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Taking time to shop for automobile insurance can lead to savings

CLEVELAND, Ohio — Buying car insurance isn’t the kind of shopping that most people get excited about. In fact, many people stick with the same insurer for decades. But taking the time to shop around could save you hundreds of dollars a year — and who couldn’t use the extra cash these days?
While Ohio has some of the most affordable car insurance rates in the country, average prices continue to creep up across the nation. The average Ohio customer paid $654 a year in 2008, only about 1 percent more than the year before, according to the most recent data available from Ohio Department of Insurance. That compared to $817 nationwide.
“We’re lucky that our rates are going up a little bit less than everyone else’s. We have a really good marketplace for insurance here in Ohio,” said Jarrett Dunbar, a spokesman for the Ohio Department of Insurance. “We have hundreds of companies competing for everybody’s business, and competition breeds lower prices.” Robert Hunter, insurance director for the Consumer Federation of America, says customers should take advantage of that by shopping around for the best rates at least every two to three years. He said often one insurance company will quote you a rate that is half that of another. Sticking with an insurer who doesn’t have the best rate can cost thousands of dollars in the long run.
Before you start shopping for auto insurance — or any kind of insurance — Hunter recommends taking advantage of comparison information available from the Department of Insurance. Companies that sell car insurance in Ohio are required to submit information to the state about how much they charge customers based on different consumer profiles. Beyond price, customers can also use the site to compare the customer service records of the companies by looking at the ratio of customer complaints filed against them, compared to the total number of customers

This entry was posted on Wednesday, June 30th, 2010 at 3:01 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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