America's best drivers are missing out on saving $416.52 per year by not shopping around for car insurance, according to a new report from NerdWallet.
To determine the amount of savings drivers miss out on by not shopping around for car insurance, NerdWallet compared two sets of rates: the three cheapest annual car insurance rates in each state among large insurers, and the average annual rates among all large insurers in the state, within which rates were weighted according to each insurer's market share in that state.
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In the “2017 Driving in America Report: The Costs and Risks,” Harris Poll conducted an online survey of 2,072 U.S. adults ages 18 and older. According to the survey, 38% of Americans who have car insurance haven't checked the price, or compared costs, of their current car insurance in at least three years — or ever. Another 21% haven't checked in at least three years, and 17% haven't checked at all.
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