Shopping for cheap auto insurance quotes is a very simple process in which motorists fill in their details online or provide it over the phone to several companies or agents and get prices. The whole process takes about 5 – 10 minutes each time so people can get more than ten quotes in an hour. Assuming they offered the exact same details and required the same coverage, they can line up insurers from cheapest to the most expensive. Often, one quote jumps out as a clear winner, in terms of coverage, price and reliability of the provider.
However, motorists complicate this simple process in their heads to a point that they dread starting it. Some policyholders may be happy with their current vehicle insurers and confident that they are paying fair premiums. But many policyholders remain with their carriers out of inertia rather than satisfaction. They are not really convinced they can save money so choose to do nothing about it until something like increased renewal premium or bad customer service forces their hands to look for other companies.
Many reluctantly reactive motorists have been looking for cheap auto insurance quotes lately due to significant forces like Covid and Inflation. They realized that they may be in for tough times and they’d better try to save some money wherever they can. This time they were ready to switch and 90% of vehicle insurance shoppers, who found better prices switched, according to a recent J.D. Power survey.
Another significant milestone has been reached in 2020 and digital channels finally surpassed the agency and broker networks in sales of automobile insurance policies. So, consumers have taken to online solutions when they need to find cheap vehicle insurance quotes, used comparison websites or went directly to providers’ websites to do their research and purchase policies. According to surveys, not only did they complete the purchase online but also they were more satisfied when they interacted with their carriers digitally.
Consumers are encouraged by the speed, convenience and result oriented nature of the Internet to have a propensity to look for better products, services, prices and providers. More and more motorists are impressed with the fact that the process of getting car insurance quotes is made easy and approachable.
One of the surveys carried out by the Financial Conduct Authority (FCA) revealed an interesting insight. Many motorists confirmed that they found the online auto insurance shopping process to be more productive if they were to simply follow the process from start to end until they get the results. This would allow them to get quotes from companies they wouldn’t otherwise consider and really get to the bottom of the prices.
On the other hand, motorists who tried to control the process by pre-screening the companies they like to get quotes or checking every detail failed to let many car insurers impress them by delivering knockout results. Basically, they started their screening process too early and got stuck on names and brands, rather than seeing the prices first and starting the process of choosing a provider after.
This goes to show shopping for auto insurance can extend motorists’ horizons since they will quickly see that there are many highly reputable, reliable, financially sound insurers with many satisfied policyholders to choose from. Most importantly, motorists will realize that some companies can beat others on price because they are competitive, and not because they are unknown to a point of shady and desperate for business due to terrible reputation.
Latest figures show that companies like Progressive, GEICO, State Farm, Allstate and Nationwide successfully use their size to offer cheaper and better products to millions of policyholders. That is why they win over millions of new customers every year. Statistically, people are most likely to get cheap car insurance quotes from one of the largest carriers in the US and not some company they have never heard of before.
So, there is no need to hold back. The whole process of shopping is made much easier with step-by-step quote forms leading the way. People are less likely to get confused once they decide the coverage they need and ask every company to quote for their chosen level of coverage. And no need to be scared about getting quotes from some unknown companies and being in two minds about picking a cheaper quote on account of not trusting the provider since they are likely to instantly recognise the brands.
There may be one or two new names they come across but it is pretty easy to research them once they show themselves being worthy of looking into by beating other quotes.
Another striking revelation is that most auto insurance companies appear to be concentrating on price and not going into many other qualities they may possess as a long-established brand. They appear to be steering away from complicated jargons and complexity of policies. Most advertisements are about how you can get cheap vehicle insurance quotes and save money.
It appears insurers have done their homework and decided that they should keep it simple and convince motorists to get quotes from themselves. They either believe their prices will impress enough applicants or they will win enough motorists over by giving out millions of quotes a year. So, the magic is in numbers when it comes to finding cheap car insurance as you increase your chances of saving money by getting enough quotes.
Even a most loyal policyholder should shop every once in a while, and they may have many reasons presented to them. Most obvious and effective times to look for better quotes is when you receive a higher-than-expected auto insurance renewal quote, move to a new address, change the car or job or need to add a teenager or a high-risk driver to a policy. Loyalty is a novel character but you should make sure you don’t end up losing money because of it.