What is the best time to get car insurance?

popalock

I remember speaking to a car insurance broker a long while back and him mentioning that insurers have internal limits on how much or what profile type of customer they have within a given period. i.e as the month or quarter goes on, insurers use up their insurance credit pushing up the price of quotes they send out.

this would imply that it would be cheapest to take out insurance at the start of the month or period for the particular insurer.

Any one know if there is any truth to this?

Prices change daily from the same insurers so I wanted to better understand the underlying variables in their quote engine to explain the pricing volatility.

dunstonh

What is the best time to get car insurance?

In the period before the renewal is due

Any one know if there is any truth to this?

Software allows brokers and insurers to adjust their pricing on a daily basis if they want. As the criteria for doing this is not in the public domain and not consistent (as you wont know why they are changing it or their reasons) then it is very difficult to plan.

forgotmyname

I found getting too many quotes pushed the premium upwards.

But its pot luck.

rs65

popalock wrote: »

and him mentioning that insurers have internal limits on how much or what profile type of customer they have within a given period. i.e as the month or quarter goes on, insurers use up their insurance credit pushing up the price of quotes they send out.

I've known this for some types of insurance but not motor.

Insurers can have an annual (calendar year) capacity which may be used up before the year ends, but reducing capacity doesn't always push price up. On the contrary, surplus capacity may push prices down.