Forget the whole “15 minutes can save you 15 percent or more on car insurance” hook. You can save over DOUBLE that amount just by doing your research.
Only 18% of people shop their auto insurance policy annually, so it’s not surprising that the average policyholder overpays $368 a year. With a little shopping around, drivers can save 32% on their auto insurance.
Different States, Still a BIG Difference in Premiums
Even within the same zip code, rates vary on average by 154%. Florida’s average difference in premiums varies by 90%, which seems large but is considerably smaller than the 194% difference in premiums Texas residents pay. Regardless of the state, the average percent variance in premiums presents a huge opportunity to save.
Searching for Online Quotes Never Ends
50% of drivers who search online for auto insurance quotes find it time-consuming, and who can blame them? Between the varying rates and the number of vehicles you are trying to cover, it seems nearly impossible to find a definitive quote online. Thankfully there are agencies out there (like us) that will not only do the research for you, but will also act as a mediator between you and the insurance companies so that you don't have to waste your time on countless sales calls.
How to Save
The first and easiest way to save on your auto insurance is by periodically reviewing your policies. Depending on the age of your vehicle, it may be in your best interest to drop certain parts of your policy, like collision.
Another simple way to save some money is to check the accuracy of your credit report. Insurers analyze the likelihood to file a claim through your insurance score, which is based on your credit report.
Last but not least, bundling your policies may save you money. So, if your auto insurance is with one company, consider purchasing renter’s or homeowner’s coverage with that company as well.
Don’t overpay for your auto insurance or any insurance for that matter. If you have questions, or want to see if you can save, contact your DSI agent!