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Daily Mirror
Daily Mirror
Business
Levi Winchester

Martin Lewis fan reveals how he saved £330 on home insurance - and you can do it too

A Martin Lewis fan has explained how they saved £330 thanks to advice from his MoneySavingExpert website.

The reader, known only as John, says he was previously paying around £400 per year for buildings insurance through the Co-op.

However, after being encouraged to check prices after reading the MoneySavingExpert website, he managed to slash this cost to just £61 by switching to LV.

This marks an impressive annual saving of £339.

Writing into MSE, John said he feels “such a fool” for not checking if he could get a cheaper price sooner.

It's always worth comparing home insurance prices to check for a cheaper cost (Getty Images)

He said: “I have been paying the Co-op nearly £400 a year for buildings insurance. Why I checked now I don't know but it was certainly after your prompting.

“I'm signed up with LV for £61 a year, saving around £330 a year. I do feel cheated but it's my fault for paying up over the last 30-odd years.

“Keep up the most excellent work.”

How to cut the cost of your home insurance

You can compare the price of home insurance by using a comparison site such as Uswitch, MoneySupermarket and Compare The Market.

According to MSE, the best time to start searching for a better price is 21 days before your current policy is due to end - so pop a note in your diary so you don't forget.

When comparing prices, make sure you use a variety of websites to check costs as they often don't cover the same insurers.

It's also worth checking some big name insurers directly on their website, as some firms don't appear on comparison sites.

Once you've found the cheapest price, give your current insurer a call to see if you can haggle down their renewal price.

Tell them you've found a cheaper price elsewhere and see what they can offer you - haggling is never guaranteed to work, but it doesn't cost a penny to ask.

Finally, base your search on the best policy for you. Some of the cheaper quotes may not cover you for everything you need - so check the wording of their protection carefully so you're not caught out.

Home insurance tends to fall into two categories: buildings, which covers the structure of your home and any permanent fixtures and fittings, and contents, which is for your belongings.

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