When renewing your car insurance, you may wonder, ‘When is the best month to get a great deal?’
It’s a popular myth that some months are more expensive than others when it comes to your renewal, with some stating that December is often harder on your pocket.
However, December does not need to be more expensive than any other month of the year when using an insurance broker.
Using an insurance broker is a great way of ensuring you are still getting the best price possible for your vehicle, no matter which time of the year you need a policy.
Here we look at when the best time to renew your car insurance is and how you can get yourself the best deal.
When is the best time to renew my car insurance?
The best time to renew your car insurance is between 20 and 27 days ahead of your renewal date, so try to enquire about a new quote then.
It’s a little-known fact, but the closer you get to your renewal date, the more expensive your insurance becomes.
This is because if you sort your new policy out early, you are deemed to be a more risk-averse driver, meaning you will be seen as more responsible and organised, therefore you are more likely to take care of your vehicle, compared to those who renew at the last minute.
Most car insurance policies will auto-renew, unless you tell your provider that you intend to switch.
When is the most expensive time to renew your car insurance?
As previously mentioned, leaving your car insurance renewal until the last minute will cause it to rise compared to getting a quote three-four weeks in advance.
Customers may also feel pressured to purchase a policy quickly as their renewal date approaches, leading them to accept higher costs when time is limited.
Why has the cost of my car insurance gone up?
Your insurance can increase year-on-year for a number of different reasons. These include:
- If you have made any claims during the term of your current policy
- If there has been a change to your car or address
- If there has been a number of claims or a crime increase in your area
- Your driving history has changed
- Any changes in car laws
- If you’re adding a new driver to the policy
- You’re changing your level of cover
- Adding any optional extras
- Modifications such as engine or exhaust upgrades can increase your insurance
- Changes to the economy
What is an insurance broker?
An insurance broker is a professional company regulated by the Financial Conduct Authority (FCA) and its prime function is to help clients find suitable and cost-effective insurance protection. Brokers act as an agent of the client and represent their best interests.
Why use a broker rather than a comparison site?
A comparison site will search for your insurance using a predetermined set of questions. When you contact an insurance broker, you will be talking to a real person who will take the time (but not too much time) to learn about your personal circumstances in order to find the best policy for you.
Comparison sites tend to offer generic policies; it’s a one-size-fits-all scenario, whereas a broker will know where to find a policy that is a better match for your individual needs.
Computers on price comparison sites cannot make judgement calls, an insurance broker, on the other hand, can use common sense and make sensible decisions.
How to save money on your car insurance
There are a number of ways that you can save money on the cost of your car insurance.
These include, but are not limited to:
- Parking your vehicle in a garage or driveway overnight instead of the road
- Safety modifications made to your vehicle
- Continuing to build up your no-claims discount
- Improving your car’s safety, such as installing a dashcam or an immobiliser
Get a quote from the experts
Using our expert knowledge and the relationships we’ve formed with insurers over the decades, we can help you get affordable car insurance. Call 0800 369 8590 for a quick and easy car insurance quote, or book a callback at a time that best suits you.
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