The Money Saving Expert founder says anyone who pays for their car insurance monthly should think again
Martin Lewis has issued a stark warning to all drivers about an issue that could cost them hundreds of pounds. The founder of Money Saving Expert advised those who opt to pay for their car insurance on a monthly basis to seriously rethink their decision.
He urged his followers to avoid this if possible, directing them to his Money Saving Expert site for further advice on car loans, including never auto-renewing and that the most affordable policies usually require an annual payment. The site also reveals the best time to get car insurance quotes - 20 to 27 days before the policy start date, and emphasises the importance of being on the electoral roll as it can impact costs.
Another customer highlighted the financial strain brought about by escalating costs, stating: "I used to pay my car insurance in a lump sum but since the doubling in price I've had to pay for it by direct debit, no other choice."
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