Customer loyalty is a familiar concept to consumers. It’s the idea that customers who are happy with the goods and services a company provides will tend to stay with that company, even though a better price may be available. Loyal customers would rather pay a bit more for excellent service and quality products. The concept of customer loyalty is at the heart of what is called price optimization, which is unfamiliar to most car insurance buyers.
There’s a lot of information out there about car insurance rates, especially car accident insurance rates, after you submit a claim. Most people believe that car accidents automatically raise car insurance rates, but this is not always the case.
In an effort to keep your insurance rates as low as possible, it's important that you understand what goes into your car insurance rate. Here's a list of nine key factors that can impact your premium, as well as tips on how to manage the ones that are within your control.
