When is the best time to buy car insurance?

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Yes, if you’re feeling lucky, it’s time to welcome February with open arms, despite the terrible storms out there. We know that traditionally, February may not be the month with the most to cheer about, what with crappy weather and dark nights and still not making up the pennies after Christmas, but if you’re savvy, here’s a great way to save yourself £100.

Yes, this month is the cheapest time to buy your car insurance, so, if you were thinking of trading in your old car, why not do it now and save yourself a packet each and every renewal date? New research shows that buying in February can be around £100 cheaper than if you buy your car insurance in December. 

This is partly because it’s a quiet month overall in the motor trade and the car insurance industry, with most drivers waiting to get their hands on a new registration plate, which are released in March each year. 

As always, the cost of being on the road decreases considerably as we get older, assuming you’ve got no convictions and penalties, with a difference of almost £700 between a 20-24-year-old on the road, versus an over 65, who only spends around £286.

If you’re not going to be able to stretch to a new motor any time soon, or aren’t in a position to switch your renewal date any time soon, all is not lost. The second-best time to purchase cheap car insurance is August – not only do you have the advantage in the dealerships that a lot of people are on holiday, but also, they are waiting for the new plates to drop in September. Not a problem though, if you’re buying used anyway.

Finally, if you’re looking for the best car insurance deal out there, don’t forget to check out our free quote tool on our website – we guarantee well deliver a range of highly competitive car insurance renewal quotes directly to your inbox – whatever the time of year. 

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