Martin’s Money Saving Expert newsletter said: “The SWEET SPOT to get quotes which could halve your price. We analysed 1.2m quotes to find the optimum time before you want your cover to start to get quotes from new firms. The data shows it bottoms out at 26 days before renewal, though any time between roughly 20 and 27 days should do the job.”

According to MoneySavingExpert, a motorist only known as Rob got in touch to share exactly how much money he had saved using the tip. Amazingly, the road user confirmed he was “delighted” to cut more than £400 off the cost of his annual bill. 

The email read: “Martin, I won. I recently had a renewal quote for my car insurance which was overly expensive. 

“I followed your advice 26 days before (sweet spot) and used comparison websites. My insurer couldn't match any of the quotes. Thanks to your advice, I have saved over £450/yr on my car insurance. I'm so delighted. Keep helping people save money!"

Motorists get a cheaper deal for thinking ahead and booking in advance as a result of the risk profile of individuals. According to GoCompare, drivers who renew their cover early might be viewed as more responsible. 

These road users are probably viewed as less likely to claim than individuals who sign up at the last minute. Alongside the advice, MoneySavingExpert warned that motorists should never accept a renewal quote even if an insurer drops their initial price. 

They warned drivers were likely still “overpaying” and should shop around for new quotes to see what was on offer. This was because car insurance prices are generally down with rates 16% lower over the last 12 months due to year-on-year rises. It means motorists who are even offered 10% lower than last year could still make major savings if they shop around.