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How Much Do Auto Insurance Consumers Need To Save In Order To Switch Policies?

In June we focused our statistics on auto insurance consumers that switched policies after shopping online at InsWeb. We used the results from an independent study and demonstrated that auto insurance consumers that switched policies after shopping online at InsWeb saved an average of $301 on a 6-month premium.

Using the same study, this month we shift our statistical focus to the consumers that did not switch policies after shopping online at InsWeb. Since "price" is the primary reason that consumers shop for auto insurance in the first place, we asked these consumers how much they needed to save on a 6-month premium in order to switch. Interestingly, consumers that did not switch after shopping online at InsWeb required an average savings of $198 on a 6-month policy.

Savings Required on a 6-Month Auto Insurance Premium for Consumers to Switch Policies After Shopping Online at InsWeb
Under $100
23%
$100 - $199
36%
$200 - $299
21%
$300 - $399
9%
$400 - $499
4%
$500 - More
7%
Average: $198
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How Much Do Auto Insurance Consumers Save When They Switch Policies?

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