A change in the way compensation is paid to accident victims means that those under 22 are set to be hit with higher insurance premiums.
With the new gender equality insurance rules coming into force today, here are seven tips on how to reduce your car insurance.
New rules mean that insurers are no longer able to take gender into account when calculating the price customers pay for insurance.
The FCA says it expects rate swaps compensation offers to increase rapidly in coming months with 210 offers already sent to customers, with 1,700 due shortly.
The UK Financial Conduct Authority says 10 offers of redress for interest rate swaps mis-selling were accepted by the end August, totalling £500,000.
The cost of car insurance has dipped by record levels, according to latest figures.
The average quote for annual comprehensive car insurance has plunged to £594.86 - a 9.8% fall from the figure of £659.53 in July last year, AA Insurance said.
This is the biggest decrease since the AA insurance index began in 1994.
One of the largest insurance retailers on Britain's high street has been fined over £7m for mis-selling monthly add-on insurance policies.
The Financial Conduct Authority (FCA) has disciplined Swinton Group Limited (Swinton) over its aggressive sales strategy and failure to treat customers fairly in telephone sales.
Steve Cleverdon, who broke his neck in Malaysia, has told ITV Daybreak about his experience trying to find a hospital without having insurance. The total bill was £4,000.
Young people, traveling abroad, often assume the NHS or British authorities will help them if they get hurt or injured abroad.
Victoria Bacon from ABTA, has told ITV Daybreak: "If something does go wrong you're going to have to pick up the cost of medical bills yourself."
– Foreign and Commonwealth Office Minister Mark Simmonds
Many people travel abroad without insurance and that means if they are injured or fall ill it could be very expensive, it could even be a matter of life and death.
Many don't realise that the Government will not pay their medical bills abroad or pay for repatriation.
I strongly urge everyone to take out comprehensive travel insurance so they can enjoy their holiday without risking their health or their savings.
- A quarter of Brits (24%) are now travel abroad without insurance.
- 4 out of 5 (82%) young people admit to taking part in more adventurous behaviour on holiday - yet fewer than half (45%) check that their insurance covers risky pursuits.
- 16% mistakenly believe that travel insurance is unnecessary as the UK Government will pay for their treatment if they become ill abroad.
- 17% (and a third of 15-24 year olds) wrongly assume that when travelling in Europe, they dont need insurance because they have a European Health Insurance Card.
- Almost half of Brits (47%) mistakenly believe it would cost £5,000 or less to treat a broken leg in the USA despite the actual figure being more than eight times than that.
Young Brits are putting their health and pockets at risk by failing to get adequate holiday insurance or check they are properly covered, according to new research.
Furthermore, the FCO has also found that 4 out of 5 (82%) young people admit to taking part in more adventurous behaviour on holiday - yet fewer than half (45%) check that their insurance covers risky pursuits.
The bill for damage from the Oklahoma tornado could top $2 billion, according to the Oklahoma Insurance Department.
A department spokeswoman said the tally is based on visual assessments of the extensive disaster zone that stretches more than 17 miles, and the fact the tornado lasted 40 minutes.
Between 12,000 and 13,000 homes were destroyed or damaged and 33,000 people were affected in some way by the storm, said Oklahoma City Mayor Mick Cornet.
Two years ago, the 2011 tornado which hit Joplin in Missouri caused around $2.8 billion in damages.