Martin Lewis, the renowned Money Saving Expert, has offered crucial advice to individuals seeking new car insurance deals, particularly as recent research indicates a significant rise in premiums by £279 over the past 12 months.
According to Lewis, insurance companies are legally obligated to provide existing customers with the same rates offered to new customers. He emphasized, “If you buy a policy, they are legally obliged to reduce it to the price they were offering to new customers because of the law that says existing customers cannot be charged more than new customers.”
