You’d Better Shop Around

As it turns out, there’s a good reason the airwaves are so densely populated with car insurance ads that beckon drivers to switch carriers. According to a recent survey conducted by insuranceQuotes.com in San Francisco, California, the average U.S. driver has not changed insurance companies in 12 years, with about a quarter of them staying with the same carrier for more than 16 years. Thirty percent of drivers say they compare quotes every few years, while a stunning 36 percent never bother to look for the best rates. The survey also found that Millennials and senior citizens are the least likely among all demographic groups to shop around for auto insurance. “Many people make the mistake of shopping only when they move or buy a new car, but data shows that rates fluctuate even when you haven’t had any major life changes,” says Laura Adams, insuranceQuotes.com’s senior analyst. “If you haven’t shopped for auto insurance since the ‘90s, it’s probably safe to say that you’re not getting the best deal.”