Insurance

If you bought (or just got quotes for) car or home insurance on Friday 19 July, it's possible you didn't see some of the cheapest deals, as some insurers were unable to offer quotes due to widespread IT problems. It means you may have been offered fewer options and/or higher prices than normal. Here's what you need to know.

You could HALVE the cost of your car and home insurance just by getting renewal quotes on the right day. MoneySavingExpert.com founder Martin Lewis shared the tip and explained why it works on ITV's The Martin Lewis Money Show Live.

If you've renewed your Churchill, Direct Line or Privilege home or car insurance since 1 January 2022 you may be owed a refund. This comes after Direct Line Group, which all three brands come under, flouted rules designed to prevent loyal customers from being charged more than new users. 

Urgent action is needed from the financial watchdog to prevent vulnerable people from being overcharged for insurance products. Charity the Money and Mental Health Policy Institute (MMHPI), which was set-up by MoneySavingExpert.com founder Martin Lewis, has issued the calls after finding people with mental health problems are being charged 27 times more for insurance than non-sufferers.

The Financial Conduct Authority's executive director of strategy and competition Christopher Woolard explains why the regulator is examining how insurance firms set prices. Views do not necessarily reflect those of MoneySavingExpert.com.

RAC breakdown cover policyholders will see prices hiked, in some cases by more than 30%, at renewal. But if you've had a notification of a price rise, you don't have to accept it. You may be able to leave penalty-free, or haggle to get the price lowered.

The UK financial regulator has confirmed plans for a sweeping overhaul aimed at stopping financial firms mistreating consumers and to ensure, among a raft of other measures, that companies are not able to leave existing customers languishing on poor deals while new ones are offered the best rates.

Ethnic minorities pay more than white people for car insurance, research from Citizens Advice has shown, with the charity arguing that the price differences are a result of an "ethnicity penalty".

MCE Insurance Company, which was one of the UK's biggest motorbike insurers, is to cancel all of its 105,000 remaining policies after falling into administration last year. The moves comes despite the insurer initially promising to honour existing cover.

From the reintroduction of costly European roaming charges to new rules around car and home insurance - here's a quick breakdown of five key events and changes that are set to impact your finances in early 2022 and, more importantly, what to do about them.