When Is the Best Time to Look for Car Insurance?
Table of Contents
The best time to look for car insurance is around 3 weeks before your renewal date. This is when insurers typically offer the most competitive prices. If you leave it too late, or renew on the day, you’re more likely to pay a higher premium.
Timing your search could save you up to 40% on your next policy.
Key points
Why Does Timing Matter?
Insurers view early shoppers as lower risk, they assume you’re more organised and less likely to make a claim. If you wait until the last minute, insurers may see that as a sign of riskier behaviour and increase your quote.
Here’s what the data shows:
- 21–26 days before renewal – lowest average prices
- 1–2 days before – among the most expensive
- Renewal day itself – often highest premium
Other Good Times to Look for Insurance
You should also shop around when:
- You’re buying a new or used car
- You’ve moved house or changed jobs
- You’ve had a birthday or major life event (especially turning 25)
- Your circumstances change (e.g. reduced mileage, different car usage)
Even if you’re not near renewal, you can often get a better deal by switching early, just check if your current provider charges cancellation fees.
There is a chance you’ll lose your no claims bonus for the year by doing this, but don’t worry any existing no claims will be safe. Check with your provider if you are unsure on this.
What About Automatic Renewals?
If you’re on automatic renewal, don’t assume it’s the best deal. Insurers rarely reward loyalty, and many drivers overpay by hundreds each year by not switching.
Set a calendar reminder 3–4 weeks before your policy ends and start shopping around.
Can I switch insurers before my renewal date?
Yes, but there may be cancellation fees. Still, the savings from a better deal can often outweigh the fee.
Do I lose my no claims bonus if I switch early?
No, your no claims bonus carries over to your new insurer, even mid-policy. However, you will not earn a new years no claims.
Can I lock in a quote early and activate it later?
Yes, most insurers let you buy up to 30 days in advance, lock in a low rate now, even if your current policy is still active.
Will I get a refund if I cancel my current policy?
You’ll usually get a pro-rata refund minus any admin fees or non-refundable costs (e.g. if you’ve made a claim).
In Summary
- Best time to look for car insurance is 3–4 weeks before renewal
- Early shoppers get better prices, last-minute buyers pay more
- Shop around after life changes, not just at renewal
- Set reminders to avoid auto-renewal price hikes
- You can switch early and still keep your no claims bonus history
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