The Excess Refund Reward, available through GoCompare, allows customers to get up to £250 back once their car insurance claim is settled, alleviating some financial stress.
Since its launch in July 2019, GoCompare's Excess Refund Reward has refunded over £11 million to customers, reflecting the significant impact it has made.
Only 49% of motorists fully understand voluntary and compulsory excesses in car insurance, highlighting a gap in consumer knowledge that GoCompare aims to address.
Tom Banks, a car insurance expert at Go.Compare, stated that the £11 million refunded showcases the positive outcomes of their Excess Refund Reward initiative.
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