OAI: Survey Results Show Need for Auto Insurance Customers to Shop Around

Phoenix, AZ, March 14, 2012 --(PR.com)-- Results of a survey from business-consulting firm Deloitte show that the majority of survey respondents do not shop around to compare insurance prices as often as they should, according to OnlineAutoInsurance.com.

The report on the survey results, released on Tuesday, show that only 43 percent of the 1,080 respondents shop for alternatives to their current policies at least once every few years. About a third of the respondents said they "rarely" shop for alternatives, and about a quarter said they "never" do so.

While that may be understandable for consumers who get above-and-beyond coverage from a trusted insurer that they've stuck with for years, it's probably a good idea to get some car insurance quotes online from reputable competitors to see if more affordable coverage is available at policy renewal time.

That’s because insurers pricing structures can change due to factors that are out of consumers’ control. If a company sees heavy losses in a particular part of the state, for instance, it still hurts their overall bottom line, and policyholders in other parts may see increases in rates out of no fault of their own. Meanwhile, other insurers’ bottom line may have improved during that time, and they may actually be reducing rates. The only way to find out is to get quotes.

Even state regulators have touted the usefulness of comparing prices between companies.

"The only way you can make certain that you are not paying too much for your auto insurance is to shop around," says the Arizona Department of Insurance in a consumer brochure. "Prices for the same coverages may cost two or three times as much with one company as another. However, price is not the only factor."

Source: http://www.id.state.az.us/

Consumers who are thinking of switching insurers, however, should keep in mind that they may lose any loyalty discounts they are currently enjoying if they go through with it.

For more on this and other coverage issues, readers can head to http://www.onlineautoinsurance.com/ for access to informative resource pages and an easy-to-use quote-comparison generator that can help shoppers find the best rates quickly.
Online Auto Insurance
Benjamin Zitney