The Auto Channel
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The Largest Independent Automotive Research Resource
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Comparison Shopping is the Best Way to Save on Auto Insurance

5 July 2000

lowestpremium.com offers consumers the broadest shopping experience
     
    SAN 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."