Loyalty does not pay for customers says Which?

CUSTOMERS who stay loyal to the same providers of services like energy, telecoms and insurance risk losing out on hundreds of pounds-worth of savings per year, according to research from Which?

The consumer group made the calculations based on the average savings of people who had haggled in the past 12 months over a range of services and by comparing energy prices.

Its survey of more than 2,000 people also found that, while there are huge savings to be made, some people are reluctant to push for a better deal.

Two-fifths (42 per cent) of people had not haggled with any service provider Which? asked about in the last 12 months, with people found to be least likely to request a discount on their mobile phone contract, broadband or car breakdown cover.

But nine in 10 (86 per cent) broadband and pay TV customers who asked for a better deal were offered a discount or incentive.

Those on a standalone broadband package saved an average of £120 a year, while those with combined broadband and pay TV services saved £216 annually.

Three-quarters (77 per cent) of mobile phone users who haggled secured a better deal - and an average saving of £72 a year. People who pushed for a better deal on home, car and car breakdown insurance policies made a total average saving of £125 in a year.