{"id":66207,"date":"2023-08-25T23:48:21","date_gmt":"2023-08-25T23:48:21","guid":{"rendered":"https:\/\/newcelebworld.com\/?p=66207"},"modified":"2023-08-25T23:48:21","modified_gmt":"2023-08-25T23:48:21","slug":"martin-lewis-mse-issues-urgent-warning-to-every-homeowner-before-huge-bill-rise-do-you-need-to-act-now-to-save-100s-the-sun","status":"publish","type":"post","link":"https:\/\/newcelebworld.com\/lifestyle\/martin-lewis-mse-issues-urgent-warning-to-every-homeowner-before-huge-bill-rise-do-you-need-to-act-now-to-save-100s-the-sun\/","title":{"rendered":"Martin Lewis\u2019 MSE issues urgent warning to every homeowner before huge bill rise \u2013 do you need to act now to save \u00a3100s? | The Sun"},"content":{"rendered":"
MARTIN Lewis\u2019 MSE has issued an urgent warning to every homeowner before a huge bill rise.<\/p>\n
In this week's\u00a0MSE newsletter\u00a0the\u00a0consumer champion\u00a0urged households to check if they can save \u00a3100s on their home insurance.<\/p>\n
<\/p>\n
Research firm Pearson Ham said that home insurance has soared by 26% in the last year.<\/p>\n
While big-name insurer Admiral has also said it's likely to continue to increase prices.<\/p>\n
MSE said: "Everyone should check now if they can save – as if you can lock in a decent price today, you can forestall rises until next<\/span> year."<\/p>\n The current average cost of basic home insurance is \u00a3240 a year or \u00a320 a month, according to NimbleFins.<\/p>\n <\/p>\n <\/p>\n But how much you pay does depend on a variety of factors including the value of your belongings,\u00a0property\u00a0age and its location.<\/p>\n While home insurance isn't a legal requirement, it's generally a good idea to have it.<\/p>\n It covers things like fire damage, weather damage, theft and falling trees.<\/p>\n There are generally three different types which will determine how much you pay and what is covered.<\/p>\n <\/picture>\n <\/span><\/p>\n <\/picture>\n <\/span><\/p>\n <\/picture>\n <\/span><\/p>\n <\/picture>\n <\/span><\/p>\n You can get your building and its contents covered, your building only or contents only.<\/p>\n The first step to finding the cheapest coverage for you is to "never" auto-renew, according to MSE.<\/p>\n It said: "Always check what's out there, as your insurer's not necessarily going to have the market's cheapest policy"<\/p>\n They also shared an example from an MSE fan who managed to save his neighbour \u00a3215 by finding an identical policy for cheaper than her renewal.<\/p>\n According to\u00a0MSE\u00a0if your policy is up for renewal is to establish what cover you need.<\/p>\n If you're renting you typically won't have home insurance and the building will be insured under the landlord's policy.<\/p>\n Instead you'll have what's called renters insurance.<\/p>\n Tenants' Contents Insurance covers your personal possessions in case of fire, theft, accidental damage or other insured risk.\u00a0<\/p>\n It's important to compare the best prices using a few different comparison sites – for example Compare the Market, MoneySupermarket and Confused.com.<\/p>\n You can get hundreds of quotes within minutes and the sites will break down the\u00a0insurers\u00a0and brokers for you.<\/p>\n MSE also says using a cashback site like Quidco and\u00a0Topcashback\u00a0will give you up to \u00a333 back if you compare through them.<\/p>\n If you're keen to stick with your current firm then why not haggle using the other prices you find?<\/p>\n Another piece of advice from MSE is: "Check to see if you can find prices cheaper. <\/p>\n "If you can make a substantial saving, provided you haven't claimed this year, you can cancel your policy and usually get a pro-rata refund if you paid upfront, minus a \u00a335ish admin fee – and you don't earn this year's no-claims discounts.<\/p>\n "Plus you forestall rises for another year."<\/p>\n Lastly, make sure the policy you settle on is right for you and read the terms and conditions closely.<\/p>\n It's vital also to check your firm is regulated by the FCA (Financial Conduct Authority) and if your claim is unfairly rejected then escalate any complaints to the Financial Ombudsman.<\/p>\n <\/p>\n <\/p>\n Meanwhile, Martin Lewis' MoneySavingExpert has also revealed a little-known trick to extend Tesco Clubcard vouchers.<\/p>\n Plus, here are\u00a0seven everyday mistakes\u00a0that could invalidate your home insurance and cost you thousands.<\/p>\n Do you have a money problem that needs sorting? Get in touch by emailing\u00a0money-sm@news.co.uk<\/strong>.<\/p>\n You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group\u00a0members.<\/strong><\/p>\nREAD MORE IN MONEY<\/span><\/h2>\n
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