One of the dirty little secrets of the auto insurance world is that
there are two types of customers; savvy ones who pay rates considerably
below the norm, and those who get a quote from just one company and end
up paying way more than they need to.
If you’ve been casually following the news about the auto insurance
industry over the past few years, you could be forgiven for believing
that rates have skyrocketed and continue to climb. The real story is
that, as a result of relentless consumer and regulatory pressure on
insurance companies, auto rates in many cases have actually dropped. Of
course, don’t expect your insurance company to let you know you could
be getting coverage for less.
Of all the monthly expenses that can be reduced with some time and
effort, auto insurance tops the list. But, of course our time itself is
worth money. Often, we don’t take the time to research if we could be
getting a better deal. It’s a tradeoff between perhaps paying more and
spending hours of our time getting quotes from multiple insurers.
But, here’s the kicker: When it comes to auto insurance, the savings
to be had by doing a little comparison shopping can be huge – often
hundreds, if not thousands of dollars!
More importantly, new online services now make it remarkably quick
and easy to get multiple competitive quotes, so that you can easily find
the lowest quote for you.
One of the best of these free new services is called Bankrate Insurance,
which is remarkably fast and easy to use. Just input your information
on their website and they will provide up to four of the lowest rate
quotes from top-tier insurance companies for you to compare. Most
people are amazed by the huge differences between the quotes and their
current coverage.
Bottom line: It makes it simple to find significant savings fast.
And, contrary to what many people believe – it’s easy and cost-free to
change insurance carriers anytime. Consumers are never locked into a
policy for any period of time.
