Can I negotiate a better deal with my current insurer rather than switching?<\/h3><\/div>![\"Danny](\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2020\/07\/Danny-Butler.jpg\")
<\/p>
Finder insurance expert Danny Butler<\/a> answers <\/em><\/div><\/div>If you\u2019re considering switching but haven\u2019t made the decision yet, let your current insurance company compete for your business.<\/p>
Simply letting your insurer know thinking of switching and asking for a better deal might get you one. But you might have a higher chance of success \u2013 and of a bigger discount \u2013if you\u2019ve done your research into what competitors offer first. Here\u2019s how to prepare for the discussion with your existing insurer.<\/p>
- Check your current coverage levels.<\/strong> What other perks do you get, such as no claims bonus protection or breakdown cover<\/a>? You\u2019ll need this information so you can get like-for-like quotes.<\/li>
- Decide on any changes you might want to make. <\/strong>You might be prepared to ditch an optional extra in order to reduce premiums, for example.<\/li>
- Get quotes from competitors.<\/strong> Check comparison sites and direct-only insurers to see if you can get equivalent cover for a better price.<\/li>
- Call your current provider.<\/strong> You can try contact forms and online chat, but it might be more effective to negotiate verbally if you can. Go armed with competitor quotes, remind your insurer how you\u2019ve been a loyal customer, and ask if there\u2019s any way to match the competitor quotes you found. Or, if they can\u2019t bring down their premium as low as you\u2019d like, ask if they can throw in any optional extras you\u2019re interested in.<\/li>
- Be prepared to call their bluff.<\/strong> If you don\u2019t get anywhere with the first person you speak to, you could try asking to speak to the cancellations team. It shouldn\u2019t work this way, but sometimes insurers are more willing to negotiate if they think they\u2019re in imminent danger of losing your custom.<\/li><\/ul>
If your current insurer won\u2019t offer you a better deal or match a quote you\u2019ve found, then it might be time to ditch them.<\/p><\/div><\/div><\/div><\/article>
Can I switch car insurance part way through a policy term?<\/h3>
You can. But if you\u2019re doing so purely to save money, make sure you take into account the costs involved in cancelling early.<\/p>
You should get a pro-rata refund of premiums, less any days you\u2019ve held the policy for. But cancelling an insurance policy mid-policy will almost certainly incur a cancellation fee. If you cancel within the initial 14-day cooling off period this is likely to be lower (probably no more than \u00a325), and some insurers waive it entirely. But cancelling after this could set you back upwards of \u00a350.<\/p>
If you find a great deal that has all the features you need and will save you far more than the cancellation fee, then you might decide it\u2019s worth sucking up these charges.<\/p>
And, of course, some circumstances may force you to change insurers before your current policy expires. For example, a change in circumstances might mean that your current provider is no longer able to offer you cover \u2013 if you move or change car, and they don\u2019t insure drivers in certain locations, or with certain models of car, for example. If you\u2019re forced to switch insurer because your current provider can no longer cover you, ask it to waive the cancellation fee.<\/p>
It\u2019s also worth bearing in mind that if you switch part-way through a policy term, you will lose any no-claims bonus you\u2019ve been building up since you took out the policy. That\u2019s because no-claims bonuses don\u2019t operate in fractions of years. You need to have accrued a full policy term of claim-free driving to benefit from another year\u2019s worth of discount.<\/p>
Steps to changing car insurance mid-policy<\/h4>
If you\u2019re switching car insurance before your policy is over, follow these steps:<\/p>
- Contact your current insurance provider<\/strong> or go through your policy details to find out what\u2019s involved in cancelling your insurance mid-policy. You need to know how to cancel, when the cancellation takes effect, what the associated fees and costs are and whether you will get any refunds.<\/li>
- Decide on your new policy.<\/strong> You should have a replacement policy that you\u2019re happy with ready to go before cancelling your old one. Compare the savings or additional benefits of the new policy with the cancellation fees of the old one to make sure it\u2019s worthwhile. Refunds usually take time, so don\u2019t plan on paying for the new policy with a refund from your old one.<\/li>
- Sign up for the new policy<\/strong> and then cancel the old one. If possible, try to have your new policy take effect as soon as the old one ends, without any gaps between.<\/li><\/ol>
Pros and cons of switching car insurance<\/h3>\n \n Pros<\/h4>\n \n - Could save you hundreds of pounds on your renewal quote<\/li>\n
- May get you better customer service or more features<\/li>\n
- It's usually free to switch, as long as you make the change at the point of renewal.<\/li>\n <\/ul>\n <\/div>\n \n \n
Cons<\/h4>\n \n - If your premiums are fairly low to start with, you might not think the savings are enough to justify the effort<\/li>\n
- Your current insurer may be willing to price-match the best deal you've found<\/li>\n
- If you switch part way through your policy term, you're likely to incur cancellation charges.<\/li>\n <\/ul>\n <\/div>\n <\/div>\n
Bottom line<\/h3>
It never hurts to shop around to see if there\u2019s a better deal to be had. You could save a lot of money, whether that\u2019s through going through with the move, or simply using your research as ammo for a firm conversation with your current insurer. If you do decide to switch, use our guide to the best car insurance companies<\/a> to help you choose a provider that will deliver on quality as well as price.<\/p>Frequently asked questions<\/h3>- \n \n
\n
<\/p>
If you\u2019re considering switching but haven\u2019t made the decision yet, let your current insurance company compete for your business.<\/p>
Simply letting your insurer know thinking of switching and asking for a better deal might get you one. But you might have a higher chance of success \u2013 and of a bigger discount \u2013if you\u2019ve done your research into what competitors offer first. Here\u2019s how to prepare for the discussion with your existing insurer.<\/p>
- Check your current coverage levels.<\/strong> What other perks do you get, such as no claims bonus protection or breakdown cover<\/a>? You\u2019ll need this information so you can get like-for-like quotes.<\/li>
- Decide on any changes you might want to make. <\/strong>You might be prepared to ditch an optional extra in order to reduce premiums, for example.<\/li>
- Get quotes from competitors.<\/strong> Check comparison sites and direct-only insurers to see if you can get equivalent cover for a better price.<\/li>
- Call your current provider.<\/strong> You can try contact forms and online chat, but it might be more effective to negotiate verbally if you can. Go armed with competitor quotes, remind your insurer how you\u2019ve been a loyal customer, and ask if there\u2019s any way to match the competitor quotes you found. Or, if they can\u2019t bring down their premium as low as you\u2019d like, ask if they can throw in any optional extras you\u2019re interested in.<\/li>
- Be prepared to call their bluff.<\/strong> If you don\u2019t get anywhere with the first person you speak to, you could try asking to speak to the cancellations team. It shouldn\u2019t work this way, but sometimes insurers are more willing to negotiate if they think they\u2019re in imminent danger of losing your custom.<\/li><\/ul>
If your current insurer won\u2019t offer you a better deal or match a quote you\u2019ve found, then it might be time to ditch them.<\/p><\/div><\/div><\/div><\/article>
Can I switch car insurance part way through a policy term?<\/h3>
You can. But if you\u2019re doing so purely to save money, make sure you take into account the costs involved in cancelling early.<\/p>
You should get a pro-rata refund of premiums, less any days you\u2019ve held the policy for. But cancelling an insurance policy mid-policy will almost certainly incur a cancellation fee. If you cancel within the initial 14-day cooling off period this is likely to be lower (probably no more than \u00a325), and some insurers waive it entirely. But cancelling after this could set you back upwards of \u00a350.<\/p>
If you find a great deal that has all the features you need and will save you far more than the cancellation fee, then you might decide it\u2019s worth sucking up these charges.<\/p>
And, of course, some circumstances may force you to change insurers before your current policy expires. For example, a change in circumstances might mean that your current provider is no longer able to offer you cover \u2013 if you move or change car, and they don\u2019t insure drivers in certain locations, or with certain models of car, for example. If you\u2019re forced to switch insurer because your current provider can no longer cover you, ask it to waive the cancellation fee.<\/p>
It\u2019s also worth bearing in mind that if you switch part-way through a policy term, you will lose any no-claims bonus you\u2019ve been building up since you took out the policy. That\u2019s because no-claims bonuses don\u2019t operate in fractions of years. You need to have accrued a full policy term of claim-free driving to benefit from another year\u2019s worth of discount.<\/p>
Steps to changing car insurance mid-policy<\/h4>
If you\u2019re switching car insurance before your policy is over, follow these steps:<\/p>
- Contact your current insurance provider<\/strong> or go through your policy details to find out what\u2019s involved in cancelling your insurance mid-policy. You need to know how to cancel, when the cancellation takes effect, what the associated fees and costs are and whether you will get any refunds.<\/li>
- Decide on your new policy.<\/strong> You should have a replacement policy that you\u2019re happy with ready to go before cancelling your old one. Compare the savings or additional benefits of the new policy with the cancellation fees of the old one to make sure it\u2019s worthwhile. Refunds usually take time, so don\u2019t plan on paying for the new policy with a refund from your old one.<\/li>
- Sign up for the new policy<\/strong> and then cancel the old one. If possible, try to have your new policy take effect as soon as the old one ends, without any gaps between.<\/li><\/ol>
Pros and cons of switching car insurance<\/h3>
\n\nPros<\/h4>\n
- \n
- Could save you hundreds of pounds on your renewal quote<\/li>\n
- May get you better customer service or more features<\/li>\n
- It's usually free to switch, as long as you make the change at the point of renewal.<\/li>\n <\/ul>\n <\/div>\n \n \n
Cons<\/h4>\n
- \n
- If your premiums are fairly low to start with, you might not think the savings are enough to justify the effort<\/li>\n
- Your current insurer may be willing to price-match the best deal you've found<\/li>\n
- If you switch part way through your policy term, you're likely to incur cancellation charges.<\/li>\n <\/ul>\n <\/div>\n <\/div>\n
Bottom line<\/h3>
It never hurts to shop around to see if there\u2019s a better deal to be had. You could save a lot of money, whether that\u2019s through going through with the move, or simply using your research as ammo for a firm conversation with your current insurer. If you do decide to switch, use our guide to the best car insurance companies<\/a> to help you choose a provider that will deliver on quality as well as price.<\/p>
Frequently asked questions<\/h3>
- \n \n
\n
- \n
- Decide on your new policy.<\/strong> You should have a replacement policy that you\u2019re happy with ready to go before cancelling your old one. Compare the savings or additional benefits of the new policy with the cancellation fees of the old one to make sure it\u2019s worthwhile. Refunds usually take time, so don\u2019t plan on paying for the new policy with a refund from your old one.<\/li>
- Decide on any changes you might want to make. <\/strong>You might be prepared to ditch an optional extra in order to reduce premiums, for example.<\/li>