Advanced Renewal Discounts

Advanced Renewal Discounts

For insurance companies, the cost of acquiring new customers is significant.  There is much competition for new business and insurers are spending billions each year on advertising.  If you watch television much, it is difficult to go very long without seeing and insurance related add, and almost everyone knows the Gecko and Flo.  As it is so expensive to acquire new customers, insurance companies do what they can to keep their existing customers. Some insurer offer advanced renewal discounts as an enticement to existing customers to remain loyal.

Question: What Is An Advanced Renewal Discount?

Answer: An Advanced Renewal Discount is typically a premium discount that is offered to existing customers for renewing (and paying for) their renewal policy early.   For example, the expiration date on your present insurance policy might be December 1st, 20XX.   You might receive a letter from the insurance company in September that says:  “Your renewal policy has an annual premium of $2,000.   Return this envelope with the renewal premium and a request for renewal by October 1st, and we will renew your policy for $1,800.   Thank you for your loyalty.”

The $200 is the Advanced Renewal Discount.

Below you will find links to other articles about discounts for which you may be eligible.

What Are Some Auto Insurance Discounts?

Auto Coverage Discounts

Home Coverage Discounts

How Much Does Homeowner’s Insurance Cost

Did You Know Veterans Get Discount Auto Insurance

How Is Insurance Pricing Set

How Do I Qualify for Discounts on My Auto Insurance

Automatic Restraints Auto Discount

Anti-Theft Auto Discount

Good Credit Auto Discount

Paperless Auto Discount

Affinity Group Auto Discount

Defensive Driving Auto Discount

Advance Renewal Auto Discount

Senior Citizens Auto Discount

Good Student Discounts

Annual Mileage Auto Discount

Home Ownership Auto Discount

Concurrent Life Insurance Discount

Electronic Funds Transfer Auto Discount

Paid in Full

Paperless Auto Discount

Saving Money with Car and Home Insurance Bundles

Multi Car Auto Discount

Enhanced Insurance is not written by attorneys. If you’re looking for legal advice, you need to contact a lawyer. Further, insurance practices and forms change constantly and are varied from state to state. For definitive answers in your area, contact a local agent.

While the majority of people want an agent involved in their purchase of insurance, many people want to see if they can save money by buying direct from the insurance company. Others want to try a direct quote to make sure the premium they’re now paying through their local agent is fair. If you want a quote for your coverage, click on the competitive quote button on the right side of this page.