Is car insurance now fully a "haggling" game?

[Dippy]

My insurance is not up for renewal yet, but I had an experience today which made me think ahead so that I will be ready. During my years I have on a few occasions been offered a 2nd renewal price once I have told my insurer or broker that I have found somewhere cheaper. I all cases I have declined the offer because I had gone to the effort already and probably actually paid the new insurer.

Today I decided to cancel some water pipe insurance (the type that covers the pipe between the main and my house). I occasionally take it out if it is on offer. Then if the renewal is expensive I don't renew. That happened this year. When I called to cancel they offered a small discount which I declined. So then they offered a much bigger discount to nearly what I paid last year. I then decided to accept, but the experience felt strange to me - it is the first time that I had effectively actively negotiated an insurance premium.

Now because I have a modified car, my premium is significant. And although modified car insurance is a limited market, based on what others have written I think I might be paying above the market rate. Now I had planned, when renewal is due, to phone around and try to find the cheapest and go with it, as I have done before. However I am wondering if this time I should also prepare to then start negotiating with the providers to see if I can get it any cheaper still.

So that's my question. Whereas I remember car insurance being risk-based and so all providers would pretty much quote a similar price for a given risk, has it now changed into a "haggling" game? Are all insurers ready to "haggle" these days or just a few of them?

 

[ChrisKnottIns]

With so many different routes to market it pays to shop around if you've been given a price you consider to be high. You have the comparison sites but insurers pay heavily to feature and then the comparison site tries to entice you away from them at renewal. Then you have the likes of Directline, etc. who don't quote on the comparison sites. You also have brokers with differing deals or niche schemes available depending on their relationship with insurers. Providers are willing to negotiate (within reason and parameters) but at the end of the day it's an assessment of the risk so everyone has a quote floor they won't drop through.

As a niche broker with a trusted scheme we're backed by insurers who give us a little flexibility (as long as we can prove that we needed to use it or we'll lose it) to enable us to win club member business.

 

[desertstorm]

Simple answer is yes. I have two modified cars one with Flux one with Geenlight. Renewal comes through from Flux for the one it's £100 more than last year. Explained I have another car with Greenlight and they seem very competitive, the guy at Flux says he will discuss it with the broker. Two minutes later comes back with a quote £50 cheaper than last year, So my 5 minute call saved me £150.
I always ring up insurers on all policies contents, buildings , AA breakdown etc. Never fail to get a discount off the renewal price.

 

[Lavis89]

Got to think about fees as well if you're going to be modifying. Greenlight haven't charged me any admin fees etc for changing address, and adding a lot of mods on to the car during the past 6 months or so. They were not the cheapest (£20 more expensive than flux when I was shopping around) but I've probably saved £100-150 in admin fees

 

[wolfie138]

last time i tried calling an insurer, few years back, i'd got a quote for [say] £200 + £15 legal cover. i did a bit compare the market type stuff and found a similar, good company, for £200 and legal cover included. i called my current people ll you match? got a flat-out "no" so i told them to go have sex, they'd lost £200 for the sake of being cheap-ar$es.

 

[Dippy]

With so many different routes to market it pays to shop around if you've been given a price you consider to be high. You have the comparison sites but insurers pay heavily to feature and then the comparison site tries to entice you away from them at renewal. Then you have the likes of Directline, etc. who don't quote on the comparison sites. You also have brokers with differing deals or niche schemes available depending on their relationship with insurers. Providers are willing to negotiate (within reason and parameters) but at the end of the day it's an assessment of the risk so everyone has a quote floor they won't drop through.

As a niche broker with a trusted scheme we're backed by insurers who give us a little flexibility (as long as we can prove that we needed to use it or we'll lose it) to enable us to win club member business.

So are you now competitive again for modified cars? You haven't been for me for many years now I have given up calling you.

Simple answer is yes. I have two modified cars one with Flux one with Geenlight. Renewal comes through from Flux for the one it's £100 more than last year. Explained I have another car with Greenlight and they seem very competitive, the guy at Flux says he will discuss it with the broker. Two minutes later comes back with a quote £50 cheaper than last year, So my 5 minute call saved me £150.
I always ring up insurers on all policies contents, buildings , AA breakdown etc. Never fail to get a discount off the renewal price.

Thanks, that's convinced me. I need to stop thinking about insurers as people in offices calculating premiums based on data and more as stall-holders in a market listening to what their competitors are charging.