This insight comes from Money Saving Expert (MSE), the consumer finance advice site founded by Martin Lewis. Using over one million real insurance quotes, MSE found that timing, rather than just comparison, plays a critical role in determining price.
Why 26 Days Matters More than You Think
The research behind this advice is striking. According to MSE, the average cost of a fully comprehensive car insurance policy purchased on the renewal date is £2,277. But those who secure a quote exactly 26 days in advance pay an average of £906. The result is a potential saving of £1,371, over 60% less than those who wait. This pattern was drawn from data collected between January and April 2024, using MoneySupermarket’s comparison tool.
“The cheapest time to get quotes is 26 days ahead of your renewal date,” MSE states on its official website. “Cover becomes more expensive the closer you get.” The site also warns that requesting quotes too early, such as more than 28 days in advance, can also increase prices. This is likely because fewer insurers are willing to offer policies that early in the cycle.
The industry views last-minute shoppers as higher risk, according to insurers cited by MSE. “Insurers have told us they’ve seen a direct link between drivers who leave sorting their insurance to the last moment and those who make a higher number of claims,” says the guide.
Early Renewal Beats Auto-Renewal
Most policies in the UK run for 12 months, and renewal notices are typically sent around 28 days before expiry, detailing both the previous and new premium. If the policyholder does nothing, the insurer will usually automatically renew the policy at the quoted price.
This practice often leads to significantly higher premiums. According to MSE, many motorists accept renewal quotes without comparing them, assuming their driving history or circumstances haven’t changed enough to warrant a major difference in price. But premiums fluctuate for other reasons, such as the rising cost of vehicle parts, increased repair charges, or simply a change in the insurer’s pricing strategy. A driver’s unchanged personal record doesn’t shield them from such market shifts.
MSE encourages drivers not only to compare quotes using their Compare+ tool but also to use a quote-timing strategy. The site includes built-in reminders and personalised tips, such as adding a second driver or adjusting job titles, strategies that can legally reduce quoted costs. Real examples support this approach. One MSE user reported reducing her premium from £108 to £51 per month by acting 21 days early. Another saved over £690 by renewing 24 days in advance.
