When to switch car insurance | comparethemarket.com

A simples guide

When’s the best time to switch car insurance?

If you want to save money on your car insurance, our research shows that you should get a quote three weeks before your renewal date. 

Save money by switching earlier rather than later

According to our data, drivers could save an average of £365.08 if they switch their car insurance provider three weeks prior to the renewal date – at that point, the average cost of a policy comes in at £428.65, compared to an average price of £793.73 on the day of renewal. In spite of that, 23% of customers wait until the actual day their renewal is due before shopping around.

While the optimum time to look at switching your car insurance is three weeks in advance of your renewal date, our data shows that car insurance premiums increase significantly between seven and 14 days prior to the renewal date, meaning that you can still make a saving if you fall short of the three-week mark.

how to save money on high cost car insurance

How does switching earlier affect different age groups of drivers?

Our data shows that younger drivers tend to save the most money by switching their car insurance three weeks early. A driver under the age of 24 could make an average saving of £280**.

Drivers within the 25-34 age group could save, on average, £7.42 less than a driver under 24. However, this is still an incredible saving of £310.80 by switching three weeks before your renewal date. Drivers aged 35-44 see a more substantial drop, with their average saving coming in at £242.02.

If you fit into the 45-54 category, you can still find joy in savings that average £210 per year, while drivers aged between 55 and 64 save a little less – £188.52, on average. It’s older drivers over the age of 65 who tend to save the least, at an average of £147.94.

view of the back of a car on the road at sunset

Compare car insurance and save money

Want to know just how much you could save on your car insurance? Start a quote today and we’ll compare more than 100 car insurance providers to find a deal that’s right for you.

**All average price amounts based on comparethemarket.com data from January - March 2018. You may find a cheaper or more expensive quote based on your personal circumstances. For more information read our young drivers report here

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