MARTIN Lewis’ Money Saving Experts have revealed what date you should buy your car insurance on to save thousands on your policy.
As part of a list of nine “cheap car insurance renewal tricks” on the MSE website the experts have revealed what time is best to get car insurance quotes.
GettyMartin Lewis’ Money Saving Experts have revealed what date you should buy your car insurance to save money[/caption]
Motorists could save big bucks if they get their quotes 20 to 26 days before they need the insurance to start.
MSE say the cheapest time to get quotes is 23 days ahead of your renewal date as cover becomes more expensive the closer you get.
The experts conducted a study four major comparison sites and found that policy costs an average of £1,198 a year on renewal day, however 23 days earlier the average is just £694 a year, a whopping £504 difference.
The advice seemed to have worked wonders for those who have tried the hack, with one person writing: “Renewed three weeks early after your tip.
“It’s gone from a renewal price of £108/month to £51/month [saving £684/year].
“Checked the comparisons later and it went back to £100. Happy.”
Another gushed, “Just did mine (24 days early) – saved over £690 over my renewal price. Cara via Facebook“.
This isn’t the only money saving hack to make the news recently.
Earlier we told of four tasty and cheap slow cooker meals the whole family will love.
And how a simple £8 gadget can help slash energy bills this winter and save hundreds of pounds.