What does Fair Pricing Mean?
From January 2022, all insurance providers have to make sure the price they are offering existing renewal customers is no higher than what they would offer if selling a new policy, through the same channel with exactly the same information and level of cover.
The rule also means that all insurers must make it clearer and easier for customers to cancel an automatic renewal.
To find out more about Fair Pricing, please visit the FCA website here.
Do the Fair Pricing rules apply to everyone?
These rules apply to all insurers for motor, home and domestic van insurance.
What's changing?
When you come to renew your insurance, the price we quote you as an existing customer will be no higher than the equivalent price for a new customer who came through the same channel, with exactly the same information and level of cover.
Will my renewal from last year be cheaper this time?
Not necessarily. Your renewal price could either go up or down depending on what has happened during the last 12 months. For example, if you've made a claim or changed your annual mileage, this could impact the renewal price. Rest assured though, at Swinton we work hard to get the best price for all our customers.
What do I need to do?
You don't need to do anything - you will get your renewal invite as normal and this will show your price for this year and last year, making it easy for you to compare.