Customer Loyalty Discount

Customer loyalty discounts are very similar to insurance bundling discounts. They are offered to those policyholders who remain with their specific auto insurance company over an extended period of time.

Some companies also offer a loyalty discount to customers who refer a friend or relative who ultimately purchases an insurance policy from them. The most frequently used incentives are Multi-Car and Renewal discounts. Depending on which company you choose, you can save between 25%- 30% when you insure more than one vehicle with the same company. The same discount rate can also apply when you renew your policy before it expires.

Most insurance companies also offer a customer loyalty discount when you purchase different types of insurance coverage with them, not just auto insurance. These can be home, rental, or life insurance, depending on the company you select.

While a customer loyalty discount is a good way to save money on your overall premium cost, it's always a smart idea to look at other insurance companies and see what price they can offer you for the same coverage you are now carrying. Check to see when your policy comes up for renewal and do some investigating before signing up for another term. It may save you even more money!