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Martin Lewis issues urgent advice for car owners during lockdown
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dailyrecord.co.ukMany car insurance companies have pledged to support struggling motorists throughout the coronavirus crisis. From Wednesday, May 13, insurance firms will be expected to allow customers to defer payments while keeping their cover in place.Some companies are already offering payment holidays or the option to temporarily reduce payments to help manage their finances.
The Financial Conduct Authority (FCA) says payment holidays should last for between one and three months, but their proposed guidelines don’t restrict firms going further to help customers.
The FCA has also told insurance firms they must ensure general policyholders are getting value for money during the Covid-19 pandmeic.
Read more on dailyrecord.co.uk
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