1) Those who get a quote from just one company and might end up paying way more than they need to,
or
2) Savvy ones who pay rates considerably below the norm
If you have been casually following the news about the car 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 and claim matters, car insurance rates in many cases have actually dropped.(See my earlier blog posting at
http://esendsure.blogspot.sg/2014/03/motor-insurance-premium-collected-last.html)
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, car insurance tops the list. But, of course your time itself is worth money. Most of the time, many car owners do not take the time to research if they could be getting a better deal. It is a trade-off between perhaps paying more and spending hours of your time getting quotes from multiple insurers.
However, the possibility is, when it comes to car insurance, the savings to be had by doing a little comparison shopping can be huge – often hundreds, if not thousands of dollars!
More importantly, there are now many insurance brokers or individual insurance representatives make it remarkably quick and easy to get multiple competitive quotes, so that you can easily find the lowest quote.
Most people are amazed by the huge differences between the quotes and their current rate after they have tried the free service.
Bottom line: It is simple to find significant savings fast, and contrary to what many people believe – it is easy and cost-free to change insurance carriers anytime. Consumers are never locked into a policy for any period of time.
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