Martin Lewis urges drivers to avoid huge car insurance fees with simple checks
Martin Lewis suggested that drivers check comparison websites
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Martin Lewis has called on drivers to look around for other car insurance policies to ensure they are getting the best price for their cover, or they could be massively overpaying.
Speaking earlier today, the Money Saving Expert spoke to callers about car insurance and how drivers could try and save money.
One frustrated caller, named Tracy, spoke about how the cost of her home insurance had increased 65 per cent when renewing despite there being no changes to her policy.
Martin Lewis spoke about how car insurance and home insurance prices can have similar remedies for rising prices.
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He suggested using at least two comparison sites, saying that they are actually marketplaces for insurance and insurers.
The comparison websites often cover different insurers and brokers, meaning it would be worthwhile for drivers to check at least two to try and get the best deal.
Speaking on BBC Radio 5 Live with Nihal Arthanayake, Martin Lewis said: “The rules are, as long as they’re not charging more than direct, they can have exclusive deals and special prices with the insurers.
“So different comparison sites can charge different prices for the same insurer, which is why a spread of two or three of them is always worthwhile.
“I would then add in Direct Line which is the big insurer which isn’t included [on comparison websites].”
Drivers and homeowners could visit popular cashback websites to try and see if they can benefit from additional bonuses after they have purchased insurance.
The financial expert suggested using sites like TopCashback or Quidco, with Tracy saying she had used these sites before and received hundreds of pounds in return.
He also stressed to drivers the importance of checking a quote and not getting carried away with the allure of cashback before doing standard checks.
If a driver or homeowner has managed to get a cheaper deal with the same terms, they should return to their original insurer and ask if they can match the offer.
Tracy explained how her current home insurance deal is £131, but would be rising to £216 with a new renewal deal.
Martin Lewis also spoke about the benefits and drawbacks of looking at multi-car insurance, saying that it is suitable for some people, but not for others.
These types of insurance offers are not included on comparison sites, with drivers having to look at different websites to find the best price.
He added: “If you have more than one car in the household and you’ve never checked multi-car, check multi-car. Admiral, Aviva, LV, Diamond and Elephant are the main providers of multi-car.
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Drivers can save money by searching around for the cheapest car insurance policies
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“If you have a multi-car policy, then check separately via comparison sites. The reason is, to get you in the first place, which they can’t do anymore, they discounted it in the first year or two.
“So, what you want to do is check the opposite to what you’re actually on. Comparison sites are great for people with normal circumstances. If your circumstances are not normal, then going direct to a broker who can get you a bespoke quote is often a better route.”
Britons could also visit some of the main providers who offer home and car insurance together, which can sometimes be cheaper.