A survey by insuranceQuotes finds 39%of drivers in the U.S. have never shopped around to find cheaper auto insurance.
State Insurance Commissioner Jim Donelon says looking for the best policies and rates is a great idea given that auto insurance prices are on the rise.
“Rates have spiked in recent times due to two factors, one is cheap gas and the other is something we see every day, distracted drivers on cell phones.”
Donelon says an easy way for drivers to save money on auto insurance is to increase your deductible or lower your coverage limits. He says this is considered self-insuring and taking as much risk as a motorist can reasonably afford.
“I advise consumers to do that but not to the point of putting themselves in harm’s way for an economic burden that they truly cannot afford in the event of a calamity.”
The survey also finds over half of drivers haven’t switched auto insurance companies in at least eight years and 6% of motorists have stuck with the same provider for over 30 years. Donelon says there is a comparison rate guide on the department of insurance’s website to view different policies.
“We think it’s very helpful, best information we have available is put there an upgraded on a periodic basis. WWW.LDI.LA.Gov.”