Why the Lowest Car Insurance Rate Isn’t the Whole Story

May 16

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In most cases, the lowest car insurance rate isn’t comparable or a fair comparison. In a lot of situations, firms differ highly, and these days, with competition as stiff as it is, firms are added all sorts of value added services to accompany their products. Like card issuers throw in all sorts of sort of fringe benefits, so are insurers. For instance, you might think one insurer has the lowest car insurance rate for a particular sort of insurance product that you’re eying, only to find that another insurer is offering the same product, a slightly higher price, but all of their customers are given a free AAA membership, which would put the value of that firm’s offer over the top of the other. So, comparisons have to be done holistically. And when a comparison is done, it’s almost entirely subjective. What one consumer will be swayed to one firm by won’t be the case with another consumer.

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