05 Dec Car expert shares hack that could save you thousands on your car insurance
Motor guru, ‘Fish56octagon’, a self proclaimed car fanatic, who boasts over 225,000 followers on TikTok shares a lesser known hack that drivers are missing out on that can help them save thousands of pounds when shopping around for car insurance.
In a recent TikTok video that went viral with over 300,000 views, the influencer shared a savvy tip for car owners looking to bring down the costs of their annual car premiums.
The hack was sparked by advice from the nation’s favourite “Money Saving Expert,” Martin Lewis, who recently shared on The Martin Lewis Money Show Live that the ‘sweet spot’ to buy car insurance is 23 days in advance.
However, according to Fish, most people can’t wait and usually need cover sooner: ”One way around this is to choose your annual cover a few weeks ahead like Martin Lewis advises and then top up with short-term insurance from providers like Cuvva, while you wait for your annual policy to kick in. It’s a total game-changer for us drivers!
“Short-term car insurance essentially acts as a bridge. You can lock in more affordable premiums by buying your annual cover at the ‘sweet spot’, but you can still protect your car and hit the road in the meantime with short-term cover.”
One fan of Fish commented: “Best quote for my m2 in 30 days is £3,200, but if I change it to 23 days it drops to £1,600, crazy,” while another follower said: “I’ve just done it and it’s saved me £1,555.”
Leading temporary car insurance provider, Cuvva conducted an experiment to validate this hack, using the alias of a 25-year-old female from Birmingham.
On a price comparison website, the annual cost to insure the driver on a Skoda Fabia amounted to £3,806, if the policy was activated the following day.
If the same driver waits for the ‘sweet spot’ (23 days) to start the policy, the cost for their annual cover drops 55%, to £2,452.
It would cost the driver £178.50 to get insured on a short-term policy with Cuvva for three weeks. Meaning the driver would save a whopping £1,175.50 overall if they opted to buy their policy 23 days in advance and used short-term car insurance in the interim.
