Buying your car insurance before your policy needs to start is likely to help you save – but how far in advance do you need to shop around to get the best price?

Unfortunately, 98% of drivers are timing it wrong and don’t buy their car insurance on the cheapest day, according to data from Go.Compare. 

The comparison site found this could be costly, as failing to hit the optimal day to buy your policy could mean paying up to 55% more.

Here, Which? reveals the cheapest day to renew your car insurance policy and offers tips to help you negotiate your quote even lower. 

• Find out more: best car insurance

The cheapest day to buy your car insurance

New data from Go.Compare reveals the cheapest and most expensive day to renew your car insurance, based on the average cost per year. 

While you can buy car insurance up to 29 days before your renewal date, the analysis found the cheapest option is buying it 26 days in advance, with an average cost of £367.

If you wait until the same day your policy starts, you could end up paying £569, which is 55% more. 

Despite these savings, Go.Compare says only 2% of people buy their insurance at the optimal time, missing out on potential savings. 

The findings also show that prices gradually increase as the renewal date approaches, with sharp rises in the last few days. This highlights the benefit of planning ahead to get the best price on car insurance.

• Find out more: the cheapest and most expensive cars to insure

5 ways to haggle your car insurance premium

While it’s important to know the cheapest day to renew, it’s also useful to know how to haggle. 

Using both strategies can help you save more on car insurance. Here are some practical steps to help you negotiate better quotes:

1. Do your research: check price comparison websites like Confused.com, Go.Compare, and Moneysupermarket.com to see what other insurers are offering. This will give you a benchmark for negotiation.
2. Speak to the retentions department: when you call your insurer, ask to speak directly to the retentions department. They have the authority to adjust your premium to keep you as a customer.
3. Highlight lower quotes: mention any lower quotes you’ve found from other insurers. Ask if your current provider can match or beat these prices.
4. Bundle your policies: consider bundling multiple policies, like car and home insurance, with the same provider. Insurers often offer discounts for bundling, which can lower your overall costs.
5. Be prepared to walk away: let your insurer know you are willing to switch providers if they can’t offer a competitive rate. Having an alternative policy lined up can strengthen your negotiating position.

Find out more: how to negotiate your car insurance

Will you save by switching?

Loyal customers often face hefty increases in their car insurance premiums. 

According to Confused.com, a survey of 2,000 drivers revealed that 75% of those who renewed their insurance between January and March this year experienced an average rise of £94.

However, switching to a new provider could save you a significant amount. The survey found that 45% of drivers who faced higher renewal quotes managed to save around £90 by changing insurers.

To find better deals, start by comparing quotes on websites such as Confused.com, GoCompare, Compare the Market, and MoneySuperMarket.

Keep in mind that some insurers, like Direct Line and NFU Mutual, might not appear on these comparison sites.

• Find out more: what’s happening to car insurance premiums?

Which? Limited is registered in England and Wales to 2 Marylebone Road, London NW1 4DF, company number 00677665  and is an Introducer Appointed Representative (FRN 610689) of the following:

1. Inspop.com Ltd for the introduction of non-investment motor, home, travel and pet insurance, who are authorised and regulated by the Financial Conduct Authority (FCA) to provide advice and arrange non-investment motor, home, travel and pet insurance products (FRN310635). Inspop.com Ltd is authorised and regulated by the Financial Conduct Authority (FCA) to provide advice and arrange non-investment motor, home, travel and pet insurance products (FRN310635) and is registered in England and Wales to Greyfriars House, Greyfriars Road, Cardiff, South Wales, CF10 3AL, company number 03857130. Confused.com is a trading name of Inspop.com Ltd. 

2. LifeSearch Partners Limited (FRN656479), for the introduction of Pure Protection Contracts and Private Health Insurance, who are authorised and regulated by the FCA to provide advice and arrange Pure Protection Contracts and Private Health Insurance Contracts.  LifeSearch Partners Ltd is registered in England and Wales to 3000a Parkway, Whiteley, Hampshire, PO15 7FX, company number 03412386.

3. HUB Financial Solutions, for the introduction of equity release advice, who are authorised and regulated by the Financial Conduct Authority (‘FCA’) to provide advice and guidance on financial products for those who have retired or are approaching retirement (FCA Firm Reference Number: 455713). HUB Financial Solutions is registered in England and Wales to Enterprise House, Bancroft Road, Reigate, Surrey RH12 7RP, company number 05125701.

4. Alan Boswell Insurance Brokers Ltd (FRN 301), for the introduction of non-investment landlord insurances, who are authorised and regulated by the Financial Conduct Authority to provide advice and arrange insurance contracts. Alan Boswell insurance brokers Ltd is registered in England at Prospect House, Rouen Rd, Norwich NR1 1RE, company number 02591252.

Other financial services: Mortgage service provided by London & Country Mortgages (L&C), Unit 26 (2.06), Newark Works, 2 Foundry Lane, Bath BA2 3GZ. London & Country are authorised and regulated by the Financial Conduct Authority (registered number: 143002). The FCA does not regulate most Buy to Let mortgages. Your home or property may be repossessed if you do not keep up repayments on your mortgage.

We do not make, nor do we seek to make, any recommendations or personalised advice on financial products or services that are regulated by the FCA, as we’re not regulated or authorised by the FCA to advise you in this way. In some cases, however, we have included links to regulated brands or providers with whom we have a commercial relationship and, if you choose to, you can buy a product from our commercial partners. 

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