Seniority
Seniority is how long you have been a customer of an insurer or held a particular policy without interruption. Long seniority can earn you better terms, a lower premium or a discount, because the insurer knows your claims history. If you switch insurer, seniority can sometimes be transferred if you can document it.
Examples
A company has held its business insurance for ten years without a claim and is offered a better price at renewal.