16. New Vehicle Discount
Insuring a car that is only a year or two old can sometimes qualify for a discount, since newer vehicles are equipped with the latest safety technology and are less likely to experience certain types of mechanical failure related claims. This discount typically phases out as the car ages, so it is worth asking about it specifically if you recently purchased a new vehicle.
Quick tip: Ask about this discount specifically when insuring a car less than three years old, since it often is not applied automatically without a direct request.
17. Loyalty Discount for Long-Term Customers
While shopping around is usually the better financial move overall, some insurers do offer a modest loyalty discount for customers who have stayed with them for a certain number of consecutive years without a lapse in coverage. It is worth asking whether this applies to your account, even while still comparing outside quotes to ensure the loyalty discount is not simply offsetting a higher base rate.
Some insurers structure this discount to increase gradually every few years, meaning a customer who has been with the same company for a decade or more may be receiving a meaningful reduction that a newer customer simply is not eligible for yet.
Quick tip: Always compare your loyalty-discounted rate against a few outside quotes, since a loyalty discount on an already inflated base rate may still leave you paying more than switching companies entirely.