How the latest FCA Pricing Practices could impact your home or car insurance renewal

What the changes in regulations are about, and what they could mean for you.

In short, the changes in regulations, that apply to insurance providers from 1 January 2022, mean that if you're already a customer, your motor or home renewal price will be the same as or lower than an equivalent price for a new customer.

The regulations also mean that, for most general insurance policies, you’ll have the ability to opt out of auto-renewal at any point in your cover term. Insurers must also make it clear where the cost of your insurance will be higher if you pay monthly than if you pay annually.

Here we’ve answered some of the questions you may have about these changes.


Frequently asked questions

Will the new guidelines mean my renewal price will come down?

Why is my renewal price different?

I didn’t make any changes, why is my premium higher?

Are you, and other insurers, increasing premiums to cover the cost of the new rules?

Does my renewal price have a loyalty penalty on it?

I got a new quote from you online which is cheaper than my renewal price – is this still allowed? Isn't this an example of price walking?

Does the FCA review affect my AvivaPlus Renewal Price Guarantee?

Why have I found a better price from you on a price comparison website?

Should I shop around for a better quote from other providers?

Does this affect the complaint I previously raised about my renewal price?