Disconnect exists between drivers and auto insurance, survey says
Many consumers are concerned about the cost of auto insurance, but few consider the cost of their insurance premiums to be a factor when buying a car, an Experian survey reveals.Many consumers are concerned about the cost of auto insurance, but few consider the cost of their insurance premiums to be a factor when buying a car, an Experian survey reveals.
Similarly, 79 percent of those surveyed report that their auto insurance premiums are too high - but 45 percent don't know how to shop for the best price on insurance.
These paradoxes illustrate the dissociation between drivers and their insurance. Even though traffic fatalities have been decreasing steadily since 2005, resulting in lower insurance costs, 17 percent of those surveyed by Experian admitted that they had never re-evaluated the price of car insurance.
In addition, 49 percent of survey participants said they didn't know about discounts for which their driving habits qualified them. A publication from the Insurance Information Institute notes that, even if a driver doesn't change his insurance provider, he can save cash by requesting a higher deductible or dialing back coverage on an older car.
Some insurers, eager to keep customers happy, will acquiesce to a discount if asked. Consumers can leverage their safe driving record - that is, no at-fault accidents or speeding citations - in requesting a discount.
Learn how easy and convenient shopping for auto insurance can be. Get your free auto insurance quotes today!
Posted: Octobor 20, 2009
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