Comparing the first quarter of this year to the prior quarter, the average price for motorists renewing their insurance climbed by £8 to £436, while the average cost for a new policy jumped by £14 to £545.
To ensure that the price paid by renewing customers for motor and home insurance is no higher than the price charged to an equivalent new customer for the equivalent policy purchased through the same distribution channel, such as an insurer, broker, or price comparison…
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