There are lots of theories out there on who invented the internet, perhaps the most consequential technological advancement in recent memory. Whoever that person – persons – happened to be, though, they probably didn’t associate it with helping consumers save money on their car insurance.
But that’s just what the world wide web has done for millions of Americans, according to a recent survey from the Insurance Research Council.
In a poll of approximately 1,200 adults, 25% of respondents indicated they had shopped for car coverage in the previous 12 months, IRC reported from its findings. Additionally, of those who compared insurance quotes, 80% said they did it so mainly to see if they could buy a plan at a more affordable value. Of these, 1 in 3 ultimately wound up switching to another coverage provider, presumably because they were able to buy something that was similar but for a cheaper price.
71% who shop around do it online
Of course, the internet isn’t the only way that consumers can see what’s out there for auto insurance. However, it’s far and away the most common resource policyholders use, likely because it’s extremely efficient and readily available. Nearly three-quarters of respondents who priced coverage plans did so via the internet, the poll revealed. At 48%, a plurality used their desktop computers, but alternative methods of online surfing were also used, chief among them laptops, followed by smartphones and tablets.
Elizabeth Sprinkel, IRC Senior Vice President, acknowledged that the world wide web has changed the face of auto insurance – and predominantly for the better.
“Consumers are armed with more information than ever before, thanks in large measure to widespread device ownership and internet access,” Sprinkel explained.
There’s more to coverage than price
It’s important to remember that while affordability is a key component of car insurance, it’s only one of several factors to consider before deciding whether a policy or carrier is the right one. For example, many people often fail to take into consideration what’s included in a plan. In order to get an accurate representation of what it offers, you need to make an apples-to-apples comparison, checking to see what the premiums are for the same or similar types of coverage among competing auto insurers.
Another advantage to shopping online for auto insurance is the discounts you may be eligible for. For instance, instead of using the phone, applications can be completed online from start to finish. You may also be asked to provide your signature, or e-signature to be more precise. Here at Elephant, we offer discounted rates to those who use our online functions. Simply by applying and filling out the online sign-up form, you may be eligible for a discount versus signing up in person or over the phone.
For more information on our discounts and how they can save you money, speak with one of our Elephant Auto Insurance associates.