Essential to look at small print when taking out car insurance
Mon, 09 May 2005
Consumers are being urged to examine the small print of their car insurance policies in order to ensure they have adequate cover.
Independent financial advisers (IFAs) have raised concerns that many companies are using the small print to hide additional charges and stringent clauses.
In addition, IFAs believe that the Financial Services Authority (FSA) should do more to ensure that companies do not misrepresent products or take advantage of customers by making exaggerated claims.
"I have a lot of sympathy with this view. I've been saying this to the FSA in the context of compensation for some time," David Severn, director general of the association of IFAs told Reuters.
"IFAs are professionals and one expects competence from them but there is far too little responsibility placed on manufacturers."
© DeHavilland Information Services plc
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