Car insurance advertisements are something you cannot avoid these days. They are there when you are watching your favorite sports program, TV episodes or movies. They are there when you are travelling on subway or reading a newspaper. The money spend on advertisement by insurance companies are in the billion dollars now. The fight is really on for new customers to a point that it raises a dilemma. There is a high possibility that companies with big budgets will be able to dominate the advertising space. And get bigger and bigger in the process in the expense of smaller insurers.
Now, back to the main question of what you would be impressed with. Quite a few of them bases their slogans on price as opposed to the ones that concentrate of quality of products. Would you be inclined to get quotes from companies that suggest you can save money with them? Or would you go for a company that is on your side or offer guaranteed auto accident repairs?
A simple observation would confirm that current trend is about saving money. Many of them goes like “you can save 15%” on your auto insurance, “same coverage cheaper premiums” and you can see many websites sticking to “you can save $500 today”. These companies are one of the largest in the industry.
They must have done their homework about what works. Another reason may be that they are advertising on prime time television and top TV networks. Those commercials must not be cheap to buy. That may be the reason why they are not toying around but going straight to jugular. Current economic problems and trend to shop around for the best deal may be another reason. In the past they were trying to make buyers feel secure about the company. Now, they talk straight to the wallet.
Probably Progressive and GEICO adverts are good examples to use. They are always up there with the rest of them. One of GEICO’s top managers claim in a recent interview that thanks to media exposure they are now one of the leading vehicle insurers. Of course it is great for the company.
Another important question is that do motorists go with these companies after seeing these adverts. That is what GEICO manager suggests. Wouldn’t people feel the need to shop around if they haven’t seen the ad in the first place? Wouldn’t they have a look online or ask around for cheaper or better companies? If so, it would suggest that policyholders are lazy shoppers and the market is ripe for auto insurance price optimization.