People have been urged to consider all their options before renewing their car insurance this month in a new alert. Martin Lewis and his Money Saving Expert (MSE) team have warned that the convenience of automatically taking a deal is highly unlikely to be the cheapest option.
Shared as part of Martin's free weekly email to MSE subscribers, he claimed: "March is the second-busiest car insurance month, so many are renewing." He added: "But be aware, average car cover costs are down 11% on last year.
"If nothing's changed and your renewal isn't cheaper, don't accept it. Put yourself in the driver's seat and use our Compare+ Car Insurance tool, which guides you through every trick in our book."
The free-to-use online tool is a single form that uses questions set by comparison site MoneySupermarket.com, but includes some MSE-backed tips along the way, including the cheapest legit job title and whether waiting a day or two could reduce your price.
Based on your answers to the question set, MSE suggests ways to make your quote cheaper, such as checking multi-car policies, adding additional drivers to your policy, and paying annually rather than monthly. In the end, customers should get to the "cheapest quotes" from MoneySupermarket, and other comparison drivers may want to check
The latest email alert from the broadcaster included a success story from MSE follower Anne. She had been quoted £820 for her car insurance, a major hike from the previous year, when it cost her £595.
She told MSE: "I phoned my insurer and the best it could offer was a £100 reduction. I used [the MSE] Compare+ tool and got the same cover with Aviva for £497! A saving of £323, thank you so much."
Car insurance is a strict legal requirement in the UK for any vehicle used on roads and in public places, with third-party cover being the minimum required by law. This basic level of cover protects other people, vehicles, or property from damage you cause.
Martin previously claimed that opting for this basic cover might seem like the cheapest option, but it can raise prices and red flags with insurance providers. The MoneySavingExpert founder previously said: "You would think that third-party insurance always wins, but I'd check comprehensive too.
"By selecting comprehensive insurance, some insurers perceive you to be a lower risk than the type of person who'd go for third-party insurance. And, even though third-party insurance is lesser cover, the fact that you are perceived as a lower risk can, in some cases, make it cheaper - I'm not saying it always is, it's a trial and error, I'm just saying don't assume third-party is cheapest, bizarrely."
The finance expert also shared more cheap car insurance tips during that episode of the Martin Lewis Money Show from early February. You can read the full story here.