New motorcar insurance guidelines 2022 are a "massive shift" and the "loss of life bell" for constancy penalties – Specific
Ryan Fulthorpe, auto insurance spokesman for Go Compare auto insurance, said the end of higher fees for existing customers was "long awaited" by many. However, he has urged road users to keep comparing offers with other insurers, even if the savings may not be as competitive as they used to be.
“There are still hundreds of other insurance companies, all of which have different and potentially more competitive offers.
“Although your current insurance company might offer you a price, it's still important to look around and see the other prices that are out there.
"If a customer's circumstances have changed since the last renewal, such as:
Go Compare previously warned that greedy price-walking strategies would result in savings of around £ 1.2 billion in savings for drivers.
He said: “These measures will put an end to the very high prices of many loyal customers.
“Consumers can still benefit from shopping or negotiating with their current supplier.
"But you will no longer be charged when you renew just because you are an existing customer."