Media comment: FCA recommendations on insurance renewals

Thursday 11th August

Nick Hill, Money Expert at the Money Advice Service comments on FCA’s recommendations on insurance renewals:

“Many of us buy items and subscriptions such as insurances which automatically renew, often on a yearly basis. This can give peace of mind that you won’t have a gap in service. However, the danger is you are paying more than you have to. It’s good to see that providers will provide stronger reminders to shop around. So take advantage of these reminders and shop around. I would suggest using at least two comparison sites to compare the best options for you. Or if you struggling, try finding a broker to do the leg work for you. You can find more information about what to look out for when shopping for insurance on the Money Advice Service website.”

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