Motorists who renew their car insurance at the 'sweet spot' could save an average of 33% to 45% on annual premiums, according to new research. Get the latest top news stories sent straight to your inbox with our daily newsletter We have more newsletters Get the latest top news stories sent straight to your inbox with our daily newsletter We have more newsletters Motorists could pocket a hefty 45 per cent saving on their car insurance by renewing at the "right time", according to experts. Amidst the ongoing Cost of Living squeeze, drivers are being advised to hit the "sweet spot" for renewal to potentially slash their insurance costs by nearly half.
Car owners stand to "save up to almost 50 per cent" on their insurance premiums if they act 15 to 24 days before their current policy is due to lapse. Research from Quotezone.co.
uk has pinpointed that this is the optimal time to do so in order to make the biggest savings. This savvy timing could net drivers an average discount ranging from 33 to 45 per cent, Birmingham Live reports. Greg Wilson, the founder and CEO of Quotezone.
co.uk, commented: "Although car insurance costs appear to be starting to stabilise following the record highs they reached over the last 12 months, it's important for drivers to make sure they're not overpaying for their premiums." He highlighted common pitfalls that can lead to costlier premiums, such as automatic policy renewals, failing to shop around for better offers, and last-minute policy purchases.
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