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Can You Really Save With Online Auto Insurance Quotes?
The promise is simple-a short while could save you a lot of money on insurance, but is there any truth to the promise? Can obtaining a quote online really save you money, can it decrease the hassle of shopping for insurance, and if so, what's the catch? I decided it had been time to learn.

Among the first companies to market insurance online was Esurance. Launched in 1999, they offered auto insurance to a somewhat timid Internet audience. In the past people had lots of concerns about purchase transactions and the risk of credit theft online. Surprisingly, Additional info took off. They were acquired just a year later, and in line with the website Metrics, reached Internet sales of more than $350 million by 2005.

What helped them overcome the buyer concerns was that they helped customers see through the pain of calling or likely to see insurance agents, something some people would put on par with likely to visit a dentist. Soon traditional insurance companies jumped in the fray, and the insurance business hasn't been the same since. Today the number of online quotes generated numbers in the tens of millions annually.

THE BENEFITS

What advantage does online quoting offer you? I've identified three key advantages to online quoting. The first is convenience. Rather than calling an insurance company or visiting an agent's office, you can get a quote from the convenience of your own home... or office... or with a smartphone, the capability of being just about anywhere. You may get a quote anytime of day or night. For many, this is truly a great benefit.

The second benefit is the ability of receiving quotes from multiple companies. Once you call traditional insurance firms like Allstate and Nationwide, you will discover out what your insurance cost will undoubtedly be from them only. When you call a multiple quote service, such as Progressive, QuoteHero, or The General, they actually quote multiple companies. Progressive quotes "a handful of companies", w here as companies like QuoteHero access more than 25 insurance carriers.

The third benefit is that it's fast. Geico says, "Quarter-hour can save you fifteen percent." My experience is that 15 minutes is a long time. I tested several companies, and found I received quotes as fast as just a couple of minutes.

THE DRAWBACKS

There are some downsides to online quoting. One which I find little discussion of may be the quality of the quote you receive. Why is that certain thing you quit is having an insurance professional working with you.

This can lead to errors, mostly by you. In the event that you ask for the incorrect coverage, you'll get a quote for the wrong coverage. Also, you need to be sure the quotes you receive are "apples to apples" and quoting identical coverage. Changes or additions can impact pricing.

This drawback is not as bad as it might seem, as most of the online services now offer toll free assistance. When you have questions about coverage, state minimums, or items that can affect your rates, it is possible to reach a live person in the event that you desire by making a phone call.

The second drawback, and huge one in my opinion, is that some online services will actually sell your name and contact information to local insurance agents. This results in a bombardment of phones calls hoping to make you "sign the dotted line" using them right away.

In doing research because of this article, I had the knowledge that I started to receive phone calls just moments after I received my quotes. Five different agent and companies contacted me during the next few days. One local agent still calls me and emails me months later!

Upon close inspection, research showed that one site I came across had the next in terms and conditions: "By clicking "Get Quotes!" I provide my signature, expressly authorizing telemarketing calls from up to eight insurance companies or their agents or partner companies".

The website Consumerist.com features articles supposedly compiled by a former insurance telemarketer. She tells the website they paid $8 per hot lead. She also volunteered that their phone efforts were far more effective than email or mail, which is a big reason you get bombarded with calls right away, while the lead is hot. While I cannot vouch for the web site or the author's authenticity, it sounds in-line with what I experienced.

TIPS FOR SAVING

First off, not absolutely all companies sell you name. One I came across, QuoteHero.com, expressly states they don't really sell your name. Actually, for some policies you do not even have to supply any personal information! That is clearly a big deal for me, drastically reducing the harassment factor.

Next, if you have it, get a copy of one's existing policy, and be sure you know want sort of coverage you need. Should you be driving a mature car, you may be looking for the minimum coverage a state requires. Alternatively, for anyone who is older, have a lot of assets or an expensive car, ensure you are covered appropriately.

And finally, be sure to get numerous quotes. In a recently available article, U.S. News & World Report recommended to readers to shop their auto insurance annually, and that online was a good way to do this "in minutes". Edmunds.com concurs, stating, "by doing some comparison shopping, you could save a huge selection of dollars per year." In research done recently, tests round the country indicated the common person's savings to be just over 30% when factoring the difference between the high and low quotes!

Is it possible to save with online quotes? Yes, I did so. But compare multiple carriers, and be careful to read the fine print to make sure the insurance company isn't only going to sell your name to the best bidder!
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