According to new data from Go.Compare home insurance, the best day to buy your cover is 27 days before your renewal is due. The data also shows that policyholders could pay 19 per cent less if they buy on this day, compared with the day before their renewal is due.
The findings are based on the average premium paid by policyholders for all buildings only, contents only and buildings and contents insurance in September 2022 and show that, on average, the cheapest time to buy a home insurance policy is 27 days before the renewal is due. The same data also shows that the most expensive day to buy a policy is two days before the renewal date.
Commenting on the new data, Ceri McMillan, home insurance spokesperson for Go.Compare, said: “At a time where we are all looking to save money on our outgoings, this type of information could come in really handy if you’ve just had your renewal notice from your current insurance company.
