Why don't drivers negotiate on their insurance premiums?
I recently received my renewal notice for a 2002 Rover 75 at £393.97 for two named drivers (my wife and I), both retired. After a phone call, to the company, we agreed that by reducing the annual mileage, and agreeing that being retired, we did not require cover for "Social use and commuting to work", I was offered a reduction to £326.19. The renewal letter had also offered "If you receive a lower quote for the same level of cover, we'll beat it".
On a well advertised website I found a company offering £226.00, using the same details shown on my current policy, so I phoned my current insurers again, to be told by the lady in the office that she was authorised to offer me up to £100 off my above "cheaper" offer to retain my custom (which I am considering accepting), saving me £177.78. I would recommend your readers take up the challenge. How many people just accept and pay up?
On a well advertised website I found a company offering £226.00, using the same details shown on my current policy, so I phoned my current insurers again, to be told by the lady in the office that she was authorised to offer me up to £100 off my above "cheaper" offer to retain my custom (which I am considering accepting), saving me £177.78. I would recommend your readers take up the challenge. How many people just accept and pay up?
Asked on 15 September 2011 by EQ, via email
Answered by
Honest John
You are absolutely right. Well done. Unfortunately the more that policyholders do this, the less the reductions will be because there will be less in the overall pot.
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