DRIVERS can get “a shedload on their car insurance” in just 10 minutes with a phone call trick and a handy online tool.
Martin Lewis has lifted the lid on a genius trick to save on hundreds on car insurance bills.
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With car insurance costs rising to a staggering 67 percent last year, motorists are being left out of pocket every month.
Luckily, the Money Saving Expert has revealed car owners can save up to a whopping 60 per cent on costs.
He has urged road users to be careful with auto-renewal increases as they could be paying more than they should on a basic cover.
Martin suggests making a simple change to slash bills over a half – and it will only take between 10 minutes and one hour.
He said: “Assessments of how much car insurance rose in 2023 vary from the industry’s (ABI’s) own 29 percent up to Consumer Intelligence analysts’ 67 percent – either way it’s a shedload!”
Drivers almost always end up paying more if they forget to cancel their policy and let it roll over automatically.
Shockingly, this common mistake costs car owners millions.
The TV star is urging car owners to always compare their premiums with other insurers as their original rate is not always the best price they can get.
Companies often offer more expensive prices to their loyal customers – while giving the best deals to the new ones.
Although the Financial Conduct Authority (FCA) banned car insurance price walking back in 2022, Martin warned drivers they still need to shop around.
For this, drivers can use the MSE Compare+ Car tool to spot a better deal.
Even if you are looking to renew with you current insurer, the expert recommend to take a few minutes to give them a call to negotiate.
Once you get the overall cheapest price you can contact the insurance company to see if they can beat or match it.
Martin added: “You may think that as since January 2022 car and home insurers have been banned from charging renewing customers more than they charge new customers, all this checking is a bit flaccid.
“The rule changed to end the annual ‘price-walk’ of pushing up prices at each renewal, so that by year five you paid a massive loyalty premium. Yet while that’s gone, auto-renewing is still likely to cost more.”
For those with more than one vehicle, Martin said to get quotes for multi-car cover.
But if you already have a multi-car policy, you should look around for cheaper deals to save up some cash.
It comes as car insurance experts shared their top tips on how drivers can save on their next renewal – as new prices reach “highest on record”.
Research from Confused.com found that motorists paid 58% more for their cover in 2023 than the previous year, the seventh such rise in a row.
