The founder of Money Saving Expert warned car insurance prices are up a staggering 41 per cent.
Martin Lewis is urging people with car or home insurance to ‘lock in’ a deal now to help them save hundreds of pounds over the next 12 months. In the latest edition of the MoneySavingExpert.com newsletter, the consumer champion said that analysis by Pearson Ham indicates car insurance prices have shot up by a “shocking 41 per cent” with home insurance not far behind at 26 per cent.
Explaining the reason for such steep policy price rises, Martin wrote in the newsletter: “Insurers say it's due to things including rising car repair costs, more subsidence housing claims and overall inflation. Whether that justifies it or not is moot, car insurance is a grudge purchase, you've no choice.”
Martin shared details of the MSE.com ‘Compare+ tool’ which helped one money-saver cut £738 off their car insurance renewal. He explained it’s just one questionnaire that shows the best deals on the market - find out more about it here.
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