The 13-day window when drivers can secure the cheapest car insurance

Car insurance, like car tax and repair bills, is a permanent drain on drivers’ finances but choosing the right time to renew can have a significant impact on how much you pay.

New analysis of quotes has shown that there is a 13-day “sweet spot” when drivers can secure the cheapest policies, saving more than £80.

The number-crunching by MoneySuperMarket also shows the worst time to start shopping for a new policy, when drivers can expect to pay up to 17 per cent more.

According to the figures, shopping around between 15 and 28 days before your policy renewal will secure the biggest discounts. Using MoneySupermarket’s data, the average car insurance policy is £490 and buying during the 13-day window can be up to £83 cheaper than leaving it until the last minute.

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From 14 days ahead of renewal, prices start to creep up and rise exponentially from seven days in advance up to the renewal date.

Kate Devine, car insurance spokesperson at MoneySuperMarket, commented: “Many of us leave renewing our car insurance until the last minute. Insurers know this which is why we see renewal prices increasing the closer to your policy’s end date.

“What our research shows is that it pays to be organised. Customers who renew their policy in the 15 to 28-day window could save the best part of £83 pounds versus those that renew at the last minute.

“And, of course, if you haven’t renewed your car insurance for a while, it’s likely you could make even greater savings, so make sure you shop around for a new deal – doing so is quick and could save you up to £218.”

Buying at the right time can have a significant impact on car insurance costs (Photo: Shutterstock)

While shopping around and buying at the right time are two ways to find a better deal there are also other steps you can take to cut your insurance costs. These range from thinking carefully about what you use the car for and how far you drive each year, to including or excluding family members from your policy or considering a telematics policy that tracks your driving.

For more advice on ways to save money on car insurance take a look at our guide here.