DRIVERS could end up saving hundreds of pounds thanks to a new car insurance trick shared by money saving guru Martin Lewis.

The expert, who has gained fame for his useful advice and tips, appeared on ITV's This Morning last week.

During the show, Mr Lewis advised that drivers switch their insurance policy at a precise time to save money each year.

Mr Lewis announced that 23 day prior ro your insurance renewal date is the best time to renew.

This is because people who leave it late are often seen as a higher risk and less responsible.

The Money Saving Expert, which is led by Martin, says it came up with the 23 day figure after looking at around 18 million car insurance quotes.

On the show, Martin said: "If you're coming towards your renewal date the perfect time to renew and note this in your diaries now everyone, 23 days before your quote, before your renewal.

"Now that's when you should be comparing it's not with your existing company.

"It can be nearly double the cost if you leave it to the day before renewal to get your renewal.

“And that's again because insurers know that people who do it early tend to be a lower risk than those who wait until the last minute.

“I, brackets my team, went through 18 million quotes from comparison sites."

"It goes from £1,000 from 30 days before, it gets to £800 at 23 days and goes up to £1,200 the day before renewal.

"So it's simply elbow work between me and my team to get that one."

The Money Saving Expert website also recommends driver shop around before renewing claiming that "loyalty is expensive".

The website says: "Nothing better illustrates car insurers preying on loyal customers than Sarah Cooper's tweet. 'My car insurance renewal is £1,200. New policy with same company is £690. How do they justify this?' They don't. They just do it.

"Insurers charge more each year, knowing inertia stops policyholders switching.

"And even though rules introduced in 2016 mean insurers must now tell you the premium you paid last year in correspondence to you, don't rely on this to take action.

"If your renewal is coming up, jot it in your diary to remember it.

"Compare comparison sites' quotes and then call your insurer to see if it can match, or even beat, the best one you found. If it can, you're quids in."