It seems that everything revolves around the cost-of-living crisis at the moment, but that’s the world we’re living in! It’s no secret that bills are rising, so let’s jump right in and talk about how to become an expert negotiator!

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Let’s take car insurance as an example. According to Confused.com, this year has seen an average increase of 55% in car insurance premiums. That means if you were paying around £400 last year, this year could look like a much higher £620. We’re used to our insurance quotes varying, but this is more than many people have seen in a long time. So, let’s look at how you can get those prices down.

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Step 1 - Look at your policy 

Your circumstances may have changed in the last year, or maybe you’ve been renewing your policy without really looking at the details. Has your mileage changed? Do you have European cover that you don’t need? Try to get rid of anything that is no longer necessary. 

Have you considered a telematics policy? If a black box can lower your costs, then it’s definitely something to think about, especially if you’re a younger driver. You can be rewarded for driving safely. 

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Can you afford to pay annually rather than monthly? Although it may seem like a large lump sum, this can make more financial sense and save you money in the long run.

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Step 2 - Shop around

As soon as your renewal information arrives in your inbox, get online. You usually get this info around a month before your policy renews, and this is the best time to get a cheaper quote. The closer you leave it to the deadline, the higher the prices will rise. 

If you use a comparison site, try to be as accurate as possible with the information you put in. Take the time to find the information you need, as details like your job description can affect your premium more than you think. 

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Step 3 - Time to call

If you’re a millennial or Gen Z, talking to someone on the phone may not be a dream come true (trust me, I know), but it’s the best way to get that price down. Once you’ve gathered all your facts, write down some notes, questions, and any lower prices from other providers so you’re completely prepared. 

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Then it’s time to call - let them know that you’ve found lower prices elsewhere and you’d like them to match that or go even lower. You can also try a combination of things with them, like adding extra drivers and comparing the prices of different policies. 

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Ensure you review the final details so you don’t agree to pay for something you don’t want. Remember, you can always ask them to save the quote to your account and call back later if you need to do a bit more research.