Martin Lewis gets driver £2,000 off car insurance with his 'guideline'

Martin Lewis has saved a driver £2,000 on car insurance - thanks to his tip. The BBC Sounds podcast host and ITV The Martin Lewis Money Show star spoke out in his latest weekly newsletter to highlight the reader's success.

Writing to Money Saving Expert’s weekly newsletter, Dawn informed the team of her success after using its car insurance compare tool. MSE wrote: "'I saved nearly £2,000 using your car insurance tool.' Our success of the week comes from Dawn."

Dawn wrote into MSE saying: "Thanks to your Compare+ tool, I saved nearly £2,000 this year. My renewal came in at £2,947, but I followed your guidelines and got a quote for £1,027. Then I remembered Martin's advice about checking Direct Line, and it gave me a £1,946 saving.

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"Thanks everyone, we need more sites like yours and I think Martin should be Chancellor." [Ta but nooooo - Martin.] If we've helped you reclaim or save (on this, or owt else), send us your successes." The typical premium hit £892 in February 2024 after rising by £279 over the previous 12 months.

Commenting on the data, Julie Daniels, motor insurance expert at Compare the Market, said: “The rising cost of car insurance is understandably causing concern for many motorists. Our research shows motor premiums have jumped by more than £250 year-on-year.

"For those concerned about the cost of driving, shopping around ahead of renewal is one of the best ways to save money on car insurance. We want to encourage motorists who tend more to stick with their existing insurer each year to compare prices to find the right deal for them.”

“It’s important that insurers remember that the mandatory nature of the cover means that pricing [here] will always be subject to much greater scrutiny than other lines of business,” said Duncan Minty, an independent consultant on ethics in insurance.

Citizens Advice has previously urged the government and insurers to consider “bold ideas” that can take pressure off cash-strapped households for a financial product it deems an “everyday necessity”.