The “loyalty discount” thing always cracks me up. In my experience, sticking with one company doesn’t really save you much—sometimes they actually raise your rates over time because they assume you won’t bother switching.
Yeah, that’s been my experience too. I used to think loyalty would pay off, but after a few years with the same company, my rates crept up for no reason. Ever notice how they’ll give new customers a better deal than folks who’ve been with them for ages? Makes you wonder if there’s any real benefit to sticking around. Have you ever had a company actually lower your rate just because you asked? I’ve tried a couple times and usually just get some vague explanation about “market factors.” The whole thing feels like a game sometimes...
Funny thing, I’ve actually seen rates go up after years with the same company, even though I’ve never filed a claim. It’s like they’re betting you won’t notice or bother to shop around. I did try calling once to ask for a better rate—got the same “market conditions” spiel you mentioned. Honestly, the only time I’ve seen a real drop is when I switched providers. Loyalty seems to be a one-way street in insurance...
Loyalty seems to be a one-way street in insurance...
That’s been my experience too, especially with higher-end vehicles. I’ve had the same company for years, never missed a payment, never filed a claim, and yet my premium creeps up every renewal. I always get the “market conditions” excuse, but what does that even mean? Are they just lumping everyone together, or do they actually look at individual risk?
I’m curious if anyone’s actually gotten a meaningful discount just by asking, or is switching really the only way? I’ve heard some companies will drop your rate if you threaten to leave, but I’ve never had much luck with that. Maybe it’s different if you’re insuring something more “mainstream,” but with luxury cars, it feels like they just assume you’ll pay whatever.
Is there any real benefit to sticking with one provider long-term? I keep hearing about “loyalty discounts,” but I’ve never seen one that actually made a difference. Maybe I’m missing something, but it all feels a bit rigged.
Couldn’t agree more—loyalty doesn’t seem to mean much with insurance companies these days. Here’s what I do every year: shop around, get a few quotes, and then call my provider to see if they’ll match or beat them. Nine times out of ten, the only way I get a better rate is by actually switching. Those “loyalty discounts” are usually just a few bucks, if anything. Honestly, unless you’ve got some crazy bundled deal, there’s not much payoff for sticking around. It’s a hassle, but jumping ship seems to be the only way to keep costs in check.
Yeah, I hear you, but as someone with a couple tickets and an accident on my record, switching isn’t always that simple. Last year, I tried to jump to a new company after my rate shot up, but most places either flat-out denied me or quoted something even worse. Ended up sticking with my current provider just because they didn’t jack it up as much as the others. Loyalty discounts are a joke, but sometimes being “high risk” means you’re stuck between a rock and a hard place. Still, I check every renewal just in case... never know when something better might pop up.
