When People Look to Buy Car Insurance, They Look to Buy Cheap

A recent study reveals that the small percentage of people that look around to buy car insurance, are focusing on one thing.

Do you buy car insurance the same way this new study says people do?

When was the last time you shopped around to buy car insurance? We talk about it all the time here at Car Insurance Guidebook and I was wondering if people actually look around for new car insurance quotes as much as they should.

Well, I got my answer recently, and it was a resounding “NO”.

Princeton Data Source recently released the result of a survey they conducted where they found that over the last 12 months only 21% of the people they surveyed had looked around at new companies to buy car insurance from. So the remaining 79% of people must be really happy with where they buy car insurance from. That or they don’t want to bother with the trouble of looking around for new car insurance.

What People Concentrate on When They Buy Car Insurance

Of the 21% of people that actually shopped around for insurance there was one factor that they concentrated on the most – price. Price accounted for 81% of the reasons for why the switch to buy car insurance from another company was made.

Where People Buy Car Insurance from Now

Per the results of the survey, people are mostly buying insurance over the phone (54%); which really surprised me. I would have thought that most people buy car insurance online now, but there are still some insurance companies out there that don’t allow you to purchase insurance online. To get their insurance, you have to contact them directly or an insurance agent that represents them.

Buying car insurance online, like you can at this link here, did come in at a very close 2nd at 48%. Coming in last was purchasing insurance in person, with only 39% doing so.

How Many Quotes before People Buy Car Insurance

We always say that you need at least 3 insurance quotes when you are shopping around for insurance and people are doing just that. Of those that were shopping around for car insurance 59% of them got 3 or more quotes before they made a decision. There were even those out there that took it a step further with 26% getting 4 or more quotes.

Now do I agree with how people are shopping around for car insurance as seen in this study? Not completely, but people have to do what’s right for them when it comes time to buy car insurance.