I decided that this year I would not be so lazy and would challenge all renewal premiums that came through my letter box. I started with my Car's insurance in March and said to them that I would seek an alternative as I considered the 30% hike in mine was too much and this resulted in an immediate 15+% reduction.
Yesterday, anticipating what my Breakdown service's renewal premium might be, based on last year's, I phone the membership dept. and said I would cancel membership and apply again as I though that it would work out cheaper. I was told, that nearer the time I should phone them and I would automatically get a discount of 30%! And so I'll now await the letter and next year's cards and then phone them and get my discount.
It seems that few phone calls can save quite a sum but why should we all have to do this?
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Because, like all financial businesses particularly banks and investment groups, these companies make a fortune out of customer inertia - that's a polite way of saying people who don't bother to check how much they're being ripped off by higher renewal premiums and insulting rates of interest. I think it's the AA who offer a "special deal" to get new business, but in the small print insist on an "automatic renewal" clause by Direct Debit or whatever. If you're not careful, these people control you via your bank account. Be aware! When oh when will "financial management" lessons become part of the vital education of today's youngsters, the adults of tomorrow?
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Me too! I just had my house and contents premium put up from £145 to £175, on renewal. I rang them up and said not good enough, no claims, what goes on etc and I got renewal at £148! My position is that my phone calls are free, I am short of money but have time to spare to chase potential savings!
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This is the second year running I have got my AA renewal down to £85 (from a quote of around £150) by phoning up and threatening to go elsewhere. I have had reduced bills on car insurance and phone/broadband by doing the same.
I only wish there was more than one TV licence provider because that comes up next month :-(
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>>I have had reduced bills on car insurance and phone/broadband
I discovered this week that asking for an MAC from my broadband provider doesn't mean I have to disconnect from them. If I decide to stay with my current provider I just don't give the MAC to another.
It does mean I get put through to 'disconnections' who may have more flexibility on charges. ;>)
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If you have a load of agro on your broadband, don't bother with normal technical support, just go to disconnections and ask for your mac code, when they ask why, you tell them its not working.
You soon get in touch with someone who knows what they are doing with authority to call out Openreach if required.
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No company has a department called "Disconnections". In house they are known as "Retentions" and their job is to keep your custom by hook or by crook. They have an enormous amount of leeway over charges and plenty of clout if another department is messing you about.
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Just changed my mobile phone supplier-when I asked for the PAC,so I could keep my number,they asked why I was changing-they said we could have matched the cheaper quote-I said if you had OFFERED it,I would not have changed!
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Breakdown Service renewal premiums. - Buddy
