What time of year is best to buy car insurance?

If you look at the auto insurance industry as a whole, December is generally a good time of year to look for quotes. Because auto insurance is regulated by the state, you usually won't find an insurance company that offers holiday promotions or discounts, according to The Zebra.

Usually, the closer the renewal date gets, the more likely you are to pay for your car insurance.

The cheapest time to renew your car insurance policy is usually two to four weeks before the renewal date. Why? Because insurers know that you'll be increasingly interested in getting your coverage as the expiration date of your current policy approaches. Their logic is that this will make you more willing to pay a higher price.

There are two main reasons why car insurance costs may rise at the time of renewal. The first are economic factors, such as the tax on insurance premiums, vehicle repair costs and the number of uninsured drivers on the road. When is the best time to buy car insurance? MoneyGeek recommends looking for car insurance at least once a year, but certain circumstances may also make it necessary to reevaluate your options sooner. Here are some common situations that should lead you to seek car insurance.

Any change in your life may require a reevaluation of your auto insurance policy, whether you're buying a new car or a home, as some changes in your life can affect your premiums. If you can't pay for your insurance all at once, a credit card with a 0% purchase will allow you to spread the cost without interest. For starters, it's cheaper to pay for car insurance in advance annually than in monthly installments, since you'll be charged “interest” for paying monthly. The annual comparison of car insurance policies can help you get the coverage you need at the best possible rate for your situation.

The only way to ensure you're getting the best deal is to keep looking for your car insurance every year. Searching for car insurance doesn't have to take a long time, as insurers have online quotes and car insurance comparison tools to make the process easier. If you're not happy with your current car insurance company, you can start searching and change providers. However, this decision doesn't mean that your current car insurance provider will necessarily offer you the cheapest price when your car insurance policy is pending renewal.

For more information on Travelers car insurance, find an independent local agent or contact your Travelers representative. In addition, car buyers should try to avoid Saturdays, unless they're there to get a holiday weekend deal. Fortunately, there are ways to minimize car insurance costs, such as knowing the best time to renew coverage. Both of these factors can increase or decrease your rates, so it's also essential to consider which cars are the cheapest to insure before buying a new vehicle. However, one factor that can no longer affect your car insurance premium is whether you're a new or existing customer.