Martin Lewis: How to halve your car and home insurance costs just by getting it on the right day

MSE_Molly_G

You could HALVE the cost of your car and home insurance just by getting renewal quotes on the right day. MoneySavingExpert.com founder Martin Lewis shared the tip and explained why it works on the latest episode of ITV's The Martin Lewis Money Show Live.

Watch the clip:

Martin Lewis: How to halve your car and home insurance costs just by getting it on the right day – and why it works

If you haven't already, join the forum to reply.

la531983

Half car insurance cost, aye right. 

Lorian

My renewal quote is 49% up on last year. Normal risk driver, family car not special, not an EV.

I've been updating my car insurance quotes on 3 of the largest price comparison sites for 10 days. It's now 30 days to renewal.

In the last 10 days the best prices have not changed more than £5.

I'm looking forward to day 23 when it halves.....

[Deleted User]

One thing it doesn't explain is it it works if you get early quotes at say 30 days out, and then get more at say 25 days out.

Does getting quotes early lock in the high prices?

mark_cycling00

This simply isn't true. I don't know why this site persists in peddling this fantasy.

I did comparison site quotes every week from 8 to 1 weeks prior to my renewal date and my quotes were exactly the same every time.

Whilst some more expensive providers may have fluctuated their prices over this period, the cheaper 10 providers did not.

The timing of obtaining a quote was therefore irrelevant. 

mark_cycling00

It's fairly unethical to tell people In financial hardship that they will be able to save £100s just before Christmas when this isn't the case.

People may make financial commitments based on this misleading advice.

I like the way you capitalize "HALVE" just like scam emails would do 

[Deleted User]

mark_cycling00 said:

This simply isn't true. I don't know why this site persists in peddling this fantasy.

I did comparison site quotes every week from 8 to 1 weeks prior to my renewal date and my quotes were exactly the same every time.

Whilst some more expensive providers may have fluctuated their prices over this period, the cheaper 10 providers did not.

The timing of obtaining a quote was therefore irrelevant. 

That's what I'm asking. If you do an early quote does it lock in the high prices? Seems like it does, so you have to wait for 25 days and don't be tempted to look before.

MSE_Molly_G

QrizB said:

@MSE_Molly_G is this really an "energy" story?

Hi, sorry about this! The discussion has now been relocated  

JMTC1966

interestingly, having had renewal notices 1 month in advance from Admiral for the past 20 years, giving me enough time to compare with quotes from other companies and renegotiate my renewal quote, suddenly this year for the first time Admiral are not sending me my renewal notice until 23 days prior to my renewal date.  Seems mighty suspicious to me....

Lorian

Down to day 27 and best renewal has gone down by £2 Not holding much hope for day 23....

Lowest three companies all the same ones.

[Deleted User]

I think you have screwed yourself by doing a quote too early, locking in high prices. I think you need to wait for day 23 before doing a comparison.