Is December the most expensive month to insure your car? | Adrian Flux (2024)

FAQs

Is insurance more expensive around Christmas? ›

Drivers who insure their cars in December may pay more than 15% more than those who insure in February, the cheapest time of year, research by MoneySuperMarket found. However, December does not need to be more expensive than any other month of the year when using an insurance broker.

In general, there isn't a specific time of the year that is considered "the best" time to shop for car insurance. That being said, some experts think December is a good time to get quotes. This is because some insurance companies may make rate adjustments at the beginning of the new year.

The cheapest time to get quotes is 20 to 26 days ahead of your renewal date – cover becomes more expensive the closer you get. It's the same if you are buying car insurance for the first time.

The Insurance Institute for Highway Safety reports that teen drivers are four times more likely to get into a car crash than drivers 20 and older. As a result, car insurance companies view young drivers as the most risky to insure. Drivers ages 16 to 24 tend to face the highest premiums compared to other age groups.

Our data shows that insurance costs are at their lowest on a Monday, where the average price is £647*. The most expensive day is Saturday, where insurance costs are £695, on average*.

When is the right time to renew car insurance? Generally, the closer you get to your renewal date, the more you're likely to pay for your car insurance. The cheapest time to renew your car insurance policy is generally about two to four weeks before your renewal date.

Yes, it's a good practice to shop around for car insurance and compare coverage and rates from three to five providers. If you just shop from one company, you won't know if it's offering you the best coverage options or the best price.

Most driving infractions and at-fault accidents will fall off your insurance record after three years. If you've been a good driver for the last few years, you may notice your rate decreasing.

One of the largest factors in your premium is also your vehicle itself—particularly the age of the car. While it might not seem logical since the value of your car is not increasing as it gets older, your insurance premium can continue to go up.

It's a good idea to review your insurance coverage annually, regardless of what kind policy you may have. You don't need to wait until it's time to renew your auto policy if you want to switch insurance companies – you can do it at any time. However, some may impose a cancellation fee for dropping a policy.

Is it cheaper to insure an older or newer car? ›

Key Takeaways: Insurance for new cars is usually more expensive because they cost more to repair and have higher values than used cars. USAA, Nationwide and Geico offer some of the lowest rates for both new and used vehicles. Most lenders require full coverage on financed vehicles whether they're new or used.

It is usually best to buy car insurance before you get your new vehicle. If you already have car insurance for another vehicle, you may not yet have to buy another plan. Most insurance companies offer a short grace period in which your new car is covered.

In general, car insurance companies charge male drivers more for coverage because they're more likely to get into accidents. But while most states allow insurers to consider gender when setting rates, your age, location, insurance provider and driving record usually make a bigger difference.

Nationwide has the lowest average rates for older drivers and is the best car insurance company for seniors in 2024. Its rates, low number of complaints to state insurance departments and coverage options, like usage-based car insurance, also earn it the title of best car insurance of 2024.

Between 10 and 15 years after a vehicle's model year, full coverage is a poor investment. While the cost of full coverage by itself likely won't be more than what a car is worth, the cost of insurance is more likely to be higher than the value of the car after an accident.

December is the cheapest month to buy a car because that's when car dealerships are clearing their inventory to make room for next year. It's also when car salespeople are competing to meet their yearly, quarterly and monthly quotas.

Shopping after Christmas might mean waiting longer for a particular item, but the money you save on that product will make the wait worthwhile. You'll see a lot of deep discounts on products ranging from electronics to clothing, and just about every other retail item that is updated in the January inventory turnover.

Along with peak summer, the period between Christmas and New Year's is typically one of the most expensive times of year for flights. It is, not surprisingly, also one of the most popular times of year for travel.

Christmas and New Year are the most celebrated holidays in the world. Which means they're peak times for travel. So, what should you remember? Flights will cost more, and booking in advance is even more critical.