A recent survey completed by an online extension of a California based auto insurance brokerage, found that an overwhelming majority of consumers are under a false sense of comfort based on a misunderstanding of their current auto insurance coverage.

100 consumers were interviewed about their understanding of what their current auto insurance policy would cover in case of an at fault automobile accident.

Interview results indicated that 82% of consumers who believed to have “full coverage” auto insurance were under the false impression that in case of an at fault accident, their policy would provide coverage for all medical injuries and vehicle damages sustained by both parties involved in the accident.
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When one is looking for auto insurance, they are keeping a few things in mind. One, of course, is price. Most consumers are aware of the fact that two insurance companies offering the same exact coverage can charge different rates.

With that in mind, how do you find the cheapest company out there? The reality is that there isn’t one carrier out there that offers the cheapest rates. The key is to find out which company will offer you the cheapest rates.

One of the benefits of shopping for auto insurance through a broker is that most brokers are able to offer you the rates of many different carriers according to your particular category. Car insurance brokers have software allowing them input the driver and vehicle information and instantly receive the rates of all their represented companies. Most brokers represent over a dozen carriers.
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If you’re looking to get car insurance quotes from different insurance companies, you’re on track for major savings. Most state’s government websites even suggest that you shop around for different rates so that you may find a low rate.

The reason it is so beneficial to obtain multiple quotes is because there isn’t one single company out there who will be the cheapest for everyone. Each company has its own desired types of customers; therefore, their way to let you know they want you to be their customer is by providing you with a low rate. In the other hand, if an auto insurance company does not want to insure you, they will quote you a high rate which most likely will send you off searching elsewhere.
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