I tried Martin Lewis’ car insurance trick and | Tech News

Money saving professional Martin Lewis says there’s a fast and straightforward technique to save money in your car insurance. He stated there was an optimum time of 12 months to seek for quotes as your coverage comes up for renewal.

Journalist Richard Guttridge, of Birmingham Live, followed the steps in a bid to scale back his month-to-month funds. It got here after he obtained a “disappointing” quote from his present insurer.

He stated: “It was with some fear that I set out on the search for car insurance quotes – after my payments rocketed last year. The time had come to renew once again and I was determined to find a better deal if possible.

“I was unimpressed with the renewal quote from my current insurer, which was basically the identical as what I was already paying. So I headed for the comparability web sites.

“I’d remembered a tip from the money expert Martin Lewis about the exact time drivers should search for new quotes, and I was curious to see if it was going to work for me. Martin says the best time to search for deals is three weeks before renewal. I’d made a note in my calendar to make sure I checked then.

“Apparently, those that depart it too close to renewal are seen as being indirectly suspicious or untrustworthy (like people don’t have anything else happening of their lives) and so are sometimes quoted larger costs, so the specialists say.

“So the best thing to do is to set a reminder to check a few weeks before. My existing insurer had sent me a renewal quote of £50 a month which, considering I’ve never claimed, I wasn’t happy with. It’s also much higher than I was paying a couple of years ago, before a nationwide rise in insurance prices.

“Surely there was higher on the market. And so it proved, after a fast look on the comparability web sites.”

During his research he found a quote for £33 a month with an up front deposit of £29.50. Researching the company offering it further, he found it had received positive reviews from industry experts.

He added: “I was delighted to have made a vital saving, almost halving my month-to-month funds and leading to substantial annual financial savings.

“Martin Lewis’ trick seems to have worked for me. It reiterates the importance of using comparison websites as they can often beat the renewal price you’ve been quoted with minimal hassle.

“Even in case you do not swap, it offers you leverage to barter together with your present supplier by exhibiting them the deal you might get elsewhere, typically prompting them to offer a higher deal. So, make a word of your renewal date and mark three weeks earlier than that in your calendar.

“It might just save you a considerable amount of money.”