It Pays to Shop Around…

June 1, 2006 at 5:25 pm 4 comments

I have been a loyal customer with my current auto insurance company for the past 7 years. My car insurance would expire soon. The premium for the next 6 months is about $100 higher than before, just because I moved to another zip code (which is only 4 miles from the old one).

I decided to look around and see if I could get a better deal elsewhere. Since I wanted to be prepare, I googled for tips on finding the best car insurance and found many helpful sites ( such as this one here.)

First, I called  GEICO. Their customer representative was very friendly and the whole process only took about 10 minutes. However, their quote is $300 higher than the current premium. The customer representative told me that my current premium is really cheap and it would be hard to beat.

However, since I like doing my researches online, I proceed to gathering quotes from  Progressive  and two internet auto insurance brokers (  Insweb and Insure.)

Progressive quoted $30 more. Considering its name recognition, I thought that was a very good price.

Insweb found 2 insurance companies but both are $400 more.

Insure found 7 companies, only Esurance's quote is lower than my current premium (by $70). However, the review on the web for Esurance is not so good. Esurance was noted for the ease of signing up and easy web navigation but there were many rants on Esurance regarding it's poor customer service and claim process (which is the most important thing when accident happen).

I called the current company and raised the deductible to $1000 (from $500), which in turned, reduced the current premium by $50. For the same coverage, premium from the current company would be $20 more than Esurance. But because I feel this company been pretty good while I have no experience with Esurance, I decided to stay with the current company.

In the end, I did not find a better deal elsewhere but I did feel much better knowing my insurance rate is very reasonable.


Entry filed under: Expenses.

Cingular Contract and New Phones Private Annuity Trust

4 Comments Add your own

  • 1. djbabylon  |  June 2, 2006 at 10:38 am

    so whats ur current insurance co? šŸ˜›

  • 2. Danny  |  June 2, 2006 at 3:10 pm

    do you know if you get family discount? between you, your brother, and your parents, there are at least 3 cars right?

    also, since work provides health insurance, did look to have that taken out?

    last but not least, looked into how much it cost to have low-jack installed and how much insurance it’ll lower? after all, Accord is one of the most stolen viechle out there…

    Also keep in mind that many insurance rates are mileage based, so your commute doesn’t help šŸ˜›

  • 3. MoneyBabble  |  June 2, 2006 at 3:50 pm

    We’re getting a family discount right now.

    You mean to not buy health insurance?

    How much does low-jack usually cost?

    Yeah, I asked carpool discount but they say I drive too much.

  • 4. How to Find a Home and Auto Insurance « Money Babble  |  November 16, 2006 at 2:57 am

    […] IĀ previously dicussedĀ home insurance here. Since my auto insurance due soon as well, I spent theĀ last couple weeks looking for a multi-policies insurance to cover home and auto (supposely you get greater discount if you combine them).Ā  After much searching, I settled with Farmers Insurance because they gave the lowest premium for all the coverages I wantedĀ and the agent was friendly and answered my questions. […]


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