If your car insurance for your Volkswagen turbo is up for renewal, you might be well placed to try and haggle so you can sort yourself out a sweeter deal.
According to Consumer Intelligence, 54 per cent of motorists were able to arrange a price cut for themselves after questioning their renewal quote. Despite this, however, it was found that only 38 per cent of drivers actually call their insurers to query their quotes, so there are many on the roads who are missing out on potential savings of up to a tenth.
“Insurers are generally receptive to renewal premiums being queried and will offer reductions to try and keep customers and the savings can be substantial at more than ten per cent. The benefits of switching are not always obvious as generally customers prefer to stay loyal and indeed our research shows that it would make more sense for insurers to offer their best price straight away rather than haggling,” chief executive of Consumer Intelligence Ian Hughes said.
This comes after previous Consumer Intelligence research showed that thousands of people believe that their car insurance policies are hard to understand and lack transparency. Complaints relate to a failure to explain how the policy works and what people are actually covered for, with nearly a quarter of those asked saying they want to be able to manage their policies and make claims over the internet.
Demand was also apparent for insurers to offer call centres based in the UK, with one in ten motorists backing this idea.