Martin Lewis warns viewers about drastic car insurance changes
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The prices of petrol and diesel have hit record highs in the last few months. As of today, motorists have to fork out 168.24p per litre of unleaded fuel. For diesel car owners the price is even higher standing at 181.00p per litre. The RAC’s fuel watch predicts that both prices are still likely to rise.
With that in mind, experts at Quotezone.co.uk have urged drivers to never let a policy auto-renew.
The experts claim that even though a law introduced in January 2022 requires policy providers to offer customers the same deal, sometimes it’s better to look for a new one.
Using a comparison site to compare the prices will give drivers the freedom of choice.
Motorists might also be surprised with several cheaper quotes.
Greg Wilson, founder of Quotezone.co.uk, said: “Families are under more financial pressure than any time in recent memory, but there are a few simple changes that could help reduce unnecessary costs – especially where cars are concerned.
“I think most people are searching for ways to save and they might not know some of these simple facts and tips that could reduce their insurance premiums and, in some cases, save hundreds of pounds a year.
“The cost-of-living crisis is not likely to be resolved any time soon, so it’s worth reviewing household finances so people can find long-term tweaks and changes to their expenses, to help tighten the belt and safeguard for the future.”
Additionally, experts at GoCompare warned drivers that unless they inform their insurance provider, their policy is likely to automatically renew.
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They added that sometimes insurers will charge motorists more for sticking with their current policy.
According to research carried out by GoCompare, 27 percent of drivers assumed that they would get a good deal if they stick with their current provider.
Some 19 percent claimed that by auto-renewing their car insurance they can save the hassle of switching.
However, if drivers do not wish to renew their policy there are a few things that they can do to save as much money as possible.
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Experts at GoCompare said: “Make sure you stop your auto-renewal before the policy start date if you think you’ll be paying too much – you can use us to compare prices.
“If you’d rather stick with your existing insurer, get in touch and see if you can negotiate a better price.
“Explain that you’re a loyal customer and see what they can do for you.
“If they won’t budge on price, tell them to cancel your auto-renewal.”
The experts added: “Just make sure you do it in good time – if you let your policy auto-renew you’re still allowed to cancel, but you’ll probably be charged for the time you’re covered by them and an administration fee – even if you’re still in your cooling off period.
“It doesn’t take long to compare prices with us instead, and it could save you money.
“Most importantly though, make sure you always have valid insurance in place and the right amount of cover for you.”
Motorists have also been urged to drive safely and avoid fines to keep their premiums as low as possible.
Experts at Quotezone.co.uk said: “On average, three points can add five percent to premiums, but it shoots up to 25 percent for six points, and remember that increase is likely to influence premiums for four years until the offence is spent.
“So, if a driver normally pays £250 for an annual car insurance policy, with six penalty points that could be as much as £62.50 a year extra, potentially for four years, making it an extra £250.
“If drivers do have points, it can help to use a bespoke product such as convicted driver insurance, which can help them find the right insurance provider for their risk profile.”
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