A tip from Money Saving Expert Martin Lewis could help people save hundreds on their car insurance.
The financial guru shared how people can use the website’s Car Insurance Compare+ tool to check their savings, reports The Sun. The online tool offers cheap quotes and various tips on how to save money.
One motorist claimed that it saved him over £400 annually, and that was also including costs incurred by switching mid-term through his policy. Martin Lewis fan Ben wrote on the website that he paid £1,062 for his car insurance in 2021.
However, by using the tool and following the tips given by Martin, this years quote came in at £659 – saving him £403. That was with the same car as last year.
The tool works by asking people to fill in a form that asks for details like their registration number, and email address. Then, they receive a quote based on prices that were compared on MoneySuperMarket.com.
The tool also offers drivers advice on other things they can do to reduce their quote, such as trying comprehensive cover and adding a responsible additional driver.
It is also important to note, however, that the comparisons are only shown from the MoneySuperMarket.com’s website, and not other price comparison websites. However, it does offer a list of other comparison websites to try and also tells you whether you should check your quote with Direct Line.
On top of using this tool, you can slash your insurance costs in other ways. One way is to switch deals early, as it could save you hundreds.
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New policies arranged two or three weeks before a renewal date can often be much cheaper than if you wait and switch on the day they end. Martin Lewis dubbed this tip the “21-day rule”.
Also, you don’t just have to accept the renewal quote you have been given, if you already have a car. Shopping around for deals can save you a substantial amount.
Also, you can tweak your job title, as some insurers see certain professions as riskier than others, meaning it would be more likely to see a claim come in. Of course, you shouldn’t lie about your profession but a simple change could see you save money.
And finally, paying for your insurance annually could save you money. Paying monthly may be more convenient, but you’ll end up paying more overall.
So, if you have some savings, paying up front could see some decent savings being made.
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