Timing is crucial if you want to get the best deal on your car insurance, according to new analysis.
A study from MoneySavingExpert has revealed that the best time to buy is 21 days before your renewal date.
On the renewal date, the average policy costs £1,156, however three weeks ahead of this deadline, the average is just £589.
The consumer group analysed 18 million quotes between January and May this year from price comparison sites including ComparetheMarket, Confused, and MoneySuperMarket.
It also found that motorists who are super-organised pay over the odds. Buying 30 days ahead (the earliest point at which you can usually get a quote) of renewal typically worked out £531 more expensive than buying three weeks early.
Martin Lewis, founder of MoneySavingExpert, says: “Car insurance pricing is based on a mix of actuarial risk and which section of the market is targeted. To find the risk insurers look for patterns, and we've uncovered that one of those is how early you get a quote before renewal.
“To avoid being a last-minute loser, everyone with car insurance should at the very least, put a note in their diary 25 days before renewal to sort it within a week.”