Competitive Auto Insurance Market Beneficial to Consumers

    RANCHO CUCAMONGA, CA, June 10, 2010 /24-7PressRelease/ -- Motorists must be aware that every state allows insurers to determine the rates that they will charge for automobile coverage as long as they are seen as fair and approved by the state's insurance regulator. Consumers should take advantage of the fact that carriers must compete against one another in order to keep and obtain policyholder.

Competition amongst insurers can be extremely beneficial to motorists who need to keep premiums affordable due to the fact that carriers have to keep pricing competitive in order to acquire new customers. Prior to 2008, Massachusetts set the rates that insurers can charge, but now allows insurers to set their own rates and compete for business. According to the Massachusetts Consumer Affairs and Business Regulation, "Massachusetts consumers saved over $270 million in insurance premiums in the first year of managed competition."

Source: http://tinyurl.com/2w396xg

With competition, a car insurance comparison has the potential to help save motorists hundreds of dollars a year on their policies by allowing them to see which companies will give them a cheaper rate and which are simply unaffordable. Comparing rates will set certain insurers apart from another and motorists will quickly come to realize that premiums can vary significantly with each insurer.

Motorists can also take advantage of online resources to assist them in locating competitively priced insurers. By visiting http://www.onlineautoinsurance.com/compare/ consumers will be able to obtain and compare the quotes of some of the most competitive companies in the industry to help find the best rates.

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