Is it cheaper to get insurance quotes over phone or over internet?

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pax4235
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Is it cheaper to get insurance quotes over phone or over internet?

Post by pax4235 » Thu Jul 12, 2018 1:31 pm

I am wondering if there is a difference in obtaining auto/home/renter's insurance quotes over phone, internet or in-person or if the quotes/premiums will all be the same no matter how you contact the insurance company.

Also, I assume the quotes/premiums will be the same no matter what insurance agent from the company you use.

What about getting quotes from outside independent insurance agents? Will this result in cheaper or more expensive quotes than contacting Geico, Statefarm, Progressive, etc. directly??

Does anyone have any insight into this and can shed some light?

Thank you!
Last edited by pax4235 on Thu Jul 12, 2018 1:58 pm, edited 2 times in total.

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munemaker
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Re: Is it cheaper to get insurance quotes over phone or over internet?

Post by munemaker » Thu Jul 12, 2018 1:42 pm

I don't have any experience with comparing insurance quotes by phone vs. by internet, but I would expect that most things, maybe all things, are cheaper when you can eliminate humans from the equation.

Look at these brokerage houses...they have very low rates for online transactions, and much higher rates for person-assisted transactions.

I am pretty confident online will be lower. When people are involved, someone is getting spiff that you are paying for.

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Pajamas
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Re: Is it cheaper to get insurance quotes over phone or over internet?

Post by Pajamas » Thu Jul 12, 2018 1:42 pm

If you get them over the internet you should create an email address just for that purpose to avoid spam in the future.

Can't answer any of your actual questions, sorry.

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PrettyCoolWorkshop
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Re: Is it cheaper to get insurance quotes over phone or over internet?

Post by PrettyCoolWorkshop » Thu Jul 12, 2018 1:49 pm

In my one experience buying car insurance, I got a much lower rate with the one company I called by phone. I ended up going with them. They were a smaller local company, and my wife who I was covering was a new driver, so there was a lot of variance between different companies.

Because the insurance companies know that the online interface is more convenient (and has other differences, such as target demographic skewing younger, etc.) than the phone interface, they likely have done A/B testing to find out how price sensitive each customer group is. I can imagine that this A/B testing lead them to realize that online insurance shoppers are less price sensitive than phone call shoppers, and they therefore raised their online rates to take advantage.

I am very skeptical of any data I know actuaries have their hands on. Each little bit is another source of profit/ price discrimination in their eyes (and rightly so for their industry).
Be greedy and fearful. All the time.

drawpoker
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Re: Is it cheaper to get insurance quotes over phone or over internet?

Post by drawpoker » Thu Jul 12, 2018 2:01 pm

Using the phone can sometimes save you from wasting time over the internet.
For ex, I inputed all the info about my house, sq. footage, type of construction, etc to get a online quote from Allstate.
The result came back so ridiculously high (per foot cost of rebuilding) - tried to go back and manually change the dollar amount. It wouldn't let me, a popup would tell me this field has fixed amounts, cannot be altered.
Yeah, and their pre-fixed per foot amount was about 60% higher than actual cost for our (non-urban) area.
I ended up using an indep brokers office. But even this has quirks of its own.
Asked for a quote from one company that sounded promising, agent replied "we can write homeowners, but not auto for them". Thereby negating the discount of bundling multiple policies.
However, after some time, the agent came up with a small (but AABest -rated "A" ) company I never heard of (Brethren) that saved me around $140 a year on h.o., only a couple bucks on the auto, compared to what I had been paying for same coverage on both (with Cincinnati)

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