Never go with your renewal price.
I’ve said it hundreds of times, this will not be your best price.
You might think that staying with your current insurance company is the best idea, maybe you think it will save you time by just letting the auto renewal happen. It might save you time, but it’s so easy to find your cheapest deal!
The first thing we need to install into your brains is that new customers always get the best deals. The best deals are there for a reason, to entice people to the company, to spend the money with a new company and then the company hopes they stay.
Just like TV, broadband, mobile contracts, utilities, the new customer gets the best deal.
Do a quick comparison on compare the market (other comparison sites are available!) and find your cheapest deals. The cheapest one might not be the best option as they don’t always include everything you want or have a large excess than you were wanting.
Find the quotes you would be happy with and then type the names of the companies into the cashback site you use. Some of these companies offer a huge chunk of cashback if you take out insurance with them, even more for a combined buildings/contents policy.
Note – you won’t be able to just click through the comparison site, you’ll have to open a new window by clicking through Quidco (other cashback companies available!) and input all your details once again. Sometimes I’ve experienced the price be slightly different other times it’s been exactly the same. The cashback you’re getting should be good enough to cover a couple of pounds here or there.
Our home insurance was recently up for renewal. The auto-renewal price was £15 more than last year’s price at £157. My comparison brought up a quote for £97 for pretty much the same level of cover – even though the chap on the phone when I called up to called the renewal said it wouldn’t be and offered me a £140 deal instead – amazing how they can do that isn’t it!
The company who had the £97 quote were offering £50 cashback on Quidco for a combined buildings/contents policy. So we got home insurance for a year for £47!
So for an hours work, I saved over £100 on my renewal price.
Spend a bit of time shopping around for your home insurance and you could save a lot of cash!
Note – last year my cashback failed to track properly and I didn’t get the cashback paid. That’s a risk you take and whilst you can submit a claim, they don’t always pay out!