Loyalty discounts for NFU Mutual customers

Loyal NFU Mutual customers are set to receive discounts of up to 20% this year.

The company has announced it will be doubling the renewal bonuses it pays out given that 2010 marks its centenary.

Since 2000 the Mutual has discounted the premiums its customers pay on renewal by up to 10%. Policies include motor, home, business, horse and pet cover.

This year’s extra incentive will see total reductions totalling £184m, split between up to 93% of the firm’s client base.

The level of bonus policyholders receive (paid on renewal) depends upon the length of time they have insured with the company.

Those having held a policy with the firm for just one year will receive a discount of 12% while those remaining loyal for five years or more will be eligible for the full 20%.