We just saved $88 per month!
It's been about four years since we quoted our auto insurance. In that time, we've added one car — daughter Becky bought a gently used Toyota Tacoma (we now insure three cars on our policy) and we've added one new driver — Joe got his license.
When our current insurance company — Response Insurance — notified us that they were increasing premiums in the state of Arizona about 25 percent, it motivated us to start researching before the increase took effect.
We submitted our information on InsWeb and received quotes back from seven companies. We also contacted an independent broker and got quotes from a few more companies.
We carry full coverage on all of our vehicles and a lower deductible. The kids pay for their own insurance, so we don't pay the full bill — we really like that. And we pay for our insurance once every six months.
If you take time to quote your insurance, post a comment here and let us know what you found out! Hopefully you'll save a boodle!
| Company |
6 Month Premium |
|---|---|
| Response Insurance | $3044.00 |
| Allstate | $2668.00 |
| State Farm | $2386.64 |
| Farmers | $2060 |
| 21 Century | $2024 |
| Geico | $1959.80 |
| Liberty Mutual | $1926.50 |
Each company sent a quote in writing and most had errors compared to what we had requested. We reviewed each one carefully and called the sales person to correct the quote. After we had all of the quotes exactly the same, we made a decision.
It really pays to quote your insurance ever few years. Saving money is like giving yourself a raise — tax-free of course! If you're strapped for time, give InsWeb a try, it really makes the process easier.
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Comments
That's pretty
That's pretty interesting...more than $1000 difference between the low and high bids. I don't get if that's because some companies are willing to take on more risk, or have different actuary tables, or what? For just about any other product or service market, the prices have become more commoditized, you can still find a deal, but not big swings of 30%+ price differences. I suppose that's why there are so many online places to compare insurance quotes. You would think that the more expensive companies would get tired of losing business though? Or perhaps the smaller number of sales at the higher price makes more margin and profit?