Haggling insurance qoutes?
Discussion
i have to renew insurance in a couple of days.
im currently with a supermarket that is trying to take over the world. and have been the last 2 years. but they have recently put my renewal price up by over £150.
so ive looked else where and found that a certain animal which we shall call Dumbo. which are cheaper than my current insurance (pre renewal) by about £50.
im more than happy to swap insurance, but my question is how do people go about haggling insurance, say should i phone up this supermarket and tell them im not happy and threathen them with "im leaving unless you can match or beat the price" and would it be worthwhile phoning Dumbo and seeing if i can get them down even further?
how do i haggle? half the time i cant understand the foreign women on the other end of the phone, imagine how hard its going to be haggling with them. should i just go in with my size 10's on? how do i "bid them hard"?
im currently with a supermarket that is trying to take over the world. and have been the last 2 years. but they have recently put my renewal price up by over £150.
so ive looked else where and found that a certain animal which we shall call Dumbo. which are cheaper than my current insurance (pre renewal) by about £50.
im more than happy to swap insurance, but my question is how do people go about haggling insurance, say should i phone up this supermarket and tell them im not happy and threathen them with "im leaving unless you can match or beat the price" and would it be worthwhile phoning Dumbo and seeing if i can get them down even further?
how do i haggle? half the time i cant understand the foreign women on the other end of the phone, imagine how hard its going to be haggling with them. should i just go in with my size 10's on? how do i "bid them hard"?
The last renewal I received I called them and said that by looking around it looked like I could get a better quote, but if they made my monthly payments (I pay monthly- I know, frowned upon by PH) £50 instead of £60 (for example) then I would agree it there and then. They did, so I stayed with them.
I negotiate on the monthly payments, not the annual lump. But either way I saved myself over 10% by going down that route.
I negotiate on the monthly payments, not the annual lump. But either way I saved myself over 10% by going down that route.
I never accept a second haggled quote from my current insurer. If they were able to match what I can get elsewhere - then that's what they should have done in the first place.
When haggling for any large purchase, I always make it clear to the salesperson that they get one chance to quote, that they should quote their best price, that I will be shopping around for best quotes and that I will buy before 5pm from the most competitive bidder.
Have you tried going on line with your current supplier and getting a quote as a new customer? It sort of breaks rule 1, but the best rates are always reserved for new customers.
When haggling for any large purchase, I always make it clear to the salesperson that they get one chance to quote, that they should quote their best price, that I will be shopping around for best quotes and that I will buy before 5pm from the most competitive bidder.
Have you tried going on line with your current supplier and getting a quote as a new customer? It sort of breaks rule 1, but the best rates are always reserved for new customers.
syko89 said:
From my experience over the last couple of years, all ive heard from my previous insurer's is 'I'm sorry we cant be competative.'
So ive always just changed policy, there doesnt seem to be any companies bothered about retaining their customers.
Ditto.So ive always just changed policy, there doesnt seem to be any companies bothered about retaining their customers.
I've had the odd situation where a new quote is cheaper than my renewal, used to be you could ring up and complain and they'd match the new quote, more recently I've had to take up a "new" policy to get the better price despite the fact I'm already an existing customer.
I'm sure insiders will know more but from what I see the industry is geared around getting you in, then increasing premiums on renewal and relying on customers laziness in not changing.
When my 72 yr old Mum's SD&P policy for a £500 Golf for 6,000 miles was more expensive than my business use policy, 12K miles (now a lot lower though) on a 328 I suggested she perhaps might shop around a bit, she halved her premium.
mikeveal said:
Have you tried going on line with your current supplier and getting a quote as a new customer? It sort of breaks rule 1, but the best rates are always reserved for new customers.
ironically if i try now, they say "they are unable to qoute me at this time, please phone and speak to our useless call centre staff who will put you on hold untill you are tediously bored and give up and agree on your renewal price in trade for your sanity, thank you"ecommsmith said:
Dumbo was kind enough to drop my insurance by over £200 just by phoning up and asking if that was the best price they could do me, I'm sure they'd do something for a new customer.
What you actually mean is that Dumbo had slowly been ramping up your policy until you were paying £200 over the odds. You asked them nicely to reset your premium, they agreed that this year they'd give you a discount. You rewarded the fact that they clearly tried to mug you by staying with them for another year.Oh well, I guess it takes all sorts to make the world.
ETA - you didn't actually say that you renewed with them - if that's not the case: good for you.
Dangle the commission carrot in front of them and they'll soon do what they can in order to make a sale.
I'd love to say "Both you and I will do well out of this, you get commission out of me and I get a better price out of you", will try this line on October when the renewal is up and see how it goes down, lead balloon springs to mind.
I'd love to say "Both you and I will do well out of this, you get commission out of me and I get a better price out of you", will try this line on October when the renewal is up and see how it goes down, lead balloon springs to mind.
mikeveal said:
What you actually mean is that Dumbo had slowly been ramping up your policy until you were paying £200 over the odds. You asked them nicely to reset your premium, they agreed that this year they'd give you a discount. You rewarded the fact that they clearly tried to mug you by staying with them for another year.
Oh well, I guess it takes all sorts to make the world.
ETA - you didn't actually say that you renewed with them - if that's not the case: good for you.
It was my first renewal. First policy was £1300 fully comp, renewal was £847 and I ended up paying £640. Second cheapest policy I could find was £900 so I'm classing that as a win for me.Oh well, I guess it takes all sorts to make the world.
ETA - you didn't actually say that you renewed with them - if that's not the case: good for you.
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