When did I agree to that!?


Accidentally agreeing to purchase extra insurance when you take a loan or car cover could be a thing of the past under proposals put forward by the City watchdog today. The Financial Conduct Authority will consult of changes that mean 'opt-out selling' - which involves having to untick a box in order not to buy an add-on - will be banned. This would include legal expenses sold with home insurance, breakdown or key cover sold alongside motor insurance, or protection cover for a mortgage or credit card. The Financial Conduct Authority said a study last year found the practice often resulted in consumers purchasing an insurance product they did not need. Some consumers were not even aware that they had bought an add-on. Christopher Woolard, the FCA's director of strategy and competition, said: 'This is about ensuring consumers can make the right decision on what add-on insurance they do or don't need. 'Forgetting to untick a box at the end of a purchase is not making an informed choice.