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Some car insurance customers have received discounts of more than 200 pounds on their renovation quotes after bargaining, that is,? He found.
The consumer group said that the size of some discounts raises questions about some insurance companies that provide fair value.
any? It cost a survey of more than 2000 people across the UK with car insurance, and they asked how, at all, the cost of coverage has changed since their last renewal.
About six out of 10 (59 %) said they are holding with their insurance company, with most of them doing so on the phone.
Three fifty (61 %) got from those who contacted their insurance company with a reduction to the original price provided.
The average amount of car drivers who pay annually for each year coverage was 64 pounds – although some received much larger discounts, 5 % of these people said they managed to provide more than 200 pounds after bargaining.
In general, nearly half (49 %) of the drivers have noticed their premium rising when their last renovation, while a quarter (27 %) saw a reduction. Nearly a quarter (23 %) said he had not changed and did not know 1 %.
The poll also indicated that customers who face challenges in renewal – for example who suffer from a difficult life event, a health condition, or struggle to manage their financial resources, or lack of confidence or ability – seem to have a different experience in bargaining from those who were not.
Weakened customers were likely to discuss their premium with their insurance company, and these discussions have reduced prices at similar rates.
But these customers are also likely to have to change their policy to get the low price and were less likely to say that they found the process easy, according to whom?
She said that the consumer’s duty on financial companies determines the expectation that consumers in weak conditions must face good results such as those for other customers.
With some car drivers receiving such huge discounts after bargaining, that is,? There is believed that there are “dangerous questions” about whether the first offer from the insurance company in some cases is truly a fair value.
He also said that with the renewal of many people without discussing the price, some customers may push the possibilities.
Sam Richardson, his deputy editor -in -chief? Al -Mal said: “Although some people may be amazed at resistance with their insurance company, this research confirms how worthy of it for many consumers and is likely to be one of the most effective ways to reduce the cost of renewal.”
The survey was performed by Deltapoll in April and May.
A spokesman for the British Insurance Companies Association (ABI) said: “Our members take their commitment to their clients and organizational requirements seriously,” said a spokesman for the British Insurance Companies Association (ABI).
“They are working hard to provide reliable high-quality products that provide real value. The differences between an initial quotation via the Internet and the display of a dedicated phone to deeper diving in individual factors have changed from previous policy-such as your car security measures, driving habits, cap level, and choice of voluntary excess.
“We always recommend shopping to secure the cover that really meets your needs, not only on the basis of price.”
Whether the cover should be provided and at any price is a commercial decision for individual insurance companies based on its appetite for risks.
In 2022, the rules were implemented to end the “loyalty penalty” that insurance agents pay for a long time.
Under the rules, when current insurance customers renew their insurance policy, the price of the insurance supplier cannot be more expensive than the price they receive a new bonus client to the equivalent policy.
Here are some steps for the proposed bargaining before?:
1. If your insurance company increases the renewal price, ask him to justify the increase.
2. Then indicate the low prices you found elsewhere, and ask your insurance company if it can be better than these offers.
3. If he is not able to make a better price offer, mention you are ready to go to another place. If you are a loyal agent for many years, it may be worth noting.
4. If the insurance company is not very baking on a bonus, but you still want to stick to your provider, one of the options may be the request for addition (such as the breakdown cover).