You might think that it does not make the slightest bit of difference when you renew your car insurance - but you would be wrong. That is the view of money-saving expert Martin Lewis.
Martin says that the 'sweet spot' for looking for a new deal is exactly 23 days before your insurance renews. From that point on, he says your insurance is likely to creep up until potentially doubling. He added that he has been giving this tip to people for years and had not noticed any increase in price from insurance companies for people who were buying their insurance 23 days out. This, he said, proved that the technique was still working, despite premiums surging by up to 60 per cent nationwide.
He said: "The type of people who leave getting quotes to the last minute before their renewal are the type of people who are high risk when it comes to home and car insurance and make more claims.