My Insurance Broker
Aug 31st, 2016 at 03:58 pm • Richmond Hill, ON
Why does being a new business loyal customer lower my insurance premium?
Insurance companies adamantly work to ensure happy customers, and more specifically, satisfied customers that stay insured with the same company for longer periods of time. Often if you are insured for at least 3 years with the same insurance company, your insurer will reward your loyalty with an increasing discount starting at 5% off your current plan. That means that the longer you stay with your insurance company, the more likely you are to be rewarded with a loyalty discount when you switch (when switching to a new insurer, you can be rewarded for your loyalty to your existing insurer).
How much can I save on insurance if I switch to a new insurance company?
Being a loyal customer can affect your insurance premium, and you may be eligible to save between 5 – 15%. These savings are often added immediately after switching insurance providers or within a short time thereafter.