Does being a loyal customer pay off? If not, save over £700 on your bills in 2018!

Did you know that new customers usually get better introductory deals? Loyalty can in many cases lead to you paying more in the long-run as many suppliers’ bank on making large profits from customers by moving them on to higher fees after their cheaper introductory period ends – Energy is an obvious example!

If Loyalty means you end up paying more, it’s time to shop around. 3 golden rules we follow are (1) shop around, (2) switch service providers’ regularly and (3) haggle!

Below are some ideas to save over £700 across major bills in 2018

Energy £300

Whilst you can’t haggle with energy companies, you can most certainly switch! Standard Variable Tariffs (SVTs) are the suppliers most expensive tariff and most of us are on them! The government recently announced a plan to cap SVTs for many homes but it’s still going to be more expensive than a cheaper fixed deal. Save £300 on average by switching from your SVT to a cheaper fixed priced tariff today.

Combined Broadband and Pay TV £200 & Standalone Broadband £100

Which? figures show that 89% of standalone and 90% of combined packaged customers who haggled on their Broadband & TV packages were offered a discount. Did you know that if you change your package to a combined package instead of standalone you can haggle even further? Have the confidence to ask for a better deal when renewing these services; most suppliers expect you to ask nowadays.

Mobile Phone £70

Always make sure you know when your contract will end and monitor your data. When your contract ends so does the introductory offers so shop around, switch or haggle. Ofcom research suggests that the typical person uses 1.3GB of data per month so it’s important to check your average usage and only pay for what you need.

Car Insurance £50 & Home Insurance £40

Longer term customers pay more for their insurance since prices are hiked after the introductory offers end. So haggle down the price of a renewal. If you’ve not claimed in the year then use this point to drive down the price. Many insurers will also want to beat a competitors quote so do a few comparisons before you renew these services.

Car Breakdown Service £40

Only 9% of people haggle down their car breakdown service, meaning 91% of us have the opportunity to do this and save money. The next time you renew, be sure to ask about getting a discount for being a loyal customer. Research what deals other car breakdown companies are offering and use as a bargaining tool.