Most Drivers Choose The Wrong Insurance

Most Drivers Choose The Wrong Insurance

We can’t be expected to make the right purchase every time, especially with so many options available to us in the marketplace. Whether it be a simple decision in the grocery store aisle or a bigger purchase like looking at new cars on the lot, the number of options available to us can sometimes be overwhelming.

Buying auto insurance can be just as disorienting. When we sit down to watch evening TV shows, we are subject to dozens of ads from multiple carriers saying they have the lowest rates around. When we surf the web we are peppered with ads saying you can save hundreds by making the switch to another insurer. Trying to find out which insurer is best suited for your vehicle and budget is no easy task, which is why more drivers are realizing that they may have chosen the wrong insurance.

The Numbers Don’t Lie

A 2013 report from JD Power & Associates found that millions of drivers in the US were choosing the wrong insurance. What did this study discover? Nearly 50% of drivers who had purchased auto insurance ended up switching insurers. The icing on the cake is that during this same survey many drivers said they were satisfied with their current coverage. So why are so many of the satisfied insurance customers in America still looking at switching insurers?

While it may not make sense at first, a quick analogy shows why drivers are making this choice. Let’s say you bought a nice new TV for your house. Flat screen, decent size, and works with most of your existing audio/video equipment. You are satisfied with your TV, but you know that there are bigger and better options out there. You’ve seen those massive, widescreen HD TVs at the store but they always cost more than what you were willing to spend.

Imagine there was a way to get that better TV at the same price as your current one. Imagine there was a way to even buy the same TV you have, but at a lower cost. While you may be satisfied with your current set-up, the reality is that you would jump at the opportunity to find something better at the same or lower cost.

This is exactly what drivers are doing every day. Regardless of their satisfaction with their current insurer, they are finding better policies and lower rates that are the clear winner when it comes to cost and coverage.

How Are Drivers Finding These Savings?

It’s a natural question to ask, and it has an easy answer. Let’s go back those televisions for a minute. When you are out shopping in the store you always check out all the prices, see what is the best deal for your budget. Now occasionally you take the weekend, drive to a few stores and compare prices. Sometimes you even go online and check to see what the prices are there as well. But you can’t drive to every store and check every site, it would be a waste of time and money to do so, so you just settle on the best TV you can find. Just like those TVs, drivers are settling on the best policy they can find, because they reach a point where shopping around becomes too much of a hassle.

The insurance marketplace has changed over the past few years though with the help of online insurance comparison websites. Sites like InsureMyCar4Less have national networks of thousands of licensed insurance agents that allow them to scour the market for the best deals and coverage. Instead of running across town trying to find the best deals, comparison sites will do the legwork for you. After filling out a secure online form, your information is delivered to agents who are actively competing to win your business with the lowest possible rate. The system then picks those most competitive rates and delivers them straight to the consumer.

These new sites have changed how drivers are shopping for insurance. At the end of the day drivers are able to find big savings with little effort. While most drivers choose the wrong insurance, luckily it is easy to find better rates - or better coverage for the same rates - at the click of a button.

Nearly 50% of satisfied insurance customers still switch their coverage plans. Now ask yourself, are you satisfied with your insurance? Are you happy with your deductible, are you comfortable with the price you are paying? If you are satisfied, it still doesn’t mean you are getting the best rate.

If you aren’t satisfied, what are you waiting for? Join the millions of drivers who have found the easy solution with an online insurance quote.

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