New Customer or New Plan Auto Insurance Discount
If you’re looking for new auto insurance coverage, you could qualify for a new customer or new plan auto insurance discount. While there may be local agencies near you offering this savings opportunity, currently, three national providers offer an affordable new customer or new plan auto insurance discount. Expect your new customer or new plan auto insurance discount rates to be 10% cheaper than average.
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UPDATED: Jul 15, 2021
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- Currently, three major providers offer a new customer or new plan auto insurance discount
- On average, drivers save 10% on their premiums with this discount
- Other insurance companies might offer you cheaper quotes even without a new customer discount
Are you shopping around for new third-party auto insurance? You might qualify for a new customer or new plan auto insurance discount.
Keep reading to discover how to get discounts on auto insurance and determine if this savings opportunity is right for you.
After learning about new customer or new plan auto insurance discount rates, remember to enter your ZIP code into our free tool above to receive quotes from the top providers in your region.
What companies offer a new customer or new plan auto insurance discount?
Are you on the market for new auto coverage and want to buy new customer or new plan discount auto insurance? You have three national providers to compare.
Local companies in your region might also advertise this savings opportunity.
Below, check out a complete list of participating providers. In addition, we’ve included rate reduction amounts where available:
- Liberty Mutual
- MetLife – 10%
- Safe Auto – 10%
If any of the above providers are on your comparison list, then the new plan discount is one of the auto insurance discounts to ask for while you’re shopping around.
Remember, your age, driving record, and coverage needs also heavily impact your annual auto insurance prices.
Every company uses vastly different equations to calculate insurance rates.
As a result, you may receive a cheaper quote from a company that doesn’t even offer this discount.
Ultimately, the best new customer or new plan auto insurance discount company for one person might not be the same for their neighbor.
To secure your lowest possible insurance premiums, compare quotes online from multiple providers.
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What is a new customer or new plan auto insurance discount?
A new plan auto insurance discount is a way for providers to incentivize people to switch insurance companies.
So not only do you get a rate reduction, but the provider also is gaining more business.
According to the most recent database report from the National Association of Insurance Commissioners (NAIC), neither MetLife nor Safe Auto is in the top 10 companies by private passenger auto insurance market share.
Because insurers often reduce your rate automatically when you apply for the quote, this is considered one of the hidden auto insurance discounts.
Expect qualification rules and savings amounts to vary from one provider to the next. In some cases, the discount only lasts for one policy year.
With MetLife, you only earn the discount if your previous provider insured you for six months.
Also, only one person on your policy receives the cutback.
New Customer or New Plan Auto Insurance Discount: The Bottom Line
While comparison shopping for new auto insurance, never hesitate to ask about discounts, including the new customer or new plan discount.
However, do not cancel your current policy until you’ve secured a new one. Otherwise, if your coverage lapses, it could lead to an increase in your annual costs.
Now that you’ve learned about the affordable new customer or new plan auto insurance discount, compare quotes from the best providers near you by entering your ZIP code into our free rate tool below.