Cars: Motor Insurance
The question
To ask the Secretary of State for Transport, whether she has received recent representations on the potential merits of regulating the pricing of car insurance with reference to a customer's postcode.
Answered by Lilian Greenwood
Motor insurers are responsible for setting premiums based on their assessment of the risk a driver poses, and postcode is one of the criteria. We recommend that consumers shop around to get the best deal.
I am aware of the challenges facing motorists on the high cost of motor insurance. We are engaging with the motor insurance industry to understand the causes of increased premiums and identify potential solutions.
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