Search
 
Research

Are most Americans missing out on auto insurance savings?

Despite nearly half of drivers thinking they pay too much for coverage, a survey found that most fail to shop around for better rates.

Forty-nine percent of respondents said they think they pay too much for auto insurance, according to an Expertise.com survey. (Photo: Shutterstock)

Although Americans nationwide saw reduced auto insurance rates amidst a drop in driving activity at the height of COVID-19 lockdowns, nearly half of drivers believe they are paying too much for car insurance, according to a recent survey from Expertise.com.

The professional services research and resource company found through its survey of 1,000 American adults that drivers pay an average of  $215 a month for auto insurance, with the median amount at $133. The survey also revealed generational differences in auto insurance costs, with Gen Z paying double, on average, compared to baby boomers and older.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Heather A. Turner

Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

More from this author

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.