A MARTIN Lewis fan has shared how she managed to shave hundreds off an essential household bill by using a nifty Martin Lewis hack.
The MoneySavingExpert (MSE) reader made the saving after seeing the advice in one of the website’s weekly newsletters.
In an email last week, the money saving website listed its six steps to cut home insurance costs.
Just days later, reader Karen emailed back to share her massive saving.
The email read: “Our buildings & contents auto-renewal reminder came in with a 52% price rise – even my husband commented: ‘Wow, that’s some hike.’
“I double-checked your action steps, and 30 minutes later I had saved £286 on an exact like-for-like policy.
“Happy days. Thanks to you all at MSE.”
By following the guide, Karen managed to make the major saving on the often costly bill.
Making comparisons across multiple websites can often lead to finding a cheaper plan.
In Karen’s case, by looking at other comparison sites, she managed to save almost £300.
The previous week’s email also included the story of Fiona, who managed to save an enormous £423 after following the same help guide.
Fiona’s email said: “I received a renewal notice which shot up by a few hundred quid to £866 (for a standard four-bed).
“Your newsletter landed, I used your tips and which comparison websites to use, and 40 minutes later I found the exact same cover for £443.
“A huge saving of £423, woohoo. Thank you so much.”
Home insurance prices have had record heights for over a year now, with prices sitting at almost 30% higher than last year.
However, the stats imply we may have reached the peak, with average quotes dropping 1% over the past three months, according to Consumer Intelligence.
If you’ve not checked your home insurance in a while, it’s worth looking to see if you’re overpaying.
HERE are Martin Lewis' six core steps to saving on home insurance.
Our current order is 1) Compare The Market, 2) MoneySupermarket, 3) Confused.com.
– Coverbaloo gives a £25 Amazon voucher (comes within 90 days).
– Urban Jungle gives a £15 Amazon voucher after seven months when you use code MSE_OFFER.
– If you’re a member of cashback sites Quidco or Topcashback, you can do a comparison through them, and get up to £35 back. But check prices are the same (or cheaper) as through the main comparisons.
Not at renewal? It’s still worth a check, especially if you auto-renewed last time around. If you can make a substantial saving (and haven’t claimed yet this year), you can cancel and usually get a pro-rata refund, minus a £35ish admin fee (though you won’t earn the year’s no-claims discount). See switching home cover mid-year.
