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Martin Lewis issues ‘urgent warning’ on car insurance as rules set to ‘radically’ change

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They said millions of customers “lose out” if they repeatedly renew with their existing provider.

In 2018, around six million policyholders would have saved £1.2billion if they had paid the correct price for their average risk.

They warn the new ban on price-walking could save consumers around £4.2billion over 10 years.

However, the FCA warns the new rule means insurers would likely “no longer offer substantially low-priced deals”.

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