Every Auto Insurer claims to save you hundreds of dollars on Car Insurance
On every commercial, billboard, and banner ad, every auto insurer claims to be able to save you hundreds of dollars on car insurance. Shouldn't the advertising agencies for these car insurers be challenged to come up with something more novel and unique as a value-added reason for switching instead of just price.Here are some highlights of savings from the major insurers Home Pages of their web sites:
- Allstate - the average customer saved $348 per year by switching to Allstate
- State Farm - Save $489 when you switch to State Farm
- GEICO - You can save 15% or more on car insurance by switching to GEICO (at least they did a percentage instead of dollars)
- Nationwide - Save up to $43 per month (They mix it up and do the savings on a monthly basis instead of annually)
- Progressive Insurance - You could save $550 on your car insurance!
- USAA Insurance - Members save an average of $461 per year
- Liberty Mutual - See how much money you can save on car insurance (a challenge to see what you can save)
- Farmers Insurance - See how much money you can save on car insurance (a challenge to see what you can save)
- Travelers Insurance - Join the thousands connecting with Travelers and save an average of $453* on your auto insurance.
- eSurance - Compare Quotes and save an average of $808 on your auto insurance
- Insurance.com - (Finally a company that has a different message from a broker) Let our 13 carriers compete for your business. (Taking same approach as Lending Tree - when banks compete you win.)
Here is what I have learned from this quick review of Car Insurance Web sites.
1) It must be pretty easy to be an advertising agency for Car Insurance companies. Just pick a number and claim that this company will save you that amount be switching to them. I am curious if this messaging is driven by in-house marketing teams of the auto insurance companies' advertising agency of record.
2) More and more insurance companies are adding iPhone applications. Can someone please challenge the status quo and automate the proof of insurance card on an iPhone. This get used way more than an application for recording accidents. No more tearing out the perforated cards and swapping them out of my wallet or glove box every six months. If we can do electronic signatures I think we should be able to handle this.
3) If I kept switching from my current Auto Insurance policy over and over again then I would be getting paid $1,289 every month to have car insurance since everyone can keep savng me money every time a switch.
4) I can see why personal lines insurance is considered such a commodity and all about cost and price.
5) Why can't insurance companies come up with a more exclusive policy / service approach for wealthier individuals. This would be similar to what some primary care physicians are doing and limiting the number of patients and promising outstanding service to them. Maybe because you rarely have to use your insurance. But if you can cross sell / upsell them on homeowners, umbrella policies, life, and potentially business / key man insurance then customers would feel more loyal. Also I find that few insurance agents actually follow up with their clients every year to see if anything has changed in their life to see if their policies need to be changed.
