Ever get the feeling that you’re paying too much for your car insurance? You’re not alone. Forbes reports that the average American auto insurance customer overpays by $417 each year and that number is going up every year. Could comparing insurance quotes help with this problem?
You know what’s worse, most car insurance companies know this. That’s why they work hard to keep their existing customers and to discourage them from shopping around. Here’s what you can do about it.
It’s true in most businesses that retaining existing customers is cheaper than recruiting new ones and car insurance is no exception. Your auto insurance company works hard to keep you. They have nice agents, they send you a branded ice-scraper and a birthday card.
Sadly, the real reward for your loyalty is usually higher premiums. To keep their long-time customers, some car insurers use price optimization. This is the practice of using customer data to raise rates just enough that you won’t feel the urge to switch.
Your rates creep up so gradually, that you won’t realize your rates have gone up $200 over your tenure before it’s too late. Your insurance company is relying on you being too comfortable to switch insurers and is taking advantage of your elasticity.
They also know that comparing insurance quotes regularly will expose this reality, and customers will become interested in switching.
It’s a bit of a myth that canceling your policy is hard work. It may have been back in the day, when you needed to visit your local agent in their office, explain why you’re leaving and sign documents.
That could take all day.
These days, many companies don’t even require a signature (they just record the call as proof) and those that do require your autograph can do it online or except email requests.
Canceling a policy can take just a few minutes and then: you’re free!
You’re free to start comparing insurance quotes to locate a less expensive insurance policy.
Here’s the good news: If you’ve been with your current insurer for a long time, you’ll probably be able to save big by switching. Have you tied the knot? Changed professions? Moved states? Maybe it’s been five years since you got that speeding ticket? You may be eligible for car insurance savings you’re not seeing. Even celebrating a birthday can save you money, especially going from teen driver to fully fledged adult.
Even if you think you’re getting a good rate now, it doesn’t hurt to compare. You may find that switching insurers is an easy way to save a few hundred dollars per year — and we’re pretty sure you can think of some better ways to spend your hard-earned money. Luckily there’s an easy, free, no-commitment way to compare…
If you listen to the commercials, you’d think saving money on car insurance sounds as easy as using a coupon at the grocery store. That’s what insurance companies want you to think.
We ran the numbers. It takes 7 minutes and 47 seconds on average to get an auto insurance quote – and if you get quotes by visiting all the major insurers’ sites, you’re looking at hours of work. Not only that, but you’ll find yourself revealing your personal information over and over again, such as your age, address and social security number. Sure, if you do it that way it’s tough.
Be wary of insurers and other sites that offer to help you compare multiple quotes. Most of them will give you estimates that aren’t entirely accurate, or they’ll collect your personal information to sell to someone else as a lead. ComparisonQuote.com isn’t like the other sites. We partner directly with insurance companies to offer real rates that you can actually buy.
Want to know if you can save on home or auto insurance? See for yourself. Start a quote today.