The call comes after research by aggregator site MoneySuperMarket
An MP based in the North East has called for the FCA to take action over automatic policy renewals, after a survey by MoneySuperMarket found his constituents could save millions of pounds by switching.
Grahame Morris, MP for Easington in County Durham, found that constituents in his area could be saving a total of £1.5m if they switched policies at renewal time.
He said: “This is money that many can’t afford to waste. The regulator must take decisive action to put drivers back in control of their insurance.”
“People shouldn’t have payments taken automatically from their accounts unless they have given their explicit consent.”
The research, conducted by the aggregator site, found that auto renewals were costing UK motor customers £1.3bn each year.