British motorists are being warned about a common mistake that could lead to significantly higher car insurance costs.
According to new data from price comparison site Confused.com and global advisory firm WTW, car insurance premiums in the UK have fallen to their lowest level in two years. While that sounds like good news, experts say many drivers still end up overpaying due to poor timing when buying or renewing their insurance.
Tom Riley, a car finance expert and the founder of Simple PCP Claims, says one of the most costly errors drivers make is waiting until the last minute to purchase a policy.
“Most people leave buying their car insurance until the last minute,” Riley said. “But if you’re starting your policy tomorrow, you’re essentially telling insurers you’re desperate — and they’ll charge accordingly.”
Insurance companies know that last-minute buyers often don’t take the time to compare prices. Because of this, they can afford to increase premiums, knowing customers urgently need coverage.
To avoid higher costs, Riley recommends planning ahead. He advises starting the search for a new policy well before the current one expires. Giving yourself a few extra days can lead to better prices and more choices.
Another lesser-known tip? The day your policy starts could also affect how much you pay. Riley suggests starting a new policy on a Sunday, as insurers may offer lower rates compared to other days of the week.
With car insurance prices currently down, drivers have a good opportunity to lock in a better deal—if they avoid last-minute decisions and shop smart.
