Martin Lewis is warning of a possible “spike” in prices across the insurance sector next year which will affect every household and motorist across the UK.
Explaining the change in the latest MoneySavingExpert.com newsletter, the consumer champion wrote: “On 1 January, as Big Ben strikes midnight and 2022 is birthed, and while the champagne corks and party poppers pop, we will enter a brave new insurance world. “This is the day the regulator, the Financial Conduct Authority, brings in new, hopefully better rules to turn the mainstream insurance market on its head.
However, in the short run this change could see a spike in prices for switchers, so this is my last chance clarion call to get quotes now, just in case.” The financial guru first
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