If you’ve been with the same insurer for years then chances are that there’s now a lot more out there on the market than there was previously when you first joined your current car insurance provider. Competition for new customers in the market is so vicious that insurers are tailoring great new products, packages and deals together to stay on-top. And even if it’s not the price that’s important to you, then switching to a new insurer and new policy for better features and extras cover can’t hurt at all.

Before you do go and switch though, it is a good idea to note any discounts you may be entitled to, in particular loyalty discounts and switching insurers may mean you gain or lose one of these benefits.

1. Continued member: If you have held car insurance with the same company for more than 1 year then you may be entitled to receive a discount on your insurance premium.  RACV is one such company that offers this service.

2. Existing customer: If you are already a customer of a particular company then they may offer you a multi policy discount.  Ie, you may have home and contents insurance with Budget Direct and then decide you want to use them for your car insurance policy too.  You may be entitled tto a discount on your car insurance policy as you are already an existing policy holder for another product of theres.  There are several insurance companies that offer this so check around next time you get a car insurance quote.

3. Family discounts: A few car insurance companies offer you a discount if a family member is currently insured with them.  This doesn't mean that you can go out as far as 2nd cousins but immediate family are usually counted including grandparent and parents.  So next time you go shopping for car insurance quotes you should factor in a possible family discount if it is applicable.

In addidtion to loyalty discounts if you get an online car insurance quotes and following through with a purchase then you will often receive a donline iscount which is usually 10%.  See Can i save by purchasing car insurance online?

Despite a loyalty you may get by staying with your current insurer, yu have to weigh up the price of your policy as well as the features that come with it and see whether it is the best option for you.  In general, it is always best to requote your car insurance each year and switching insurance companies is really no problems at all.