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Soon, your insurance premiums will not be allowed to creep up every year if your circumstances don't change

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Steve30000
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Soon, your insurance premiums will not be allowed to creep up every year if your circumstances don't change

Post by Steve30000 »

https://www.moneysavingexpert.com/news/ ... rs-at-ren/

About time.. Pure greed.

Car and home insurance customers should pay no more when renewing their policy than they would if they were taking out a new one with the same firm, under radical new proposals from the financial regulator.

Currently insurers often gradually renew the renewal price for existing customers over time, known as "price-walking". This is why the best prices are usually for new customers and you should NEVER auto-renew.



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Trish
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Re: Soon, your insurance premiums will not be allowed to creep up every year if your circumstances don't change

Post by Trish »

Excellent news and about time :cheers:


My kids are like little Black Cats
:mrgreen:

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Nockya
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Re: Soon, your insurance premiums will not be allowed to creep up every year if your circumstances don't change

Post by Nockya »

Only right and better late than never.
Just remember that a few weeks before your insurance is up they should send a reminder and this is the time you need to look around for different quotes.
Never leave it until the last minute or you might find you will pay more!



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Sunderland Nut
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Re: Soon, your insurance premiums will not be allowed to creep up every year if your circumstances don't change

Post by Sunderland Nut »

Nockya wrote: 23 Sep 2020, 13:45
Never leave it until the last minute or you might find you will pay more!
Too true, they will exploit the situation.



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Steve30000
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Re: Soon, your insurance premiums will not be allowed to creep up every year if your circumstances don't change

Post by Steve30000 »

Trish wrote: 23 Sep 2020, 09:59 Excellent news and about time :cheers:
Agree. It's completely wrong that they've been allowed to do this for as long as they have.



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Sunderland Nut
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Re: Soon, your insurance premiums will not be allowed to creep up every year if your circumstances don't change

Post by Sunderland Nut »

My insurance company wrote and told me they will not be renewing my insurance so I had to look around anyway.



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