Martin Lewis warns 'all' drivers over law that is 'too little discussed'

Martin Lewis has warned all drivers over the legal requirement of getting car insurance - ahead of them being charged 70 per cent MORE. The BBC Sounds podcast host issued the warning via the latest Money Saving Expert newsletter.

ITV star Mr Lewis said: "It's the too-little-discussed inflation that has been the final nail in the coffin of many budgets. Car insurance, already a grudge purchase for many, rose substantially again over the year to May/June 2024 (Consumer Intelligence says 34 per cent, MoneySuperMarket 19 per cent). Overall its now up around 70 per cent since 2021. Though things seem to be levelling off somewhat..."

He added: "NEVER just auto-renew. Instead take five minutes on our tool, which does far more than just compare... Auto-renewing denies yourself the benefit of choice and competition, and with prices in a state of huge churn, different firms' competitive stances are changing all the time, so there's no guarantee that because your current insurance was cheaper for you a year ago, it still is now."

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Martin's rule of thumb is: "If you're on a multicar policy, check separate policies to see if you can save; if you're on separate, check multicar." He added: "Even if your renewal is ages away, it can be worth checking NOW. The sweet spot to get car insurance quotes is 23 days before renewal (so put that in your diary) - prices can double if you leave it later.

"Yet even if you're far from renewal, with the recent price flux it's still worth checking in case you can make big savings.As with any insurance, check the policy details to be sure it's the cover you want, and ensure that insurers are regulated by the Financial Conduct Authority before you buy.

If a claim is unfairly rejected, remember you have a right to take 'em to the free Financial Ombudsman."