Martin Lewis details precise moment when to take out car insurance to save money | Personal Finance | Finance

Are you nearing your car insurance renewal? 

Finance guru Martin Lewis, founder of MoneySavingExpert, has shared some tips on how to best manage your money, from which debit cards are best to use on holiday to when you should open a Cash Individual Savings Account.

In an episode of The Martin Lewis Money Show Live on ITV, he details when is the most cost effective time to take out new car insurance. If you’re too renew in a few weeks, your time may be now.

“It’s important to understand with insurance, just like with comedy… timing is everything,” Lewis said.

Lewis recommended viewers explore different options instead of participating in automatic renewals. That’s because as you’re nearing your renewal date, getting a quote from somewhere else can cut your cost in half.

READ MORE: Martin Lewis urges Britons to apply for support worth up to £40k as deadline looms