INSURANCE experts have revealed the cheapest models to cover and the exact time to nail the best policy.

Specialists from Go.Compare shared their top tips for keeping costs down when your renewal period comes around.

Their research showed that car insurance costs are on the rise, but certain motors can still be covered for a very reasonable sum.

The overall cheapest model was the BMW Z3 with an average premium of just £144.

However, the data revealed that prices can vary wildly depending on the age of the driver, with some shocking results.

The figures were broken down into top 10 lists of the cheapest cars across driver three age groups: 17-24, 25-50 and 50+.

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This uncovered that younger drivers are having to pay vastly more for their insurance due to their age and associated lack of experience on the roads.

For example, £144 for the BMW Z3 was for over-50s, while the cheapest car to insure for a 17-24-year-old is a VW UP! at a whopping £605.

Even more traditionally high-value vehicles, which you would expect to have higher costs attached, were made affordable by simply being older.

The cheapest premium in the 25-50 age group was £274 to cover a Porsche Boxter, but you can bet a teen trying to take out a policy on a sports car like that would see sky-high bills.

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Even when comparing identical cars, the gulf between the prices paid by old and young was staggering, as demonstrated by the Citroen C1 appearing across all three lists.

It popped up 10th on the over-50s list at £225, fourth for 25-50s at £299 and second for under-24s at £614.

Thankfully, Go.Compare's team were on hand to share some expert hacks for reducing the heavy costs, including exactly when to take out your cover.

They strongly advised buying your insurance well ahead of your renewal date, with 27 days being the best time to do so.

You can contact your insurer directly or check comparison sites to get the best deal then "lock in" the price you are quoted on that day.

The experts added: "Make sure you always shop around. The price your insurer quoted you a year ago may not be the most suitable deal for you this year so avoid letting your policy automatically renew."

Likewise, paying for insurance annually could save you big.

Coverage is only sold in annual instalments so, if you select to pay monthly, it is effectively a form of loan from your provider.

This allows them to add interest payments on top of your bills, costing you more in the long run.

Tom Banks, Go.Compare's car spokesperson, said: "Increases in the cost of repairs and replacement parts means that insurers are experiencing an increase in their claims costs, and consequently, the cost of premiums has gone up. 

"There are a whole range of factors which will influence the cost of your car insurance, including your age, occupation, the car itself and your postcode.

"This means that the cheapest model of car to insure for you, might be completely different to other people, so you should take this into consideration if you are concerned about the cost of car insurance."

It comes after Abigayle Andre from She Talks Cars revealed how she wiped £2,000 of her premium at just the click of a button.

Meanwhile, a mechanic explained why you should never ignore a "clunking" noise in a small car.

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