Insurance Renewal Checklist

Checklist

Before accepting renewal

Renewal date is in the calendar at least 3 weeks before cover ends.
Current premium, excess and add-ons are written down.
Monthly-payment cost has been compared with annual payment.
New quotes are like-for-like on excess, mileage, drivers, contents and add-ons.
Auto-renewal setting and cancellation route are understood.
Any cashback or voucher offer is treated as secondary, not the main reason.

What changed

FCA renewal-pricing rules are helpful, but not magic

The FCA says renewal quotes for home and motor insurance should not be more than an equivalent new-customer price through the same channel. That does not mean your renewal is the cheapest market price, or that add-ons and monthly-payment costs are good value.

Sources

Sources and useful links

FCA: fairer home and motor insurance renewals
FCA: transparency in insurance renewals

Insurance renewal checklist

Before accepting renewal

Compare renewal versus new quote

FCA renewal-pricing rules are helpful, but not magic

Sources and useful links