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The best customer loyalty insurance discounts can be found at Liberty Mutual, Farmers, and Allstate.
Customer loyalty discounts are generally given to customers who stay with a company for an extended period of time and are claims-free.
| Insurance Company | Rank | Savings Potential | A.M. Best | Who Qualifies? |
|---|---|---|---|---|
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#1 | 25% | A | Long-term customers with over 5 years of loyalty. |
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#2 | 19% | A | Customers with multiple policy renewals. |
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#3 | 18% | A+ | Policyholders with continuous coverage. |
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#4 | 15% | A | Customers with a long history with the company. |
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#5 | 12% | A++ | Drivers who maintain policies for at least three years. |
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#6 | 12% | A+ | Customers with a long history with Progressive. |
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#7 | 11% | A++ | Long-term military families. |
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#8 | 10% | A+ | Customers with multiple policy renewals. |
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#9 | 9% | A++ | Available for long-term policyholders. |
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#10 | 7% | A++ | Applies to policyholders with long-term loyalty. |
Since loyalty discounts are one of the genius ways to save money on insurance, read on to learn how to qualify for the best loyalty discounts at the top insurance companies.
Want to shop for affordable insurance coverage today? Use our free quote tool to get started.
What You Should Know
- Liberty Mutual has a 25% customer loyalty discount
- Customers must stay with a company for a number of years to earn the discount
- Auto insurance companies with loyalty discounts also bundle with home policies
Best Companies for Customer Loyalty Insurance Discounts
When looking for the best insurance companies that offer customer loyalty discounts, several providers stand out for rewarding long-term clients with hefty loyalty discounts.
Take a look at the top companies' market shares below to see how popular they are with customers in the market.
Liberty Mutual is our top pick, with a 25% customer loyalty discount on insurance, and holds 5% of the insurance market.
Farmers and Allstate also have high customer loyalty discounts and large market shares (Learn More: Allstate vs. Farmers Insurance).
The popular insurance companies on our list offer a variety of insurance options and offer a bundling discount in addition to a loyalty discount if you purchase more than one type of insurance from them, such as home or business coverage.
Read More: Best Car & Homeowners Insurance as Rated by Customers
How to Get a Customer Loyalty Insurance Discount
Does staying loyal to an insurance company pay off? Insurance companies value long-term customers and offer customer loyalty incentives like customer loyalty discounts as a way to encourage retention.
To obtain a customer loyalty discount at most insurance companies, you typically need to maintain your policy with the same company for a set period of time. The time period differs among providers, but it often ranges from one to five years.
To qualify for customer loyalty discounts, you will likely need to actively renew your policy without any coverage lapses.
Companies will have different qualification guidelines, so it's a good idea to check with your insurance company to inquire about available loyalty discounts and how to qualify.
Pros and Cons of Staying With an Insurance Company
Sticking with the same company can offer several benefits to customers. Customer loyalty discounts make coverage more affordable, and some insurance companies also offer other perks to loyal customers, such as rewards programs and gift cards.
Loyalty discounts may not provide the biggest savings, but when combined with the best good driver car insurance discounts, safe drivers can save a lot of money on their premiums.
What are the disadvantages of loyalty programs? The downside of staying loyal to a company is that customers may miss out on a better deal by not shopping around periodically.
Securing a Customer Loyalty Insurance Discount
The best customer loyalty insurance discounts are are easy to get. You simply need to stick with an insurance company without coverage lapses for a specific period of time to qualify.
You can ask your insurance company directly how many renewal periods it will take for a loyalty discount to go into effect.
Liberty Mutual has the biggest loyalty discount on car insurance at 25%. It also offers additional car insurance discounts for teachers and other professionals. Whether you are looking for health insurance discounts or car insurance discounts for teachers, shopping around will help you determine if a loyalty discount truly offers the best deal for you.
If you want to find affordable insurance rates today, without waiting for a loyalty discount to go into effect, enter your ZIP code in our free quote tool.
Frequently Asked Questions
How can I get a customer loyalty discount?
It depends on your insurance company's requirements, but generally, you need to stay with the insurance company for at least one renewal period to qualify.
What are loyalty discounts?
Loyalty discounts are discounts given to loyal policyholders who stay with a company. You don't need to be a loyal customer to find savings, however. Shop for cheap insurance today with our free tool.
Which insurance companies have the best customer service?
USAA insurance reviews and Erie reviews consistently show high BBB and J.D. Power ratings for customer satisfaction and business practices.
What is the average loyalty discount?
The average loyalty discount among the ten best companies is 14%.
Do insurance companies give loyalty discounts?
Yes, most insurance companies give loyalty discounts to customers. They are one of the best home and best car insurance discounts and is one of the 6 car insurance discounts you should ask about.
What kind of discounts do car insurance companies give their customers?
Companies offer pay-in-full discounts, bundling discounts, and more. Loyalty discounts are common among most insurance companies, but discounts will vary based on the type of policy you buy, as Geico car insurance discounts will be different than home insurance discounts.
Read More: Geico vs. Progressive: Which do customers rate higher?
Do customer loyalty programs work?
Yes, customer loyalty programs usually work to help retain customers, as customers are more likely to stay if they are offered perks or discounts.
What are the cons of a loyalty program?
Wondering why can a customer loyalty program backfire?
Can you haggle with an insurance company?
You can negotiate with an insurance company on claims for homes and cars. Follow these tips to negotiate the best settlement for a totaled car. You can also ask if you can get discounts or do anything else to lower rates.
What company has the best customer loyalty?
USAA has some of the best customer loyalty ratings, with an A+ rating from the BBB.
Do insurance companies always offer a discount if you pay your annual premium?
Yes, most insurance companies offer pay-in-full discounts if you pay your premium annually instead of monthly.