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All drivers are warned to prepare for major changes to car insurance

All drivers are warned to prepare for major changes to car insurance

Drivers are being told there could be big changes to how much they pay for car insurance. Premiums have soared in the past two years, with millions of drivers reporting exorbitant charges.

But now drivers are being promised changes to the car insurance system and lower prices. The promise has been made by the new Labour Government, which insists drivers are being ripped off by car insurance prices that are too high.




The party says rates have spiralled “out of control” and are a major contributing factor to cost-of-living problems, as insurance is a legal requirement and drivers have no choice about having it. Labour is ready to lobby the Competition and Markets Authority and the Financial Conduct Authority to force insurers to cut costs.

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It is not yet clear how long families will have to wait before they see their premiums start to fall. Money expert Martin Lewis has been among the fierce critics of high insurance costs, insisting they are far too high. Some drivers have reported costs rising by hundreds, or even thousands, of pounds, with the most disadvantaged forced to give up driving by unaffordable rates.

New Transport Secretary Louise Haigh told the Mirror: “Car insurance is a legal and essential requirement – ​​not a luxury. The Labour Party will not sit by and watch as drivers are punished by the spiralling cost of cover.

“We will urgently call on regulators to crack down on any unfair practices and shine a light on the causes of rising costs for consumers.” Labour has also promised to fix around a million potholes on Britain’s crumbling roads in a short time to reduce damage to cars and subsequent claims to insurers.