People buying car insurance are being given longer to shop around for a better price.

From today, new Central Bank rules mean the renewal notification period for policyholders is being extended from 15 days to 20.

Insurers must also clearly display the premium the customer paid last year, on the same page as their proposed new quote.

They will have to give a price for each policy available, including comprehensive, third party fire and theft cover, or third party only.

Gráinne McEvoy, Director of Consumer Protection at the Central Bank, says this is the latest in a series of reforms of the sector.

 

 

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