As of the 1st January, the insurance ‘loyalty penalty’ will theoretically become a thing of the past. Car and home insurers will be banned from quoting their existing customers a higher price for renewing their insurance than they’d pay if they were a new customer. This should stop the currently widespread practice of ‘price walking’, in which insurers increase premiums each year for their long-term customers
There’s an immediate benefit, in home insurance, of some £80 pa, approx 25%, for me … 
Our car and home insurers have been quoting us renewal premiums very close to what we paid the previous year for the same cover for the last 4 or 5 years. So far, we haven’t changed companies over that time but, we still check on the comparison sites to make sure we are not being ripped off.
You’ll know you’ve been ripped off if your premium falls … 
I don’t think our premiums will fall because they haven’t risen much more than by inflation each year since we started with the companies. In any case, checking against the comparison sites makes sure we don’t get ripped off.
What you think may be incorrect - you won’t know until you get your renewal letter.
I’ll know for sure in about 10 weeks when my car insurance is up for renewal.
Exactly … 
I was quoted £315 to renew BMW insurance on 2/01/22
A quick look on a comparison website and I got it for £172
AND it was a better deal!
go figure
That’s a £143 I’d rather keep in the bank thanks very much!!!
That’s because they know that BMW drivers are rich!
It’s just a lazy tax
