Ryan Fulthorpe, Go Compare’s car insurance spokesman, said the end of higher fees for current customers was “long-awaited” by many. However, he has urged road users to continue to compare quotes against other insurers even if the savings may not be as competitive as they used to be.
“There are still hundreds of other insurance companies who will all provide different and potentially more competitive quotes.
“So, while your current insurance company could offer you one price, it’s still important to shop around and see the other prices that are out there.
“If a customer’s circumstances have changed since their last renewal, such as making a claim, changing their vehicle or moving house, this must not be different the price offered to new customers.”
Go Compare has previously warned drivers were losing around £1.2billion worth of savings through greedy price walking strategies.
He said: “These measures will put an end to the very high prices paid by many loyal customers.
“Consumers can still benefit from shopping around or negotiating with their current provider.
“But they won’t be charged more at renewal just for being an existing customer.”