Is it possible to create an auto insurance revolution?
After reading the comments section of this article, which asked a question about why her premium for home insurance went up, I decided to help. It is at the end of this article.
Although the article states that there are five comments, I only see three of them and it doesn’t show my comment or the other two. Although I didn’t use profanity or attack any company, I did share the statistics that I posted below about who controls the auto insurance market. If there is a comment section, and people aren’t using profanity, attacking someone or questioning something, then it is okay to not post it. It is a private business and company. However, I don’t think it is bad. Why can one woman complain about her home insurance rates going up after she purchased it? I cannot tell the market from the shopping sites that they only show you who pays them or why this woman paid more.
The other night, I was watching the Weather Channel and noticed that two Progressive commercials were on the air during the same commercial. The first commercial claims that they will search for other companies on your behalf, saving you the time and effort of looking at other websites or insurance companies. Progressive’s second commercial claims that you can choose your price. It sounds like Priceline, but it isn’t. These are absurd, but I find it more frustrating that I am watching the commercial with someone who is smart, successful and is buying the product. I wonder how many people are purchasing this junk? Auto insurance is worth $160 billion. Progressive and Geico, a Warren Buffet-owned business, spend more than $700 million on advertising. This has a return of 70%. Many, many people are hearing it and purchasing it. It is impossible to avoid it. Geico sends you mail every week, Progressive advertises constantly and these same advertisers dominate the media. This allows for a simple comment to get censured.
Progressive will give rates from other carriers like Farmers, Allstate, and others. What’s wrong? It is not possible. However, here’s how it works: Progressive will only give you rates from other carriers if you want to be their client. The only exceptions are companies that are more costly than Progressive. Progressive will not take your business if there are too many tickets. They will then find one of the most competitive alternatives. You are missing the fact that there are 20-40 insurance companies per state. Two of those 20-40 are far more competitive than the other 40. They also know that you don’t have the time or the patience to search for the 2 remaining 40.
Progressive doesn’t allow you to choose your price. Do you really want to have less coverage or lose collision coverage in order to lower your rate? All you need to do is choose the right carrier. It would be better to save $400 per year and still have collision coverage, as well as good liability limits. You should first decide what coverage you need before you purchase auto insurance. Then, get quotes to confirm what you want.
There are many other websites that can help you find the best rates. The owner of this site also owns 2insure4less.com. In concept, it is all great and it is a shopping website. A shopping site is fine. However, the likelihood of getting the best deal depends on which company is paying the service. Many of the most affordable carriers aren’t willing to pay for these services.
These companies are getting so much attention that it is amazing, but I have never seen anyone tell the truth, transparency, or educate the public. This is the truth. I can show you how to find the best insurance carrier for your needs in a matter of minutes. You’d know where to look and save money. You will not have the time or ability to make a living if I give it to your for free. This system is not transparent and truthful. It is important to consider what you buy and how it works. Is it possible that a Gecko may be paying more for media than they actually provide? To be a smart consumer, you need to look beyond the obvious.