Insurance renewal price gone up? What the rules say
A higher renewal quote is common, but for home and motor insurance there are rules about how renewal prices compare with prices for new customers.
The pricing rule
Since January 2022, the Financial Conduct Authority (FCA) has required that the renewal price for home and motor insurance is no higher than the price the same firm would offer an equivalent new customer through the same sales channel. This is often described as banning 'price walking'.
What the rule doesn't do
It does not stop prices rising. Premiums can increase because of claims costs, your claims history or changes in your circumstances. It also does not guarantee your current insurer is the cheapest on the market.
Check your renewal notice
- Compare this year's premium with last year's — renewal notices must show both.
- Check the cover, excess and any add-ons haven't changed without you noticing.
- Confirm the details used (address, car, mileage, claims) are accurate.
- Note the renewal date and whether the policy auto-renews.
Questioning the price
Ask your insurer to explain the increase. If you are unhappy with the response, you can complain, and then take it to the Financial Ombudsman Service. Comparing quotes elsewhere before your renewal date keeps your options open.
Published 5 November 2026. This guide is general information, not legal or financial advice. Rules can change and may differ across the UK — check the official sources below for your situation.
Sources
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