Comparison Shopping is the Best Way to Save on Auto Insurance
5 July 2000
lowestpremium.com offers consumers the broadest shopping experienceSAN FRANCISCO - Prices for auto insurance coverage can vary by hundreds of dollars from company to company, so it pays to shop around, cites the Insurance Information Institute, the primary source of information on property/casualty insurance, based in New York. The Institute's web site ranks comparison shopping as the number one way to save money on your auto insurance. Shopping for auto insurance is exactly what the people at lowestpremium.com want consumers to do. Mark Folk, lowestpremium.com chief executive officer and a former senior executive of one of the nation's largest auto insurers, said, "It's time that we as an industry take the mystery out of insurance shopping. Not only do we believe that consumers must shop for auto insurance, they'll be rewarded by finding huge savings." lowestpremium.com is an eMarketplace for auto insurance shopping, offering the broadest access to the lowest auto insurance prices by providing consumers with up to 10 quotes via their web site or a toll-free number. Folk continued, "People will go across town to save a few dollars on groceries, but most people never shop for auto insurance. Most don't know how to, or consider the process too time consuming for the savings they think they might get." Folk said, "The savings alone should drive even the most reluctant shopper to lowestpremium.com . Nearly 70 percent of people who visit the lowestpremium.com web site discover savings over their current policy, an average savings of over 30 percent -- or nearly $500 per year." The time savings are there for consumers as well. In just a few minutes, a consumer can log on to the lowestpremium.com web site, complete a short questionnaire, and instantly receive 10 quotes on their auto policy. Lowestpremium.com differs from insurance companies and other direct providers who offer insurance online because it offers consumers the opportunity to view quotes from many companies and to seamlessly transfer the data they provided to an agent, if they desire. Folk explained, "lowestpremium.com is to the auto insurance shopper what Travelocity or Expedia is to the traveler. Because we are not an insurance company, people can shop at our web site and be assured that we've searched the market for the lowest prices on auto insurance." "Turning to lowestpremium.com certainly adds speed and ease to an otherwise difficult process," said Folk, "but most importantly, we save people hundreds of dollars each year. So if consumers really want to comparison shop, they have to visit lowestpremium.com. We give them the power to pay less."