Negotiating a reduced renewal premium

See our earlier NEWS items on motor insurance renewals by checking out the links on the insurance renewals gateway webpage. Gateway

Posted: 171228
Following our earlier NEWS items on high motor insurance renewal premiums, a fellow member has been in touch saying "shortly after seeing the news item on insurance renewals on the V8 Website, I had the renewal for the RV8 arrive today showing an increase from £198 to £233 for next year. That's an increase of £35 or 17.7% year on year.

I made a s
imple quick phone call to PBIS and the opening question from me was "How can you help reduce this increase in premium please?" which was met very positively because having agreed an increase in the voluntary excess I pay by £50 to £250, the resulting revised premium was . . . wait for it . . . £199.54 so well worth the phone call!

I think the answer is that by agreeing a larger voluntary excess the insured is taking away risk from the insurer and so the premium should be less. Quite simple. I don't expect it will apply in all cases to all people but I firmly believe it is a case of asking the right question in the right way to get a positive response."