Proactive drivers can cut car insurance policies by £300
Drivers can save up to £300 on their car insurance policies by shopping around a month before their existing policy expires.
According to research carried out by MoneySuperMarket, motorists save an average of £300 when they look for new policies between 21 and 28 days before their existing cover runs out.
However, its survey found that 41% of drivers admit they leave it until the last minute to secure a new car insurance policy, with 55% of drivers aged 25 to 34 only seeking new cover just before their current policy ends.
Alicia Hempstead, car insurance expert at MoneySuperMarket, said: “Many drivers leave renewing their insurance until the eleventh hour, but our data shows that being proactive really pays off. Your renewal notice usually lands around a month before your policy ends, and this is your window to act.
“The sweet spot for renewal is typically 20 to 27 days before your policy ends – and shopping around during this window could save you around £300. Insurers tend to view drivers who compare premiums early as more responsible, which can translate into lower costs.
“With household budgets under pressure, taking just a few minutes to compare quotes could leave you significantly better off.”
