Experts are urging motorists to ensure they are taking steps to cut the price of their car insurance policies, with a certain time period bringing the best savings.
New data has shown that the average price of car insurance is £757, with drivers seeing a 16 per cent drop in the last 12 months, worth £144.
However, millions of drivers are still facing higher renewal prices, even though it could be avoided. Experts have continued to warn that motorists need to shop around when looking to renew their insurance.
By comparing different costs and prices, drivers may be able to save hundreds of pounds a year by leaving their current insurer.
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Experts are urging drivers to make savings when renewing their car insurance
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Rhydian Jones, motoring expert at Confused.com, explained to motorists that there was a particular time when drivers would be able to make the most savings.
He said: "Though it shouldn't be taken as a final price, shopping around is the only way to see the cheapest options for you.
"Doing this around three weeks before your renewal is due could be the best time to get the lowest price."
The majority of drivers are found to shop around for their car insurance around 15 days before their renewal.
The average car insurance premium has fallen to just £757
GETTYResearch from Confused.com found that the optimal time to renew a car insurance policy is around three weeks before the renewal date rolls around.
The experts also advised that drivers should try lowering their premiums by not "underestimating your mileage", or they could end up spending more.
Data revealed that motorists who report 5,000 miles per year pay an average of £809. Meanwhile, those driving 10,000 miles pay an average of £746.
Jones continued, saying that when renewing their car insurance policy, drivers should never forget to review their details.
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He added: "Ensuring your mileage is accurate, or enhancing your vehicle's security could also save you money on your insurance.
"And if you have the option to share the driving, adding a named driver can offer some savings too.
"Be savvy and prepared when it comes to your car insurance - it's the best way to make sure you’re getting the best price at a time when any money back in your pocket is no doubt welcomed."
Motorists can also save when adding a named driver to their policy, especially if they have more experience, as it could reduce costs.
Drivers are consistently urged to shop around when renewing their car insurance to potentially save hundreds of pounds
GETTYAn average car insurance policy with just one driver will pay around £853, while a policy with an additional driver will cost £735.
Shockingly, savings can be heightened if the additional driver is a spouse. This could see prices plummet to just £534 on average.
Despite this, drivers must ensure they are not accidentally committing fraud, in a practice known as "fronting", which can see policies cancelled.
This is when someone declares themselves as the main driver of a car, even though someone else is travelling in it as the primary driver.
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