Man saves £330 on insurance after Martin Lewis tip encourages him to shop around

We all know how expensive insurance can be, which is why it's important to shop around first.

Fortunately for one Brit, he managed to save a whopping £330 after a handy tip from Martin Lewis.

The man, known as John, was paying around £400 per year for buildings insurance through Co-op before the advice.

But after being encouraged to check prices when he read the Money Saving Expert website, it all changed for John.

He managed to slash his costs to just £61 by switching to LV, meaning he saved an eye-watering £339 per year.

Writing to the website, John said he felt like "such a fool" for not checking if he could get a cheaper quote sooner.

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He said: "I have been paying the Co-op nearly £400 a year for buildings insurance.

"Why I checked now I don't know but it was certainly after your prompting.

"I'm signed up with LV for £61 a year, saving around £330 a year.

"I do feel cheated but it's my fault for paying up over the last 30-odd years. Keep up the most excellent work."

When it comes to comparing insurance, it's handy using sites like Uswitch, MoneySupermarket and Compare The Market.

According to MSE, the best time to start searching for a better price is 21 days before your current policy is due to end.

Make sure you use a variety of websites to check costs as they don't often cover the same insurers.

Then once you've found the cheapest price, give your current insurer a call to see if you can haggle the price.

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Martin suggests telling them that you've found a cheaper price elsewhere so you can see what they can offer you.

Just remember, haggling is never guaranteed to work but it's always worth asking.

Finally base your search on the best policy for you.

Home insurance falls under two categories: buildings (for permanent fixtures and fittings) and contents (for belongings).

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