Shopping around leads to an average savings of over $1,600 annually
Foster City, CA – April 27, 2021 – Switching car insurance companies can put drivers on the road to big savings and a survey of 3,725 drivers by CarInsurance.com — a one-stop destination for unbiased, expert advice on car insurance — reveals that 59% of drivers would make that trip to save at least $250 annually. More than one-third of respondents say they would switch to save $50 to $100 per year.
CarInsurance’s report Switching car insurance: How to do it the right way, details how much drivers would need to save to make the switch:
- $50/year: 10%
- $100/year: 24%
- $250/year: 30%
- $500/year: 18%
- $1,000/year: 6%
- Over $1,000/year: 5%
Only 7% of drivers say they wouldn’t change auto insurance companies no matter how much they could save.
The study finds that younger and middle-aged people are especially interested in switching companies if they can find savings. Eighty-five percent (85%) of younger drivers and 86% of middle-aged drivers say they would change insurance companies for a savings of at least $100.
Only 2% of younger drivers and 5% of middle-aged drivers indicate they would never change car insurance companies, regardless of savings. Older drivers appear satisfied with their existing carriers, with 13% saying they would not switch companies to save money.
CarInsurance.com provides advice on the best times to start shopping for new insurance, strategies for bundling home and auto insurance, and for negotiating for a better rate from a current insurer.
“Switching car insurance can save drivers hundreds, or even thousands, of dollars, but it does take some legwork,” explains Michelle Megna, editorial director at CarInsurance. “Many drivers miss out on significant auto insurance savings because they don’t take the time to get quotes from other companies or they don’t know where to start.”
Megna is available to elaborate on CarInsurance’s 3,725-person study and its findings, and can provide tips for getting better rates on auto insurance.
CarInsurance is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in providing performance marketplace technologies and services to the financial services and home services industries. QuinStreet is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. CarInsurance is a member of QuinStreet’s expert research and publishing division.
CarInsurance is a one-stop online destination for car insurance information, providing unbiased, expert advice on how to shop for insurance plans, what consumers should pay and what coverage they can get from a policy. Since 2003, CarInsurance.com has been educating consumers through its breadth of expert content, tools, and in-depth studies to help site visitors make informed decisions about their car insurance.
Senior Director of Public Relations