Why would anyone pay more than the lowest price for auto insurance?

In my last blog post, I explained auto insurance is not priced like a commodity, with low profit margins for auto insurance companies, as each company competes to offer the lowest price and under-cut the competition. In reality, the thorough auto insurance shopper can save a lot of money by shopping with all the major companies, and find a reputable company charging a lot less than other companies for the same coverage. Continue reading

Is Auto Insurance Soon to be Priced Like a Commodity?

When it comes to getting people to switch their auto insurance, the biggest factor influencing most consumers is the price. But is auto insurance a commodity product, like buying gas for your car, where the auto insurance offered by one company, is the same as the auto insurance offered by any other company, with the only difference being the price each company charges for its coverage? Continue reading

Insurance Zebra, Ratekick Reviews : Which Websites Provide Accurate Auto Insurance Quotes from Multiple Companies in the USA?

Its hardly news to point out the Internet has revolutionized business in the 21st century. Thanks to the Web, consumers have more information than ever to make smarter buying decisions. Websites like Travelocity, Expedia, Priceline and Kayak have changed the travel business, and put many travel agents out of business. But where is the Kayak of auto insurance, helping consumers find the best deals and lowest rates to insure their cars & trucks?

At least two websites are attempting to provide consumers with auto insurance quotes online from multiple companies, without the consumer having to disclose specific personal information, like names, social security numbers or vehicle identification numbers. I’ve looked at both Insurance Zebra and Ratekick, and although I’m impressed with each site’s design and ease of use, it’s not possible for them to give even approximately accurate auto insurance quotes to consumers anonymously through their websites.

The best way to get auto insurance quotes online is to go to each auto insurance company’s website (and include an online independent insurance agency operating in your state, if available) and provide your personal information as requested. This blog post will review Insurance Zebra and Ratekick, and explain why they are a far cry from being the Expedia of auto insurance. Continue reading

New York Home Insurance Reviews 2014: 20 Major Companies & Their Three-Year Complaint Ratings

The home you own is most people’s biggest investment, so you want to make sure you protect it properly, by choosing the right coverage with a good homeowners insurance company, having a reputation for acceptable customer service, and a consistent history of maintaining a better than average complaint record each year. To accomplish this goal, you need to know the major companies offering home insurance in your state and their complaint information. This review will show you twenty major insurance companies insuring residential property in New York, and each company’s complaint ratings, based on home (homeowners/condo/renters/mobile home) insurance complaints filed with the New York insurance department for the last 3 years of 2010, 2011, 2012, & 2013. Continue reading

Who Needs Life Insurance? Do You Really Need Life Insurance?

Who Needs Life Insurance? Do You Really Need Life Insurance? As I previously wrote about in my blog post, When is the best time to buy life insurance? The best time to buy life insurance is when you need it. If you need it, the best time to buy it is now. It’s human nature to procrastinate. You may get a term life insurance quote estimated to cost $35 a month for a $500,000 death benefit. But you may say to yourself, “I’ll wait until next year, when my car is paid off and I have more room in my budget to buy life insurance. I’m healthy now, and my agent says it will cost about the same if I buy it next year, so if I wait a year or two, I can save $420 a year by putting it off.” Some people use this type of thinking to keep avoiding buying the life insurance they need, until its too late. Continue reading