Renewing your car insurance between 21 and 26 days before your current policy ends could help you secure the cheapest deal, according to Money Saving Expert (MSE). The average annual cost of car insurance in the UK is £566, data from the Association of British Insurers (ABI) shows.
Why timing matters
Car insurance quotes tend to become more expensive the closer it gets to when your policy ends, as drivers are seen as higher risk. MSE said: "Some insurers have told us they've seen a direct link between drivers who leave sorting their insurance to the last moment and those who make a higher number of claims."
However, those who try to get a renewal price 30 days in advance may not find the cheapest deals as there are fewer quotes available that far ahead. Car insurance is a legal requirement in the UK.
How to save money on car insurance
If your car insurance is up for renewal, use a comparison site to search for a cheaper price. Once you have seen a better deal, you can either switch to it or try and haggle down your existing provider.
New analysis from Which? shows the car insurance firms where drivers are most likely to be able to haggle a cheaper price. They found seven in ten (72%) customers with Admiral were successful in securing a lower premium - and the majority (57%) of those did so without making any policy changes.
You can also save money by paying for the year upfront, as opposed to splitting your payments into monthly instalments. This is because you can avoid paying interest and admin fees.
Job title tips
You typically have to tell car insurance providers your job title when searching for your next quote. Most of the time, you'll need to pick which best describes your occupation from a list of pre-set job titles.
If there is more than one title that could accurately be applied to what you do, it's worth checking if one description will give you a cheaper quote. But it is crucial you do not lie about your job title as you could risk being accused of fraud and having your insurance invalidated. It has to be something that can legitimately be used to describe your job.
