I used Martin Lewis tip to slash my essential household bill by £286 – it only took 30 minutes --[Reported by Umva mag]

A MARTIN Lewis fan has shared how she managed to shave hundreds off an essential household bill by using a nifty Martin Lewis hack. The MoneySavingExpert (MSE) reader made the saving after seeing the advice in one of the website’s weekly newsletters. RexMartin Lewis recommends following his six key steps to reduce your home insurance bills[/caption] In an email last week, the money saving website listed its six steps to cut home insurance costs. Just days later, reader Karen emailed back to share her massive saving. The email read: “Our buildings & contents auto-renewal reminder came in with a 52% price rise – even my husband commented: ‘Wow, that’s some hike.’ “I double-checked your action steps, and 30 minutes later I had saved £286 on an exact like-for-like policy. “Happy days. Thanks to you all at MSE.” By following the guide, Karen managed to make the major saving on the often costly bill. Making comparisons across multiple websites can often lead to finding a cheaper plan. In Karen’s case, by looking at other comparison sites, she managed to save almost £300. The previous week’s email also included the story of Fiona, who managed to save an enormous £423 after following the same help guide. Fiona’s email said: “I received a renewal notice which shot up by a few hundred quid to £866 (for a standard four-bed). “Your newsletter landed, I used your tips and which comparison websites to use, and 40 minutes later I found the exact same cover for £443. “A huge saving of £423, woohoo. Thank you so much.” Home insurance prices have had record heights for over a year now, with prices sitting at almost 30% higher than last year. However, the stats imply we may have reached the peak, with average quotes dropping 1% over the past three months, according to Consumer Intelligence. If you’ve not checked your home insurance in a while, it’s worth looking to see if you’re overpaying. Six steps to save on home insurance HERE are Martin Lewis' six core steps to saving on home insurance. COMBINE comparison sites for 100s of quotes in minutes – don’t assume they’re all the same. Never just auto-renew – there’s no guarantee your existing insurer will give you the cheapest or best cover. It’s always worth a check elsewhere. Comparison sites zip your info to dozens of insurers and brokers at once. Yet don’t just use one as a) they can cover different insurers, and b) they often have different prices for the same firm. Our current order is 1) Compare The Market, 2) MoneySupermarket, 3) Confused.com. Check special deals to see whether you can beat the comparisons’ cheapest. Biggie Direct Line doesn’t appear on comparisons and can be competitive for some, so it’s worth a try. Yet there are also some special deals available for firms that are on comparisons, though you’ll need to buy direct to get the vouchers. So check the price and factor in the incentive to see which wins overall. – Coverbaloo gives a £25 Amazon voucher (comes within 90 days).– Urban Jungle gives a £15 Amazon voucher after seven months when you use code MSE_OFFER.– If you’re a member of cashback sites Quidco or Topcashback, you can do a comparison through them, and get up to £35 back. But check prices are the same (or cheaper) as through the main comparisons. Establish what cover you need. Everyone, including renters, should consider contents insurance, but buildings insurance is usually only for freehold homeowners (otherwise it’s generally the management company or landlord’s responsibility – check your lease if you’re not sure). This is how to think about it… – Contents insurance: Beware UNDERinsuring. Many underinsure, thinking: “I’d never claim for everything” … but insure only half your contents’ value, then claim for, say, a TV, and you may only get half the TV’s value once they assess whether the cover was accurate. Use a contents calculator. – Buildings insurance: Beware OVERinsuring. Many wrongly insure for their home’s market value, but what counts is how much it’d cost to rebuild if it was knocked down. Use a rebuild cost calculator to find out. The sweet spot is about three weeks ahead of renewal, but even if that’s ages away, check anyway. Leave getting insurance until the very last minute and the price can go up, as insurers deem those who leave it later to be a higher risk. On average, the cheapest time to get quotes is 21 days ahead of your renewal, though a few days either side won’t matter much. See best time to renew home insurance. Not at renewal? It’s still worth a check, especially if you auto-renewed last time around. If you can make a substantial saving (and haven’t claimed yet this year), you can cancel and usually get a pro-rata refund, minus a £35ish admin fee (though you won’t earn the year’s no-claims discount). See switching home cover mid-year. Haggle. Wa

Oct 9, 2024 - 22:17

I used Martin Lewis tip to slash my essential household bill by £286 – it only took 30 minutes --[Reported by Umva mag]

A MARTIN Lewis fan has shared how she managed to shave hundreds off an essential household bill by using a nifty Martin Lewis hack.

The MoneySavingExpert (MSE) reader made the saving after seeing the advice in one of the website’s weekly newsletters.

a man in a blue suit is sitting on a couch

Martin Lewis recommends following his six key steps to reduce your home insurance bills[/caption]

In an email last week, the money saving website listed its six steps to cut home insurance costs.

Just days later, reader Karen emailed back to share her massive saving.

The email read: “Our buildings & contents auto-renewal reminder came in with a 52% price rise – even my husband commented: ‘Wow, that’s some hike.’

“I double-checked your action steps, and 30 minutes later I had saved £286 on an exact like-for-like policy.

“Happy days. Thanks to you all at MSE.”

By following the guide, Karen managed to make the major saving on the often costly bill.

Making comparisons across multiple websites can often lead to finding a cheaper plan.

In Karen’s case, by looking at other comparison sites, she managed to save almost £300.

The previous week’s email also included the story of Fiona, who managed to save an enormous £423 after following the same help guide.

Fiona’s email said: “I received a renewal notice which shot up by a few hundred quid to £866 (for a standard four-bed).

“Your newsletter landed, I used your tips and which comparison websites to use, and 40 minutes later I found the exact same cover for £443.

“A huge saving of £423, woohoo. Thank you so much.”

Home insurance prices have had record heights for over a year now, with prices sitting at almost 30% higher than last year.

However, the stats imply we may have reached the peak, with average quotes dropping 1% over the past three months, according to Consumer Intelligence.

If you’ve not checked your home insurance in a while, it’s worth looking to see if you’re overpaying.

Six steps to save on home insurance

HERE are Martin Lewis' six core steps to saving on home insurance.

COMBINE comparison sites for 100s of quotes in minutes – don’t assume they’re all the same. Never just auto-renew – there’s no guarantee your existing insurer will give you the cheapest or best cover. It’s always worth a check elsewhere. Comparison sites zip your info to dozens of insurers and brokers at once. Yet don’t just use one as a) they can cover different insurers, and b) they often have different prices for the same firm.
Our current order is 1) Compare The Market, 2) MoneySupermarket, 3) Confused.com.
Check special deals to see whether you can beat the comparisons’ cheapest. Biggie Direct Line doesn’t appear on comparisons and can be competitive for some, so it’s worth a try. Yet there are also some special deals available for firms that are on comparisons, though you’ll need to buy direct to get the vouchers. So check the price and factor in the incentive to see which wins overall.
– Coverbaloo gives a £25 Amazon voucher (comes within 90 days).
– Urban Jungle gives a £15 Amazon voucher after seven months when you use code MSE_OFFER.
– If you’re a member of cashback sites Quidco or Topcashback, you can do a comparison through them, and get up to £35 back. But check prices are the same (or cheaper) as through the main comparisons.
Establish what cover you need. Everyone, including renters, should consider contents insurance, but buildings insurance is usually only for freehold homeowners (otherwise it’s generally the management company or landlord’s responsibility – check your lease if you’re not sure). This is how to think about it…
- – Contents insurance: Beware UNDERinsuring. Many underinsure, thinking: “I’d never claim for everything” … but insure only half your contents’ value, then claim for, say, a TV, and you may only get half the TV’s value once they assess whether the cover was accurate. Use a contents calculator.
- – Buildings insurance: Beware OVERinsuring. Many wrongly insure for their home’s market value, but what counts is how much it’d cost to rebuild if it was knocked down. Use a rebuild cost calculator to find out.

The sweet spot is about three weeks ahead of renewal, but even if that’s ages away, check anyway. Leave getting insurance until the very last minute and the price can go up, as insurers deem those who leave it later to be a higher risk. On average, the cheapest time to get quotes is 21 days ahead of your renewal, though a few days either side won’t matter much. See best time to renew home insurance.
Not at renewal? It’s still worth a check, especially if you auto-renewed last time around. If you can make a substantial saving (and haven’t claimed yet this year), you can cancel and usually get a pro-rata refund, minus a £35ish admin fee (though you won’t earn the year’s no-claims discount). See switching home cover mid-year.
Haggle. Want to stick with your existing firm? Ask it to match your cheapest price from steps 1 and 2 – it will often work. See home insurance haggling help.
Ensure the policy’s right for you before buying. Go through the main terms to check you’re happy, and check the provider is regulated by the Financial Conduct Authority. And remember, if you have a claim unfairly rejected, you have a right to escalate any complaints to the free Financial Ombudsman.

The following news has been carefully analyzed, curated, and compiled by Umva Mag from a diverse range of people, sources, and reputable platforms. Our editorial team strives to ensure the accuracy and reliability of the information we provide. By combining insights from multiple perspectives, we aim to offer a well-rounded and comprehensive understanding of the events and stories that shape our world. Umva Mag values transparency, accountability, and journalistic integrity, ensuring that each piece of content is delivered with the utmost professionalism.