The majority of consumers would need to save $50 per month on their auto insurance policies before considering switching companies, according to an Einsteinsurance.com survey.
Some of the results include:
|- Respondents 18 to 24 years old reported the highest sensitivity to monthly cost, with 49 percent willing to change providers for a savings of $10 to $40.
- Thirteen percent of 18- to 24-year-old respondents would switch for a savings of $10 a month. Only 4 percent of respondents who are 65 years old or older would do the same.
- When grouping stats based on the gender of respondents, there is not a large difference. Sixty-two percent of men would switch providers for a savings of $50 per month, as would 61 percent of women. Gender breakdowns for $10 to $40 in savings did not vary by more than three percentage points.
Einsteininsurance.com features consumer auto insurance information and market data. The company asked a random sample of 1,000 Internet users how much money they would need to save on their insurance in order to be compelled to switch companies. Responses were collected in October 2012 and came from a wide range of consumers of all ages and income levels.
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