
Martin lewis money saving expert tip helps woman save £2,000 on car insurance
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A woman has managed to save nearly £2,000 on her car insurance by following a tip from Martin Lewis's Money Saving Expert. Dawn said her insurance renewal was quoted at nearly £3,000
this year, but after remembering some savings guidance from the money guru, she was able to slash the price by a staggering £1,946. Writing to Money Saving Expert’s weekly newsletter, Dawn
informed the team of her success after using its car insurance compare tool. She wrote: "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. Thanks, everyone, we need more
sites like yours.” According to the Money Saving Expert website, its Compare+ tool shows the cheapest deal, the cheapest time to buy and if people can get the deal even lower by adding other
drivers to their insurance. This comes as recent data from Compare The Market shows car insurance costs have increased by 46 percent year-on-year. The typical premium hit £892 in February
2024 after rising by £279 over the previous 12 months. The substantial rise in the cost of car insurance may be partly attributed to an increase in claims costs for insurers. High inflation
rates in the past likely impacted various sectors of the motor repair industry, including the cost of spare parts, energy, and specialist mechanics' wages. However, the comparison site
noted that costs have been declining month-on-month since November 2023 when prices peaked at £951. Young drivers, aged under 25, have seen the largest annual increase in the cost of car
insurance. The typical premium for motorists in this age group increased by £648 year-on-year to £2,057 in February 2024. 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.” _Martin Lewis is the Founder and Chair of __MoneySavingExpert.com_. _To join the 13
million people who get his free Money Tips weekly email, go to_ _www.moneysavingexpert.com/latesttip_.