The price comparison website analysed over seven million car insurance quotes between January 2015 and October 2017 to identify monthly trends and regional price fluctuations. It found that historically December has been the most expensive time of year for motorists to insure their vehicles, while February is the cheapest.

The average fully comprehensive policy taken out in December 2016 cost £644, whereas those who insured just two months later, in February 2017, paid just £544.35– 15.47% less. The trend also held true in previous years.

The research also showed a sharp rise in premiums, having risen over 9% from an average of £530 to £577.92. Those in Northern Ireland have been hit the hardest, seeing their premiums rise 17% in the past two years, from £460.75 to £539.72.

Kevin Pratt, consumer affairs expert at MoneySuperMarket, said: “Savvy car-buyers often wait until December to track down a bargain – they know dealers will want to maximise sales before the end of the year, and so might be willing to offer a deeper discount than at other times. But the downside to this tactic is that insurance is more expensive in December, eating into your purchase price savings.

“It pays not to settle for the price you are quoted by your existing insurer at whatever time of year, but especially in December. If you use a price comparison site to shop around, you’ll see dozens of quotes from leading providers, and the likelihood is you’ll have a wide selection that are quoting less than your present insurer. We calculate most people can save £286 by switching insurer at renewal.”