Customer Retention Insurance Discount

Sometimes known as a customer loyalty discount, this special insurance discount can lower your monthly premium as a reward for sticking with the same insurance company for a long time. Most drivers seek this discount on their car insurance, but it’s likely you can receive a customer loyalty discount on other types of insurance, as well, such as home insurance.

Many car insurance companies offer special car insurance discounts on monthly premiums. But these discounts usually require you do something in exchange. This may include everything from being a safe driver to installing special anti-theft devices in your car.

The customer retention discount doesn’t really require any action on your part other than staying a loyal customer to the same insurance company for some period of time. At Freeway Insurance, you can find many great insurance discounts on a variety of products, all geared toward your circumstances and budget.

Typically, your savings with this discount can be on average 11 percent. Some insurance companies will increase that savings percentage year after year. The longer you stay with them, the more savings they may offer.

Mainly, you check with your insurance company to see how much time they require you to be a customer to be eligible. Your insurance agent can then verify that you have been using the same insurance long enough to qualify.

How long is “long enough”? The answer varies from insurance company to insurance company. In some cases, carriers may personally contact you about the discount when you are close to the end of your current insurance term (for example, if you paid for 6 or 12 months of insurance at a time and you must now decide whether to stay with the same carrier or not).

Insurance carriers offer a customer retention discount in order to lose fewer customers each year. By retaining more of their existing customers while still bringing new customers in, carriers can better grow their brand and boost their profits.

It’s ultimately easier to hold onto an existing customer than trying to win over someone new. And insurance carriers like to reward long-term customers for their continued loyalty. By giving discounts to their most loyal customers, carriers can help everyone win.

At Freeway Insurance, we appreciate our loyal customers and we have many ways to show that appreciation, including finding the best rates – even for drivers with blemished records.

A customer retention discount is very important because it helps you save money on your monthly premium. Because you qualify for this discount simply by sticking with your insurance carrier long enough, this discount means you can experience major savings without having to do anything or make any major changes.

Additionally, various factors may cause your insurance premium to increase over time. Such factors include things like where you live, what car you drive, and even your credit score. By seeking out and taking advantage of special discounts that are available, you can keep up with increases to your insurance without having to adjust either your lifestyle or your coverage levels.

Other major ways to save on car insurance include other discounts such as discounts for safe driving and good grades. You can also seek to bundle your insurance policies together (such as getting car insurance and homeowners insurance from the same company). Finally, you can always save money by switching to another insurance carrier.

In many cases, switching to a new insurance carrier is the best way to experience real savings on your monthly premium. So while we recommend taking advantage of the special discount, you should never be afraid to shop around for better auto insurance rates.