Companies spend more acquiring new customers than keeping existing ones. This means they'll often offer you a better deal just to stop you leaving. Here's how to negotiate lower bills on almost anything.
The Basic Strategy
- Research: Know what competitors charge
- Call: Ask for the cancellation or retention team
- Be polite but firm: You're ready to leave
- Have alternatives ready: Name specific competitors
- Accept or walk away: Be prepared to actually leave
đź’ˇ The Magic Words
"I'd like to cancel my service" gets you transferred to the retention team—the people with power to offer discounts.
Broadband Negotiation Script
"Hi, I've been a customer for [X years] and my contract is ending. I've been looking at other providers and [Competitor] is offering [speed] for [price]. I'd like to stay with you, but I need a price that's competitive. What can you offer me?"
Insurance Negotiation Script
"Hi, I've received my renewal quote and it's significantly higher than last year. I've compared prices and found the same cover for [price] with [competitor]. I'd prefer to stay with you—can you match or beat that quote?"
Mobile Phone Negotiation Script
"My contract is ending and I'm comparing options. [Competitor] is offering [deal]. I've been happy with your service, but the price difference is significant. What can you offer to keep me?"
Track Your Savings
Use iBudget to see how much you save by negotiating bills.
Bills Worth Negotiating
- Broadband/TV: Highly competitive, lots of room
- Car insurance: Almost always negotiable at renewal
- Home insurance: Same as car insurance
- Mobile phone: Especially SIM-only deals
- Gym membership: Especially if cancelling
- Credit card interest: Ask for rate reduction
When to Negotiate
- Contract renewal time
- After receiving a price increase letter
- When you find a better deal elsewhere
- When your circumstances change
- January (companies set new budgets for retention)
Tips for Success
- Be friendly, not aggressive
- Have competitor quotes ready
- Call at quiet times (mid-week, mid-morning)
- Be willing to walk away
- If first person can't help, try again
- Document the deal in writing
About iBudget
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