How haggling on car insurance lands you £200 off your renewal quote
Drivers received £ 200 discount on car insurance renewal offers after bargaining, which one? found it.
The consumer group said that the size of some price discounts on the agenda of whether insurance companies are involved in real value.
Six of ten drivers (59 percent) said that they negotiated with insurers and that they did it on most phones. And 61 percent of those who communicate with insurance companies received a discount on the original price.
The average amount saved annually was £ 64 – 5 percent says they can save more than 200 £ after bargaining.
In general, the survey of 2,000 drivers in April and May found that 49 percent of the premiums increased in the last renovation and 27 percent saw a decrease.
Drivers received £ 200 discount on car insurance renewal offers after bargaining, which one? Found
The study also showed that customers who face difficulties in renewal – health conditions, financial problems or lack of confidence or ability – have to change their policies to obtain a lower price.
Which? He said that the first proposal from an insurance company always represented the fair value and led to some customers to pay rates.
Sam Richardson, which is the assistant editor? Money, bargaining ‘is one of the most effective ways to reduce the cost of renewal’ he said.
Trade Group British Insurers Association, members ‘commitment to customers and regulatory requirements seriously insisted on taking serious’.
Six of ten drivers (59%) said they negotiated with insurers and most of them do it by phone.
A spokesman said: ‘Variations between the first online excerpt and a custom -made telephone offer often make a deeper dive to individual factors that may have changed from the previous policy – your vehicle’s safety measures, driving habits, cover level and volunteer selection.
‘Whether there is a commercial decision for individual insurance companies according to risk appetite and at what price is a commercial decision.’
In 2022, rules were introduced to end what is known as the ‘loyalty penalty’, and the renewal price for existing home and car insurance customers would not be higher than that of new customers for equivalent policy.
Which? He acknowledges that many people find ‘eye scary’ of bargaining, but he advises customers to justify any price increase in renewal premiums from their insurers, emphasize cheaper opportunities found elsewhere and ask if they are willing to match them.
