What changed
The Financial Conduct Authority’s general insurance pricing rules took effect on 1 January 2022. For home and motor insurance, the price offered to a renewing customer must be no higher than the price that customer would be offered as a new customer through the same channel (for example, the insurer’s own website or a particular comparison site). The practice the rules targeted, gradually raising prices for loyal customers, was known as “price walking”.
What the rules don’t do
- They don’t freeze prices: your premium can still rise if your risk changes or if prices rise generally.
- They don’t guarantee the cheapest price in the market; a different insurer may offer less.
- They compare channels separately, so a price on a comparison site can still differ from the insurer’s own website.
Auto-renewal
The same package of rules made it easier to stop automatic renewal: firms must offer straightforward ways to cancel auto-renewal, including the same method you used to buy. Check your renewal notice for the deadline.
How to use your renewal well
- Read the renewal notice and compare it with last year’s cover, not just the price.
- Update details: a new car, extension, security improvements, change of job.
- Get comparable quotes, including direct insurers.
- Ask your insurer about the options; sometimes changing the excess or extras makes a difference.
See how to compare insurance properly.
Last updated: 15 September 2026
