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Old 28-05-2021, 15:37   #1
joglynne
Born again teenager.
 
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Join Date: Feb 2007
Location: Manchester. (VM area 20)
Age: 75
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Posts: 13,693
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Loyalty penalties to be banned.Car & Home insurance.

Loyalty penalty ban to save insurance customers £4.2bn.

From next January, car and home insurance renewal quotes may not be any more expensive than those offered to new customers.

https://www.fca.org.uk/news/press-re...urance-markets

After renegotiating the quotes given on both policies down to new customer levels our Car and Home insurance company (Saga) gave us a 3 year fixed price Insurance premium on both the policies last year.

Slightly dearer than some other company's quotes last year but this year what we have paid is very competitive with other quotes I found on comparison sites. .

It will be interesting to see how the new legislation works and how it effects costing for both customers and insurers.
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"I intend to live forever, or die trying" - Groucho Marx..... "but whilst I do I shall do so disgracefully." Jo Glynne
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