BILL HELP
I saved £412 on an essential household bill with a handy Martin Lewis tip – all it took was a quick call
We explain how else you can cut costs on the bill below
A MARTIN Lewis fan has revealed how they saved over £400 on an essential household bill.
The reader revealed how they slashed their home insurance premium by choosing not to auto-renew.
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The savvy saver's story was shared in the consumer champion .
It read: "My automatic renewal price had increased by over £400. I called, following a search of a comparison website, and was told that my insurer wouldn't price-match or negotiate any loyalty discount.
"But its renewal quote of £786 was bettered by another insurer to the value of £374."
Insurers often charge you more when your home insurance policy rolls over, known as auto-renewal, than what you were being billed before.
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But you can avoid the pitfall by shopping around for a better deal and using it to haggle your provider's initial offer down.
If it doesn't want to lower its offer, you can always ditch it and go with a new provider promising you a cheaper deal.
Search on comparison websites like Compare the Market, MoneySupermarket and Confused.com to see what's on offer.
If you find a deal which is considerably cheaper than what your current insurer is offering, call it to see if they'll reduce its price.
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If you're not comfortable haggling over the phone, you can always try using a chatbot online.
If your insurer refuses to lower your price, you can decline its offer and opt for a different firm.
You might even find your existing insurer gets in touch after and offers you a cheaper deal.
In any case, make sure any policy you sign up to covers what you need and check the terms and conditions for any drawbacks.
For example, if you are looking for contents insurance, some household items might not be covered in the policy, so it's worth checking the fine details.
It comes as home insurance premiums soar in a blow for households.
Premiums increased by 19% between the first three months of 2023 and the same time period this year, according to the Association of British Insurers (ABI).
The body, which represents industry, said the average combined buildings and contents premium was £375 at the start of the year.
What is home insurance?
Home insurance is designed to cover you in the event of fire, flood, or theft or loss of any item inside it.
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It's not a legal requirement, unlike car insurance, but it can be useful if something goes awry.
There are two types of home insurance policy - contents and buildings.
Buildings insurance covers the cost of repairing any damage to the structure of your property which might have been caused by a fire or flooding.
The "building" includes elements like your roof, walls and floors as well as permanent fixtures such as windows or fitted kitchens.
Contents insurance says what it does on the tin - it covers you in case the contents of your home are damaged, lost or stolen.
How else to save money on home insurance
THERE'S a few other ways you can save money on your home insurance...
Ceri McMillan, insurance expert at Go Compare previously told The Sun renewing your policy 27 days ahead of it expiring could save you £60.
And at the very least, don't wait for your policy to auto-renew as you'll likely pay more than if you shop around for a cheaper deal.
If you've got the money up front, it's worth paying for your premium in one lump sum as well.
Ceri previously told The Sun you can save around 10% on your premium using the trick.
The ABI said the average home insurance premium was £341 in 2023, which means you could save around £34.
Combining contents and buildings policies rather than paying for them separately could save you £100 a year as well, according to Confused.com.
Installing a burglar alarm can help drive down your premium price as well, albeit after the initial up front cost.
Consumer group Which? , and install it yourself to save extra cash.
You can buy either buildings or contents policies separately, or combined so you are covered across all scenarios.
Not all home insurance policies cover the same things though, so it's worth shopping around.
You can use price comparison websites like Compare the Market, GoCompare and Uswitch.
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Most home insurance policies also come with an "excess" - the amount you have to pay towards a claim.
Increasing your excess will see your policy go down, but means you'll have to fork out more if you have to make a claim.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
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