Auto Insurance Providers Pricing - Do Auto Insurance Providers do Price Matching?
The Truth About Auto Insurance Providers
Q: I see price matches offered by retailers all the time, but never see auto insurance providers offer this type of guarantee. Do any car insurance companies offer this type of service?
A: Price match guarantees are not usually seen from auto insurance providers, however that is not a definitive answer as programs come and go fairly frequently in the auto insurance industry.
Typically price match guarantees in retail stores are only good for the exact same product that was seen at a lower price elsewhere.
Since auto insurance is tailored specifically for each driver it would be difficult to say that another company offered you a lower price so company X should match it.
The other difficulty that would exist in this type of program is that insurance companies offer such a wide variety of products that it would not be possible to compare one to the other in many cases.
The last, and most convincing, reason auto insurance providers are unlikely to offer a price match program is that it would cost them revenue. Insurance is a very competitive business and a huge company would be happy to absorb a small loss per policy to attract thousands of new customers. This would put the smaller companies out of business.
This would actually make premiums more expensive in the long run. For now we think auto insurance companies will maintain the status quo.
If you want to save money on your car insurance, we highly recommend that you shop around online and compare quotes from a variety of companies. This will ensure that you have the best coverage possible at the lowest price.
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