MoneySavingExpert recommends comparing prices exactly 23 days before your current policy expires could cut your price in half; we explain how to find the cheapest renovation quotes
A Martin Lewis fan has explained how they saved nearly £ 1,000 on their car insurance by checking new prices on any given day.
MoneySavingExpert recommends comparing prices 23 days before your current policy expires, and says that doing this could cut your price in half.
But collecting auto insurance quotes on both sides of this 23-day mark could also cut costs.
MSE had previously said that 21 days was the best time to renew.
Writing on the money-saving website, one reader, known only as Amanda, explained how using this hack also meant that she could pay for her car insurance in one go, saving her even more cash.
Have you made big savings on your car insurance? Let us know: email@example.com
Auto insurance companies generally charge a premium if you want to pay for your policy in monthly installments.
Amanda said: ‘I read the quote check tip a few weeks in advance – I got a quote for £ 600 / yr less than my renewal.
“And I actually saved £ 960 in total because now I can pay for it all at once instead of once a month. Thank you.”
MoneySavingExpert research is based on comparison prices, rather than quotes from your existing insurance provider.
Of course, the amount you could save depends on your individual circumstances and whether you have made any claims in the last year.
How to Compare Auto Insurance Prices
It is illegal to drive a vehicle on a highway or in a public place without at least third party insurance.
If you are caught uninsured, the police could impose a flat fine of £ 300 and a six-point fine, and you could end up going to court.
If the case goes to court, you could face an unlimited fine and even be disqualified from driving.
When it comes time to renew your existing insurance policy, you have two options: you can either stick with your current provider or shop around for a cheaper price.
You can use sites like Compare the Market and Go Compare to find the best prices by entering your car registration and details.
Once you’ve found the cheapest deal, tell your current provider and see if they can match it, or move on to the new policy.