Is ‘Car Insurance Day’ the Best Day to Buy Car Insurance?

Next Monday, February 1st, is “Car Insurance Day,” which is a great time to review your current car insurance rates. And while picking one day out of the year to pay attention to one of the things in your life that you probably never pay attention to might sound weird, reviewing your options can actually save you a lot of money over time. But does that mean that Car Insurance Day is the best day to buy car insurance?

What is Car Insurance Day?

According to Happy Days 365, the true origins of Car Insurance Day are unknown. But they do know that it’s technically celebrated every February 1st. And while it’s basically just another non-official holiday akin to days like “National Siblings Day” and “National Chocolate Cake Day” (which is today, January 27), it’s still a good time to go over your current car insurance policy and figure out if you need to make any adjustments to it.

The front end of a vehicle after a car accident
Car Insurance | Win McNamee/Getty Images

Car insurance never goes on sale

While we would like to think that Car Insurance Day would likely be the best day to buy insurance, the truth of the matter is that car insurance never actually goes on sale. As such, there’s no wrong time to switch car insurance companies if you find one that can offer you the same coverage, if not better, for cheaper. However, do note that timing is everything when it comes to buying car insurance. states that many of its users shop for car insurance an average of 41 days before their current policy is up to get the best rate possible. The reason for this is that most insurance policies are six months long, which gives your insurance company plenty of time to raise your rate if you’ve been in an accident during that time, but that also means you have a lot of time to shop for a better rate before your policy is up.

Car Insurance Premiums
Car Insurance Premiums | Steve Liss/The LIFE Images Collection via Getty Images/Getty Images

No insurance company is the cheapest

If you do look into your current insurance policy and find that you do want to make some adjustments or even shop for a lower rate, then be sure to compare quotes between different companies to find the lowest one. Just because one insurance company advertises that they are the lowest on TV, it doesn’t mean that’s always the case. Nerd Wallet conducted an analysis based on a hypothetical 40-year-old driver with a clean driving record buying a full coverage policy on a 2018 Toyota Camry LE.

What they found was that in Florida, State Farm quoted them $1,766 per year, while Geico was $239 higher. On the flip side, in California, Geico was the cheapest with an average rate of $1,458, while State Farm quoted them $423 higher. So the moral of the story is that insurance quotes can vary widely depending on the driver, the type of car you’re insuring, and even your location.

A crashed black car
A crashed car | Joe Giddens/PA Images via Getty Images

Don’t Expect Your Car Insurance Rate to Keep Getting Cheaper

Always ask for a discount

Since we’re on the topic of saving money on car insurance, Nerd Wallet also suggests to always ask for any discounts possible when shopping for a quote. Many insurance companies will give discounts for the following:

  • Bundling car insurance with other types of insurance (renters, home, etc.)
  • Insuring multiple cars under the same policy
  • Having a clean driving record
  • Paying for your insurance policy all at once
  • Agreeing to paperless billing
  • Having anti-theft equipment on your car

With all of this in mind, be sure to shop around and get multiple quotes before committing to anything. While February 1st might not mean that you can score the best deal on car insurance, it can at least be a good day to save some money by switching your insurance policy to a different company.