For many of us, negotiating anything is not within our zone of comfort but it is almost industry standard for insurance companies to receive a call from a policy holder looking for a cheaper and more competitive price.

Many insurers will beat their own renewal price following a bit of negotiation with you as they will want to keep you. This is because there is so much competition and it is so easy to switch providers.

Once you have a comparative premium or two, call and ask:

•  Is this your best price?
•  Mention you have cheaper quotes elsewhere
•  Consider organising multi policy discounts with the same insurer to save more money if possible

Remember that the worst they can do is say no!