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Car insurance rates: Geico vs. Progressive vs. Amica vs. State Farm

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Car insurance rates: Geico vs. Progressive vs. Amica vs. State Farm
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When’s the last time you shopped around for a new auto insurance policy? If you get a renewal in the mail that includes an increase, there’s no time like the present to start shopping!

Clark recommends comparing car insurance prices every three years, but you can do so more often if you’d like.

Read more: 7 things you never knew impacted your car insurance

Save money by switching auto insurers

A lot of people wait until the end of their policy period to do this comparison, but there’s no reason to wait until then – especially if you think you’re paying too much.

If you switch during the middle of a policy term, you can just request a refund from the insurer you’re leaving.

While USAA and Amica have been Clark’s longtime favorites, you may want to compare prices from several other companies identified in our story about the best auto insurers.

Once you do that, it’s time to get quotes online or over the phone — and compare them!

After receiving a bill to renew an existing 6-month Geico policy for $541, I called up Amica, Progressive and State Farm to get quotes for the same coverage. 

Which do you think had the lowest price? Read on to find out! 

State Farm

  • 6-month policy: $634
  • $93 more expensive than existing policy
  • Quote took 13 minutes

Amica

  • 12-month policy: $2,095 ($1,047 for 6 months)
  • $506 more expensive than existing policy
  • Quote took 12 minutes

Progressive

  • 6-month policy: $442
  • $99 less expensive than existing policy
  • Quote took 15 minutes

As you may have noticed, there’s a $605 difference between the most expensive quote and the cheapest one, which was lower than the existing Geico policy.

By switching from Geico to Progressive, I would save $100 for less than an hour’s work!

There are so many factors that impact auto insurance rates, including things that have nothing to do with your driving history: your age, home address and credit score. 

That’s why your quotes from these same insurers could be totally different from mine.  

“It’s a great idea for you to shop around for your auto insurance. The more you shop, truly, the more you save. Based on each individual situation, different insurers are going to treat you differently,” Clark said.

Before calling the insurance companies to do this comparison, have your current policy, driver’s license and your vehicle’s VIN handy to speed up the process. 

Read more: 4 hidden factors that help determine your auto insurance premiums

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Mike Timmermann About the author:
Michael Timmermann paid off his mortgage in two years. Now, he shares his money-saving tips on his blog, Save on Almost Everything.
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