Britain’s Financial Conduct Authority (FCA) has begun a review of insurance price comparison websites.

The regulator will examine 14 sites that represent 90% of the motor, travel and home markets, to “gain a clearer understanding of whether the way information is presented gets consumers the fairest deal”.

About 80% of UK consumers buy insurance through comparators.

The FCA says it is concerned about the “expectation gap”, whereby people save money but find they are not covered when they make a claim.

It wants to know if there is too much focus on the headline price and whether consumers might be misled into buying products or add-ons that do not meet their needs.

The FCA will also consider conflicts of interest, such as whether a recommended insurer owns the site, and whether companies comply with regulatory responsibilities.