| Consumers talked into loans and insurance they don't need |
Consumers are wasting thousands of pounds on financial products they do not need or which provide little benefit, including mobile phone insurance and extended warranties.Advice: For help with PPI Claims and PPI Reclaims please call 0800 043 1683. Ten products that earn big money for banks, insurance firms and retailers have been highlighted by consumer champion Which? Mobile phone insurance, which generally costs more than £100 a year, is pushed, despite most people being covered through their home insurance. Hard-sell: Many consumers sign up for phone insurance and other financial products that they do not actually need. Extended warranties on items from electrical and furniture stores are often not needed as the Sale of Goods Act 1979 offers shoppers redress if an item breaks up to six years after purchase. Many warranties can cost up to half the price of the item, so it is often cheaper to get a specialist to repair it. |
£1,431.76 from Citi Financial