DRIVERS could slash £60 from their car insurance by doing an easy five-minute task.
New research by experts at Which? has found that haggling over the phone with your insurance provider will likely leave to significant savings.
Out of 2,000 drivers it surveyed, six in 10 (58%) had contacted their insurer to discuss their policy price in the last year.
Of these, two thirds (65%) were offered a lower insurance premium.
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Some 58% of those who managed to nab a price cut said no changes were made to their policy, suggesting it was a straight discount.
Among those who accepted a new offer, those paying annually reported an average saving of £60 a year.
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Drivers paying monthly achieved an average monthly discount of £21.
The research also suggests that some insurance companies are more likely to give you a discount after ringing them up.
For example, 72% of those with Admiral got their price reduced, and the majority (57%) of those did so without making any policy changes.
Two thirds (68%) of Hastings Direct customers who discussed their policy price saw a reduction, and around six in ten of those offered a reduced price (63%) didn’t make policy changes as part of the discussion.
Which? Money editor Sam Richardson said: “Far too many of us take our car insurer’s renewal quote at face value, when we should really be looking at it as an opening offer.
“Just a quick call to your insurer when it’s time to renew could pay real dividends, with most people in our survey finding the experience of haggling straightforward.
“Insurers factor price negotiations into their premiums, so if you’re not benefiting from a discount, the unfortunate reality is that you could well be funding someone else’s.”
Car insurance prices rose for the first time since 2023 last month, according to Confused.com, with the cost of insurance now £8 (or 1%) more expensive on average than three months ago.
