There are Two Kinds of Auto Insurance Buyers. Which Kind Are You?

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.