SAN FRANCISCO, Dec. 3, 2012 /PRNewswire/ -- Eighty-one percent of the Americans who switched car insurance carriers over the past year said that price was their primary consideration, according to new research released today by InsuranceQuotes.com, a Bankrate (NYSE: RATE) company.
The survey suggests, however, that many consumers are missing opportunities to save money. Only 21% of Americans shopped for car insurance within the past 12 months, yet 43% of those who did so ended up switching carriers.
"This suggests that many people who shopped around liked what they found," said John Egan, managing editor of InsuranceQuotes.com. "Consumers don't care as much about customer service or reputation – they want to know who's going to save them the most money. Everyone should take an hour or two to compare a few different carriers. It can't hurt, and you might be amazed by how much money you can save."
The survey found that the most popular way to shop for car insurance was by telephone (54% of respondents), followed closely by online (48%) and in-person (39%). Thirty-three percent of car insurance shoppers obtained three price quotes and 26% obtained four or more.The new survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here: http://www.insurancequotes.com/car_insurance-price. PSRAI obtained telephone interviews with a nationally representative sample of 1,000 adults living in the continental United States. Telephone interviews were conducted by landline (600) and cellphone (400, including 191 without a landline phone). Interviews were done in English by Princeton Data Source from November 8-11, 2012. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is plus or minus 3.7 percentage points. About InsuranceQuotes.com InsuranceQuotes.com provides consumers with a free, easy way to shop for and compare insurance quotes online, and delivers information about auto, home, health and life insurance and other types of insurance.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV