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Car insurance address change charges

thecornflake · 2021-01-29 11:52:00

Hi, Sorry if this has already been covered elsewhere. My elderly parents are moving house and although I've done some address changes online for them with the free service at iammoving they are doing some by phone. Swinton told them there is a £25 admin charge for doing this but it's free if they create an account online…

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kingstreet Posts: 39,264 Forumite

1 February 2021 at 3:12PM

The concept of overt fees is easier to imagine if you think that each part of a business is separate. Alterations therefore has its own income and expenditure and the costs of all alterations have to be met by all the alterations income.
Alternatively, you look at covert charges where the premiums would normally be higher as they cover new business costs, alterations, collections etc.
For many years now the regulators have preferred overt charges where those who cause the expense meet the expense.

I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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Car insurance address change charges

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