Martin Lewis has warned motorists that auto-renewing your car insurance is “never the right thing to do” and explained that the “perfect time to get quotes is around 23 days” before your current policy expires. The financial guru also advises people to check “at least two or three” comparison websites to find the cheapest deal before renewing.
During his latest BBC Radio 5 Live Podcast, the money expert shared how sending yourself a delayed delivery email or making a note in your diary, could cut the costs of renewing your car insurance by 50 per cent - potentially saving you hundreds of pounds. Martin admitted that renewing 23 days before the policy ends may “sound bonkers, but it’s absolutely true, timing can save you hundreds of pounds”.
Martin and the team at MoneySavingExpert.com analysed more than 70million car insurance quotes to find the exact date to renew to get the cheapest deal, and 23 is the magic number - although he added that “three or four days either side of that doesn’t make much difference”.
