Drivers have just three days left to lock in a top car insurance deal before major change

DRIVERS have just three days left to lock in deals on their car insurance before a major change to the rules.

From January 1, insurance companies will be banned from charging existing customers more than new ones.

Loyal customers who stick with an insurer often pay more for their policy - something dubbed the loyalty penalty.

Drivers can usually find a better deal when it's time for their insurance renewal by shopping around, or even haggling with their current provider.

Renewal quotes are often far higher than those for new customers - sometimes even hundreds of pounds more.

But the financial regulator announced new rules earlier this year to prevent this happening - and they are due to come into force from January 1, 2022.

The Financial Conduct Authority (FCA) estimates Brits could save billions over the next 10 years because of the shake-up.

There are warnings that the ban on charging existing customers more than new ones could lead to price hikes for everyone.

And motorists have been advised to check NOW if they could get a better deal if their policy expires this month.

You'll usually get a letter from your insurance company telling you when you're policy is up for renewel - and how much it plans to charge you.

Usually this will renew automatically unless you've opted out, and it could be at a higher price.

You don't have to accept this, though.

Using comparison websites you can get a quote from other insurers and see if you can get a better deal.

It's best to use a couple of different sites, as they may not list all insurance companies.

Some insurance companies like Direct Line are also not listed on any comparison sites, but you can go direct to get a quote.

You'll also want to check that you're getting the same cover as your current policy.

Or if you've had a change of circumstances, make sure to include this in an updated quote.

You can use the quotes to try and haggle a similar price with your current provider - or get them to beat it.

If they can't you can go with a new provider offering a better deal.

According to Compare The Market, shopping around for car insurance could save you £262 annually.

Meanwhile, renewing your insurance exactly 20 days before the expiry date could save you an average £306.

These car checks could add hundreds of pounds to the value of your vehicle.