The Association of British Insurers says explanations of introductory price offers should be included on policy documents, to improve clarity for new customers.

It follows complaints that insurers offer discounts to get new customers, then charge the usual price at renewal the following year.

The association wants the Financial Conduct Authority to introduce a minimum standard of information for private motor and home and contents products. Renewal documents would show the premium a customer paid previously, alongside the renewal quote.

“Policy documents for new customers should include a clear explanation that any introductory discounts… may not apply when the policy is due for renewal.”