Car insurance

Changing a name, address or job title on a car or home insurance policy, or cancelling it completely, can result in costly administration fees of up to £55, but you should challenge excessive fees if you think they're unfair.

People buying home and car insurance online are not being given clear information about the different payment options available, meaning they may struggle to compare costs, the financial regulator has announced today.

Car insurance costs fell in the first three months of the year, according to the AA, but it warns premiums could 'spiral' unless there is a crackdown on fraudulent claims.

Firms may be banned from automatically opting customers in to add-on insurance products if plans announced by the Financial Conduct Authority (FCA) today get the go-ahead.

Insurers will be unable to unfairly reject customers' claims because they have given the wrong information about an irrelevant element of their policy after the Insurance Act 2015 was enshrined in law.

Axa is the first major insurer to announce that it will start telling customers how much they paid for their insurance premium in the previous year when sending out renewal notices.

Drivers are paying about 10% less for their car insurance compared with a year ago, according to the AA. However, it warns they are likely to rise this year.

Car insurance prices may be rising, but the increasing use of pay-as-you-drive schemes – or telematics – is helping young motorists keep costs down, with premiums for this group falling by more than 21% in the last 12 months.

The cost of taking out car insurance has risen for the first time in more than two years after efforts to clamp down on fraudulent claims failed to deliver the savings insurers had anticipated, according to the AA.

The cost of car insurance could drop but you'll probably have to spend more time looking for the best price after the competition watchdog banned pricing agreements between comparison sites and car insurers.