What is a persistency discount for auto insurance?

Question

What is a persistency discount for auto insurance?

Answer 1

The persistency discount is received for staying a certain amount of time with the same insurance company.

This discount should be compared with the insurance rate that you may be able to get if you switch to a new insurance company.

It is best practice to compare auto insurance rates from at least 5 different companies every 6 months or so because rates change so often.

Here is some more information on finding cheap car insurance:

Answer 2

They are reduced rates provided as an incentive for consecutive years of coverage with the same carrier.