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Liverpool Echo
Liverpool Echo
World
Lottie Gibbons

Martin Lewis reveals buying car insurance on certain day could save you hundreds

Martin Lewis has revealed how drivers could potentially save them hundreds.

The finance guru has dished out his latest advice in his newsletter titled '21 pain-free ways to slash your spending and save (or gain) £1,000s in 2021'.

One of his tips includes how to cut hundreds of pounds off your car insurance, and he said one woman had followed to save £684.

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Martin wrote : "Car insurance prices are on the rise - can you slash £100s off, even if not at renewal?

"The cheapest time to do a price comparison is 20 to 26 days before renewal (later and you're seen as a higher risk, pushing prices up)."

However, Martin said with prices rising, it's now worth checking even if you are midway through your policy.

He added: "You can usually get a refund for the rest of the year minus a £50ish admin fee, which may add up."

The only requirement is that you have not claimed during your current policy.

Martin recommends checking and combining as many comparison sites as you can.

Some of the best include MoneySupermarket, Confused, Compare The Marked and GoCompare, as well as ringing Direct Line.

Enter your postcode below to claim a free scratchcard

One MoneySavingExpert said: "Renewed three weeks early after your tip. It's gone from a renewal price of £108 per month to £51 per month [saving £684/yr].

"Checked the comparisons later and it went back to £100. Happy."

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