Bargaining isn’t for everyone, but now’s a good time to put your skills to the test as household bills continue to mount.
While it doesn’t always pay off, there are a few steps you can take to prepare ahead of time that can increase your success rate.
Ceri McMillan, director of insurance at comparison website Go.Compare, says a good place to start is to read your existing contract.
You’ll then have a clear idea of how your current deal compares when you check out the other deals available.
McMillan believes that based on its experience, broadband, mobile phone contracts and TV subscriptions are good products to try your hand at bartering.
He says, “You may find that you’re paying more right now, especially if you’ve been with the same company or provider for a while.
“The deal you paid for three years ago may not be relevant today and may not meet your requirements. For example, did you uninstall a premium streaming service that you no longer use?”
Even if you want to work with your provider, McMillan says it can be beneficial to shop around for a better deal with your company “because you’ll be armed with the knowledge of what you can get elsewhere.”
He continues, “After you’ve researched the market, it’s a good idea to call a few different companies to see if there’s any wiggle room in the price you’ve been seeing.
“A good example of this is don’t be afraid to negotiate on a cell phone, price, minutes, data, or any other part of the deal.”
Then, once you have all the information in hand, McMillan recommends calling your current provider and, if possible, speaking to customer retention to let them know you’re planning to end your contract. .
“This ensures you’re talking to the right people to get you a good deal,” McMillan says.
“If you already know you can get a better deal elsewhere, tell your outgoing supplier that you’re ready to leave, but want to know what they can offer you.
“Some companies offer to match quotes and offers from other providers, so don’t be afraid to show you’ve done your research.”
And when it comes to car insurance, timing can be the key to getting a good deal.
McMillan explains: “Go.Compare research found that the closer you get to your renewal date, the more you could be paying, even if you’re switching.
“The sooner you buy, the better, as our customers save an average of more than 55% by buying their car insurance 27 days before their renewal date, compared to those renewing on the same day.”