Drivers who agree to follow '15 day rule' can get car insurance cut by 45 per cent

Drivers can save an eye-watering 45 per cent on their car insurance costs by renewing at the "right time". Drivers could save as much as 45 per cent on their insurance by choosing the "sweet spot" of when to renew as the Cost of Living crisis continues.

Motorists can "save up to almost 50 per cent" on premiums by acting 15 to 24 days before their current policy runs out and expires. Data from Quotezone.co.uk found that the "sweet spot" for renewing a car insurance policy is 15 to 24 days before their coverage ends.

It could save drivers an average of between 33 and 45 per cent. Greg Wilson, founder and CEO of QuoteZone.co.uk, said: "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.

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“Some of the most common costly mistakes drivers make are letting their policies renew automatically, not shopping around for better deals and leaving it to the last minute to purchase the policy. Drivers generally get notified a month before the policy is about to expire, and that’s the perfect time to start shopping around and comparing different providers – purchasing 15 to 24 days before the policy start date for the largest potential savings."

Wilson continued, saying: "If possible, it’s also best to pay the entire annual premium upfront to save on interest payments and even consider adding an experienced driver to the policy – just be careful the main driver actually drives the car the most.

“When looking for affordable insurance, it's important for drivers to make sure they are not sacrificing protection in the event of accidents or unexpected situations. And remember, drivers must never give inaccurate information to help lower costs, this could void the coverage entirely."