UPDATED: Feb 25, 2020
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LowerMyBills.com (an Experian company) recently released the following results of an online study conducted in September of this year:
- 79 percent of consumers believe they are paying too much for auto insurance.
- 54 percent of consumers have tried to reduce their auto insurance premiums.
- 17 percent of consumers never re-evaluate their auto insurance coverage.
Another interesting finding was that nearly 40 percent of respondents indicated they do not consider auto insurance premiums a major factor when purchasing a new vehicle.
My question is if 79 percent of consumers believe they are paying too much for auto insurance, does that mean 21 percent of consumers are happy with their auto insurance premiums? Please say it isn’t so.