Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 24th of April 2018
November 24, 2009

Swiftcover launches jargon-buster for policy-shy motorist

by Gill Montia

Story link: Swiftcover launches jargon-buster for policy-shy motorist

Swiftcover.com is claiming that almost one in five UK drivers think car insurance policies are designed to be confusing.

In a recent survey, the firm found that 42% of motorist struggle to understand the terms used by their insurer, leaving them unaware of precise terms.

Surprisingly, 23% of respondents could not define “voluntary excess” despite being aware that raising an excess can reduce premiums.

In addition, 17% of drivers wrongly believed that “fully comprehensive” cover meant they are insured to drive any car, while 9% interpreted the term as meaning anybody could drive their car.

The research also revealed that 17% of motorists never read their car insurance policies.

By way of remedy, swiftcover.com has launched an online insurance jargon-buster which it claims makes insurance terms clearer and can help drivers get the right cover for their needs at the right price.

Last month, swiftcover alerted UK motorists to new research from the US suggesting that drivers with so-called “territorial markings”, such as stickers or fluffy dice, are more likely to be prone to anger behind the wheel.

However, the firm’s own research found that only 3% of UK drivers display car stickers, although almost 13% said they had an ornament hanging from their rear-view mirror.

 

News posted:



Related stories to Swiftcover launches jargon-buster for policy-shy motorist: