WRONG FORUM, PLEASE DELETE: Insurance Renewal Haggling 13 September 2022 at 11:23AM edited 13 September 2022 at 11:36AM in Insurance & life assurance 5 replies 82 views

LessThanSte

Been looking at my wife's renewal quote (with Churchill). I was amazed, almost to the point of falling off my chair, that the renewal quote appears to have come in barely £2 more than the cheapest equivalent quote available on the comparison sites. Happy days. Perhaps the requirement to offer the same price as a new customer can get has forced the industry to behave better? Either that or I've missed an important nugget of information somewhere on the website that'll shaft me later.

Anyway, as with all insurance renewals for time immemorial its usually been possible to haggle an additional discount - to keep costs low and all that. I remember last year ringing up to haggle with my own car insurance and having a battle (the success of which I've forgotten). They used the 'we have to offer the best price to all customers' excuse as a reason not to offer one. 

So, with that in mind, has anyone had any success haggling to reduce the renewal premium when said premium is the same as a new customer would receive and is comparable with the best rates offered by the rest of the market? If so, any specific tips?

LessThanSte

Oops - put this in wrong forum. Admins - please delete!!!!

dunstonh

It's in the right forum. 

So, with that in mind, has anyone had any success haggling to reduce the renewal premium when said premium is the same as a new customer would receive and is comparable with the best rates offered by the rest of the market? If so, any specific tips?

So, what you are asking is if they can break the rules?

ironic really as your post acknowledges the industry behaving better but you then go on to ask what you need to do for it to misbehave.

DullGreyGuy

They wont know what anyone else is offering you... you can always say that you've had better quotes (true) and just decline to say what they are. Admiral always were open to big negotiations before the new rules and went this route every year with them. Not to say Churchill will budge, its much more likely these days that the price is what it is but if you dont mind using your time up to speak to them there is little other harm. 

400ixl

You are seeing the results of the new legislation, but not how you are viewing it. Your renewal hasn't dropped to the lowest offers your would have got,it has moved towards it but those new policy rates have risen to even out with the renewals.

Basically those who haggled are losing out, with those who didn't gaining slightly.

You can still try haggling, nothing stopping you from calling them and asking for their best offer.

Grumpy_chap

If the renewal is within £2 of the cheapest quote, how much lower are you realistically seeking to get?
Is it worth the effort and hassle for a small sum?