When Is the Best Time to Renew Car Insurance?
Timing can make a big difference when it comes to your car insurance renewal. Knowing the best time to renew car insurance could help you lock in a better deal, save money and steer clear of overpaying. In addition to this, you can avoid last-minute stress by comparing car insurance quotes in advance to help you decide whether you want to stay with your existing provider or take out a policy with a new one.
Key points
- Mark Your Renewal Date: Set a reminder or calendar alert for a month before your policy ends, so you’ve got time to compare and decide.
- Start Comparing Quotes 3–4 Weeks in Advance: This gives you a better chance to find a cheaper deal. Our site can let you compare car insurance quotes quickly and easily.
- Avoid Auto-Renewal Traps: Your existing insurer might automatically renew your policy, but that doesn’t mean you’re getting the best price. Always shop around before accepting.
- Look for Loyalty Perks and No Claims Discounts: Some insurers reward long-term customers or offer extra savings if you’ve built up several years of no claims bonus.
Why Renewing Early Saves You Money
Insurers see early renewals as more organised and lower risk, so they often offer better prices. If you leave it until the final few days, insurers might assume you’re higher risk or desperate to renew, which can push prices up.
According to industry data from MoneySavingExpert.com, the best time to renew your car insurance is around 21 to 27 days before your policy ends. Prices tend to creep up the closer you get to your renewal date, and leaving it too late, even by a few days, can cost you more money.
Is it cheaper to renew my car insurance early?
Usually, yes. The earlier you shop around, ideally 21–27 days before your policy ends, the better your chances of getting a lower quote.
Can I switch insurers before my policy ends?
You can, but check for cancellation fees. In some cases, the savings from switching early can outweigh the cost of ending your policy.
What if I miss my renewal date?
You risk driving uninsured, which is illegal. If your insurer doesn’t auto-renew, you could also face a gap in cover and potential penalties.
In Summary
- Best time to renew is 21–27 days before your current policy ends.
- Early renewal usually means lower prices.
- Always compare deals instead of accepting the auto-renewal.
- Set a reminder so you don’t miss your renewal window.
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