Car Insurance Customers Save £200+ by Haggling on Renewals

Car insurance customers across the UK are able to save significant amounts on their renewal quotes by haggling with their insurers. In a recent survey, over 2,000 people reported that they haggled with their insurer, with 61% of those who contacted their insurer receiving a reduction to the original price offered. The average annual savings per motorist was £64, but some customers were able to secure bigger reductions, with 5% saving more than £200.

Key Takeaways:

• 59% of car insurance customers in the UK haggle with their insurer when renewing their policy.
• 61% of those who contacted their insurer received a reduction to the original price offered.
• The average annual savings per motorist was £64.
• 5% of customers saved more than £200 on their renewal quote.
• Nearly half (49%) of drivers reported that their premium increased at their last renewal, while a quarter (27%) saw a reduction.
• Sam Richardson, deputy editor of Which? Money, recommends haggling with insurers as a effective way to cut costs.
• The Association of British Insurers (ABI) spokesperson stated that their members take their commitment to customers and regulatory requirements seriously.

Statistics:

• 2,000 people were surveyed by Which? about their car insurance renewal experiences.
• 59% of respondents haggled with their insurer when renewing their policy.
• 61% of those who contacted their insurer received a reduction to the original price offered.
• £64 was the average annual savings per motorist.
• 5% of customers saved more than £200 on their renewal quote.
• 49% of drivers reported that their premium increased at their last renewal.
• 27% of drivers saw a reduction in their premium.
• 23% of drivers reported that their premium had not changed.
• 1% of drivers did not know what had happened to their premium.

Sources:

• Which? - Car insurance customers save big by haggling on renewals
• Deltapoll - Survey conducted in April and May