More than half of Moneywise.co.uk users (51%) say they challenge their insurer to beat the best quote they’ve found when renewing their car insurance.
Our poll of 728 users, found that a further 35% ditch their existing policy at renewal to find a new one elsewhere, while 7% charm their car insurer into offering a better deal.
- Use our Car insurance comparison tool to get the best deal on your motor.
However, it’s concerning that 4% of users may be paying too much for their car insurance because they either accept the new quote, no questions asked, or let the policy renew automatically.
If you have car insurance, you may well have fallen foul of insurers automatically renewing your annual policy and locking you into a pricier deal. But as the results of our latest poll reveal, you don’t have to take it lying down.
If you don’t want to auto-renew, you should:
- Let your insurer know you won’t be renewing your annual cover soon after you buy your current policy.
- Check your insurance policy for the phone number or email address to opt out of auto renewal.
- Keep a record of any correspondence on auto-renewing.
- Even if the auto-renew premium you are given seems good, it is still worth using a price comparison site to see what the competition will offer, and then checking the providers these miss, such as Direct Line and Aviva.
- If your circumstances have changed, meaning comparison sites won’t provide quotes for you, contact the British Insurance Brokers’ Association on 0370 950 1790.
When you take out a new policy, you should also always diarise to check prices a few weeks before the renewal date so that you can see if there are cheaper deals elsewhere. This is important given 2% of those who voted said they let their policy auto-renew as they forget when it ends.
- Are you stuck in a car insurance loophole? See our tips on how to avoid autorenewing.
See the full poll results below (click to enlarge), which ran from 26 July to 2 August 2016 on Moneywise.co.uk.