When Is the Best Time To Renew Car Insurance?

Let’s face it: Renewing your car insurance is a chore. However, taking your time and getting it right could save you a significant amount of money. 

The best time to renew your insurance is 28 days before it runs out. Many drivers simply renew at the last minute without considering timing. But this can lead to you potentially missing out on cheaper premiums. 

In this article, we’ll explore the best time to renew your car insurance, how timing affects your car insurance quotes, and other practical ways to reduce your renewal costs.

• When is the cheapest time to renew car insurance?
• Does time of day affect car insurance quotes?
• How to bring car insurance renewal costs down
• What is the 21-day rule for car insurance?
• Which comparison site is best for car insurance in the UK?

When is the cheapest time to renew car insurance?

Research shows that your renewal date can have a real impact on how much you pay. The best time to renew your car insurance is usually around 28 days before your renewal date.

Waiting until the last minute may not always be the most cost-effective strategy, as the data shows the costs are most expensive on the day before. 

In fact, renewing a few weeks before your policy expires can often secure lower rates.

The table below shows the average premiums at different times leading up to a policy renewal, according to Money Supermarket’s research.

Does time of day affect car insurance quotes?

If the day you renew makes a price difference, you might wonder if getting a quote at 9 am versus 9 pm affects the price. 

Generally, insurers base quotes on factors like your driving history, car type, and location, rather than the exact hour you request the quote. 

While some anecdotal reports suggest prices can fluctuate slightly at different times of day, the differences are usually negligible. What matters more is how far in advance of your renewal date you start shopping around (in terms of days, not hours).

How to bring car insurance renewal costs down

Aside from timing, there are several other ways to reduce your renewal premium. If you have time, use these to get a better quote on your policy.

You can also bring your car-related fees down by using car repair finance to split surprise repair costs into interest-free instalments.

Compare quotes

Don’t just accept the first quote you receive. Use comparison tools and websites to find the best price for your needs. 

But always read the fine print of what’s on offer before you make a final choice!

Adjust your coverage

Evaluate whether you need comprehensive cover or if simple third-party, fire, and theft might suffice. 

Look at the value of your car and how much protection you realistically need when making this choice.

Increase your excess

Opting for a higher voluntary excess can lower your premium, though make sure you can afford to pay it in the event of a claim. If you’re unsure, it’s best not to commit to a higher excess.

Check for discounts

Sometimes, insurers give out loyalty discounts and multi-car policies. There are even safe driver incentives that can reduce renewal costs. 

So, while you’re renewing, it’s also a good time to review your driving habits. Could you drive more safely? 

What is the 21-day rule for car insurance?

The so-called “21-day rule” refers to the guideline that insurers often allow you to renew your policy up to 21 days before your current cover ends without losing benefits such as no-claims bonuses. 

Starting your renewal process within this window ensures continuous cover while giving you some time to compare quotes and lock in a better deal.

While the 21-day rule is useful to keep in mind, the research above shows that the most cost-effective time to renew is actually around 28 days before your policy expires. Consider renewing slightly earlier than the 21-day window to secure the lowest premiums while still ensuring uninterrupted coverage.

Which comparison site is best for car insurance in the UK?

Renewing your insurance well in advance is essential, but comparison sites are an invaluable tool when comparing different car insurance deals.

In the UK, popular platforms such as MoneySuperMarket, Compare the Market, and GoCompare allow you to compare hundreds of policies from different providers quickly. 

Each site has its strengths: some offer unique discounts or cashback deals, while others provide more detailed filters to narrow down coverage options. In our opinion, it's worth checking at least two or three comparison sites to ensure you’re seeing a comprehensive range of quotes. 

Remember, not all insurers appear on every site, so relying on just one platform could mean missing out on better deals elsewhere.

Last thoughts

Ultimately, if you want an affordable car insurance deal, you need to carefully balance timing, comparison, and careful evaluation. It’s a good rule of thumb to renew around 28 days before your policy ends, so don’t put this task off until it’s the very last second!

How can Bumper help 

Expensive car insurance deals are a bummer—just like surprise repair costs.

With Bumper’s car repair loan, you can split the cost of repairs into monthly payments at no extra cost. 

Apply online for up to £5,000 and choose from 1,000s of trusted repairers.