ‘essentials’ cover in order to provide alternatives amid a premium surge of 67% in the last year.
Among the largest 10 car insurers
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Insurers continue to face the challenge of distinguishing and differentiating themselves on anything other than being among the cheapest providers.