There is no best time to buy car insurance. You can save money by timing your shopping. The best time to buy car insurance is February and August. Whether you are buying your first policy or renewing your existing policy, remember that the best time to buy your policy depends on your needs and your budget. If you are shopping for a new policy, try to buy it 21 days before the commencement date.
August and February are the cheapest months to buy car insurance
If you are looking for the cheapest time of year to buy a new car. So consider August and February. Prices are a full 10 percent lower this month than in December. The cheapest month to buy car insurance is not necessarily the cheapest month to buy it. Prices may vary depending on external factors. It’s best to find a quote three weeks before your desired start date, so you don’t pay more for your policy than you need to.
According to research by MoneySuperMarket, February and August are the cheapest months to buy car insurance. The study looked at 49 million car insurance quotes over the past seven years. These two months were the cheapest months to buy car insurance for a particular type of vehicle. It found that February and August were the cheapest months to buy car insurance on average for both 2017 and 2018. Although there are exceptions, August and February are the cheapest months to buy car insurance.
21 days before the start date
If you’re planning to buy car insurance a few months in advance, you can lock in your quote by doing some comparison shopping online. So you will save around PS589 compared to the first quote. Buy your insurance a few days before you need it. So your premium will be lower. You should not commit to buying your insurance 21 days before the start date.
While this may not be the best time to buy car insurance, it’s worth a try anyway. This is because you are better off contacting multiple insurance companies than waiting until the last minute. A good time to compare quotes is at least 21 days before the start date. While the largest number of insurance companies provide quotes for your needs. You can also get the cheapest rate for your car insurance by shopping early.
Before you sign on a car
Insurance companies make money by paying claims and avoiding dangerous drivers. People with poor driving records may find it difficult to get insurance. If their driving history has resulted in an accident. The fine print outlines your responsibilities and the exclusions of your coverage.
Before you renew your policy
Before you renew your car insurance policy, you may want to make some changes to it. Companies often change rates and coverage. It is best to renew your policy well before the expiry date. If you let your policy lapse, you are liable for damages or injuries in the event of an accident. Here are some steps to follow before your renewal date:
First, make sure you review your personal information before renewing. Most insurance companies only increase your rates once a year. So any mid-term rate hike is a fee. You will also want to pay your premiums on time. Late payments may result in a higher rate than you initially paid. If you pay on time it will be gone next month.
