Early Signing Car Insurance Discount
Secure an exclusive early signing car insurance discount and save on your premium. Discover which top companies offer this special discount and learn how to maximize your savings. Get a quote now and take advantage of this golden opportunity to significantly reduce your car insurance costs. Don't miss out on this limited-time offer!
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Laura Walker
Former Licensed Agent
Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...
Former Licensed Agent
UPDATED: May 26, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: May 26, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
Welcome to our comprehensive guide on Early Signing Car Insurance Discount. In this article, we will explore the concept of early signing discounts offered by auto insurance companies and how they can help you save money on your premium. We’ll discuss which insurance providers offer this discount, the potential savings you can enjoy, and the importance of shopping around to compare rates.
- If you let your insurance lapse and drive without coverage, you may be penalized and end up paying higher rates for coverage
- Insurance companies will offer financial incentives like discounts to encourage you to renew your policy or buy a new one before your existing coverage expires
- You need to shop around for a better deal long before your policy’s expiry date
Our goal is to empower you with the knowledge to make informed decisions about your car insurance coverage. Ready to find the best rates? Enter your zip code now and compare quotes from top insurance providers. Don’t miss out on potential savings – take control of your car insurance costs today!
What is an early-signing insurance discount and how do you get it?
The early-signing insurance discount is an incentive insurance companies use to retain customers. The insurance company will typically offer this discount as you approach your renewal phase, but you may also need to reach out and request it.
You should look for emails or notices from your insurer in the month before your renewal date, and reach out at least one week before your insurance expires to see if there is an early-signing discount on offer.
Different insurance companies offer different discounts. The Allstate early signing discount offers 10% off for signing a week early, for instance, and so does Travelers. American Family has a similar discount but does not advertise how much policyholders will save.
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Why Insurers Offer Early Signing Insurance Discounts
Research shows that it is five times (and sometimes 25 times) more costly to acquire a new customer than to retain a current one. In addition, an insurer is at least 60% more likely to sell to a current client.
That’s why many insurance companies are willing to offer a discount for renewing your policy as an incentive for you to stay. And the discount could be as much as 15% off the total price if you buy another policy at least a week early.
There is nothing wrong with accepting the discount offer, provided you know you’re getting value for your money.
Shop Around for Rates
It’s important to shop around and compare auto insurance rates before deciding whether to accept the early signing insurance discount from your current insurer. You can do that by using insurance comparison sites and asking for quotes.
When comparing prices for auto insurance coverage, you need to:
- Provide the same information to all the potential auto insurers and use similar criteria when getting your quote
- Inquire whether your auto insurance policy can be bundled with other kinds of coverage, like home insurance
- Start the research process early enough so that your existing policy doesn’t lapse and leave you uninsured.
Typically, shopping around and moving to a cheaper insurer will enable you to save money anyway. You need to weigh that against the early-signing discount before you take it. After all, early-signing discounts are just one of the many auto insurance discounts available to drivers.
Do your research to make sure staying with your current insurer is the right move.
When to Renew a Car Insurance Policy
You must review your policy before it’s about to expire and compare the discounted premium costs to the available offers from other insurers.
You should renew your car insurance policy if:
- You are happy with the coverage you already have and feel you are getting your money’s worth
- Other insurers are offering more expensive coverage compared to the rates you are already paying for your preferred policy
- You left your research too late and risk having no coverage if you don’t renew your policy
- What you will save by taking advantage of the early signing insurance discount is similar to or better than the savings you will see by switching car insurance
- You can bundle multiple policies, and save more money with your current insurance company
In short, as long as your current insurer is giving you value for money it makes sense to renew your car insurance early and take advantage of early-signing discounts.
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The Consequences of Letting Coverage Lapse
According to the Insurance Information Institute, around 12.6% of drivers are uninsured, yet driving around without insurance is illegal in most states, which means you will get in trouble if you have no insurance. If you are caught, you risk paying fines, getting jailed, having your vehicle impounded, or losing your license for a while.
If you cause any accidents while driving uninsured you are responsible for any costs for the other party’s loss. This can be expensive, and can even leave you bankrupt. You should always have the bare minimum liability auto insurance required by law in your state, and never let it lapse.
Enjoy The Early Signing Insurance Discount
It would be best to research early and decide whether or not to renew early long before your policy’s expiry date. If you feel you are getting a good deal, enjoy the early signing insurance discount. The time immediately before you renew is when you’re most likely to find cheaper insurance, early-signing discounts, and other incentives to stay with your current insurer, but it’s also a good time to compare auto insurance quotes to make sure you’re still getting the best deal.
Frequently Asked Questions
What is an Early Signing Car Insurance Discount?
An Early Signing Car Insurance Discount is a type of discount that some insurance companies offer to customers who sign up for a new car insurance policy before their current policy expires. This discount is usually applied to the premium of the new policy and can help customers save money on their car insurance.
How much can I save with an Early Signing Car Insurance Discount?
The amount you can save with an Early Signing Car Insurance Discount will depend on the insurance company you are working with and the details of your policy. Some insurance companies offer discounts of 5% to 10% for customers who sign up for a new policy early, while others may offer more significant savings. It’s important to shop around and compare quotes from different insurance providers to find the best deal.
When should I sign up for a new car insurance policy to get an Early Signing discount?
To qualify for an Early Signing Car Insurance Discount, you typically need to sign up for a new policy at least a few days or weeks before your current policy expires. The exact deadline will vary depending on the insurance company you are working with, so it’s essential to check with them to find out the specific requirements.
Can I get an Early Signing Car Insurance Discount if I switch insurance companies?
Yes, it’s possible to get an Early Signing Car Insurance Discount even if you are switching from one insurance company to another. In this case, you would need to sign up for the new policy before your old policy expires to qualify for the discount.
Are there any drawbacks to signing up for a new car insurance policy early?
There are typically no drawbacks to signing up for a new car insurance policy early. However, it’s important to make sure that you are not canceling your current policy too soon, as this could result in a gap in coverage. Additionally, you may want to consider factors such as the cost of the new policy, coverage options, and deductibles before making a final decision.
Is Early Signing Car Insurance Discount the only way to save money on car insurance?
No, there are many other ways to save money on car insurance such as bundling policies, taking advantage of safe driver discounts, raising your deductible, and maintaining a good credit score. It’s always a good idea to check with your insurance provider to see what discounts are available to you.
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Laura Walker
Former Licensed Agent
Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...
Former Licensed Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.