Is the annual insurance shuffle over?

[Lightning]

Insurers must not penalise loyal customers, says FCA https://www.bbc.co.uk/news/business-57270415

 

[WelshGas]

Insurers must not penalise loyal customers, says FCA https://www.bbc.co.uk/news/business-57270415

As you say, the " Shuffle " should be over but somehow I can't help thinking the Insurance companies will come up with something to circumvent the FCA ruling. We can but live in hope.

 

[Mickyb123]

Just means prices going up I reckon

 

[SusiBus]

Everyone will pay a higher price. Those that who have played the game of changing annually, will lose the opportunity to save money.

 

[Lightning]

Everyone will pay a higher price. Those that who have played the game of changing annually, will lose the opportunity to save money.

This is what happened when they banned unauthorised overdraft charges. I used to get a free agreed overdraft, now I pay 40% APR on any money overdrawn for any period of time.

 

[The Blue Merle]

This is what happened when they banned unauthorised overdraft charges. I used to get a free agreed overdraft, now I pay 40% APR on any money overdrawn for any period of time.

You can still get extra overdraft buffers for free, try doing a shuffle

 

[Wildcamper]

This is what happened when they banned unauthorised overdraft charges. I used to get a free agreed overdraft, now I pay 40% APR on any money overdrawn for any period of time.

I suppose it depends on personal circumstances but is it not the best policy to not have an overdraft? We have never had one, maybe just lucky.

 

[Lightning]

I suppose it depends on personal circumstances but is it not the best policy to not have an overdraft? We have never had one, maybe just lucky.

I only use it very occasionally now. I used it more when it was free, just for convenience.

 

[The Blue Merle]

It’s just a free buffer you can have with or without an overdraft. All banks use to do it.

 

[Lightning]

It’s just a free buffer you can have with or without an overdraft. All banks use to do it.

My agreed overdraft value is/ was £5k It’s not really a small buffer that I would find useful.

 

[The Blue Merle]

My agreed overdraft value is/ was £5k It’s not really a small buffer that I would find useful.

The extra buffer is on top of whatever you have normally £500 extra and free, some banks stopped it and some still offer it.

 

[Lightning]

The extra buffer is on top of whatever you have normally £500 extra and free, some banks stopped it and some still offer it.

Oh right. It’s not enough of a problem for me to change banks, but good to know.

 

[El Greco]

Comfort sent my Cali renewal a couple of weeks ago. The premium asked for was double from what I paid last year and I have been been with them for 5 years. Needless to say, I went elsewhere for less than I paid last year.

Hopefully the new regulations will remove this sort of stupidity and offer a more even premium year on year albeit perhaps a little higher.

Let's see what happens next year!!

 

[Mickyb123]

Just had my LV renewal, no change to last year