Martin Lewis advises drivers to mark 26 days before their car insurance renewal date on their calendars to secure the best possible deals. According to his analysis of 18 million insurance quotes, this is the optimal time to shop around for a new policy as insurance prices are generally lower.
Martin Lewis has advised drivers to mark a crucial date in their calendars as they could secure up to 50% off their car insurance quote. Speaking on his BBC podcast, he discussed an analysis of approximately 18 million insurance quotes, which revealed that the optimal time to search for a new insurance deal is 26 days before when you want your new insurance to start.
He clarified: "Your insurance is going to send you a renewal note, it might be two weeks before, it might be a month before. That's your renewal, that price is irrelevant of when they send it you. It's about the price when you go and get quotes across the market. When you go on to a comparison site, that's the 26-day date."
He added: "That translates into actuarial risk and the amount of claims. What you have to do is shift yourself into the risk category where people are the lowest risk, and the lowest risk is around three to four weeks before renewal." Big savings are on offer for those who act early, as Mr Lewis said you could see a 50% difference in the amount you pay, compared to if sort it at the last minute.
CAR INSURANCE SAVINGS RENEWAL MARTIN LEWIS MONEY SAVING
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