If you’re approaching your renewal date with 1ST CENTRAL, you may be interested to learn about a new regulation launched by the Financial Conduct Authority (FCA).
The regulation states that insurers must guarantee that upon renewal, an existing customer’s price is the same or cheaper than if they were a new customer. We can assure you that we’ll follow these guidelines upon calculating your renewal price.
When it comes to offering you your renewal price, there are a few things that we’ll use to guide us:
It’s worth noting that there are other variables that can impact your renewal price, such as whether or not you’ve made any claims, while adding extra features or factors such as increased mileage at renewal could also create an increase is price vs that of a new policy. You can find out more about what can affect your price here.
There’s nothing more you need to do – nearer the time, we’ll send you your renewal price, based on exactly the same cover as you have today – and the price won’t be more than if you were a new customer with us!