Car insurance loyalty rewards: Should I stay or should I go?

Insurance companies offer a car insurance loyalty discount to policyholders who stay with the same insurer for an extended period. The loyalty discount benefits long-term customers for their continued business and encourages them to remain with the company instead of switching to another insurer. How it works … See more

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How To Get A Loyalty Discount On Your Car Insurance

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Nov 27, 2023 · Depending on your insurer, you can save up to 20% on your annual or semi-annual car insurance premium. But again, this all depends on your car insurance provider. In …

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FAQs about Car insurance loyalty rewards: Should I stay or should I go? Coupon?

What is a car insurance loyalty discount?

A car insurance loyalty discount rewards customers for sticking with the same car insurance company. You may earn a loyalty discount for bundling multiple types of coverage through the same company, or renewing your policy each year instead of moving to a new insurance provider. The different types of car insurance loyalty discounts include: 1. ...

Can you earn a loyalty discount while renewing a car insurance policy?

In terms of Car Insurance, onecan earn a loyalty discount while renewing the policy without switching to a new insurance company for a certain number of years. Meaning, you are awarded a special loyalty discount when you renew your car insurance policy from the same insurance company consecutively for a particular number of years. ...

Should you stay with a car insurance company if you get a discount?

“A loyalty discount for staying with your insurance company is nice, but it is just a discount — you shouldn’t stay with a car insurance company just because of it. If you’ve received bad customer service or believe you’re paying too much, go out there and shop for a new provider. ...

Do insurance companies use customer loyalty as a rating factor?

Ohio and Maryland do not allow insurance companies to use customer loyalty as a rating factor. Some insurance companies simply don’t offer loyalty discounts if they don’t see the merit in them. You shouldn’t look for (or stay with) an insurer simply because they offer a loyalty discount — or any discount, for that matter. ...

How does a loyalty discount work?

To earn a loyalty discount, you must make the specified number of car insurance renewals from the same insurance company. Provided your insurer offers a loyalty discount, you can apply this discount while making payments for car insurance renewal. Here is how loyalty discounts work: ...

Can a customer loyalty discount save you money?

Customer loyalty discounts can come in the form of money off your annual car insurance rates or access to extra perks. You could potentially save up to 20% or more with a customer loyalty discount, but remaining loyal to a car insurance company can also cost you money in the long run. ...