Auto Insurance Quotes on the Rise after Study Shows Significant Increase in Financial Turmoil More Americans are fighting back the economic recession by using the Internet to find better rates for auto insurance.
News-Antique.com - Mar 04,2009 - Jim Musselwhite
Co-Founder & Partner
Quote Network LLC
More Americans are fighting back the economic recession by using the Internet to find better rates for auto insurance.
Lexington, Kentucky – March 5th, 2009: Recent studies suggest that families will be much better off during the financial recession if they obtain online auto insurance quotes to lower their monthly bills.
It is no secret that online behaviour has come to reflect American interests or concerns. The recent economic downturn has only heightened this behaviour. Indeed, results of a recent (December 2008) study from comScore Marketer, an online research organization, revealed that online search volume using terms relating to the economy has ballooned over the past year as Americans have become increasingly concerned over their economic wellbeing.
Since the vast majority of Americans drive an automobile, these studies suggest that families will be much better off during the financial recession if they obtain auto insurance quotes before the state of the economy decreases further.
The internet has become an important factor in the auto insurance industry in recent years, with consumers requesting more than 100 million auto insurance rate quotes between 2004 and 2007, comScore said. Consumers originally turned to the internet to educate themselves about auto insurance and compare prices; beginning in 2006, however, there was a shift in consumer behaviour, resulting in an increase in online purchases of policies, comScore said.
A 2008 comScore study found that consumers were increasingly turning to the internet to research auto insurance options, obtain rate quotes and purchase policies. The study found that the number of search-referred quotes grew to 8.9 million in 2007, a 36-percent increase versus the previous year. This is particularly impressive when compared to the 15-percent overall growth in the number of online auto insurance quotes requested in 2007.
"People are using the Internet to find better rates for auto insurance to help balance out the high cost of driving" says Carl Lammers, a former insurance executive and cofounder of SaveTodayAutoInsurance.com "Shopping online is an easy way for people to learn their auto insurance options quickly. By comparing quotes, people can save hundreds of dollars"
According to a recent study, auto insurance shoppers agree with Lammers and more and more are heading to the Internet to get quotes. “The 2008 Online Automobile Insurance Report" from comScore, shows an increasing number of people are researching auto insurance online. Additionally, the number of people purchasing their auto insurance policy via the Internet has increased as well. According to the study, in 2007 over 2 million people switched auto insurance after receiving an online quote.”
Lexington based firm Quote Network LLC aims is to assist consumers in selecting the best possible auto insurance policy at the lowest possible price. Trends in the market point toward families with low savings rates, recent job lay-offs, new car buyers, those who have recently had an accident and parents of children who have recently passed their driving test.