Most drivers assume every car insurance company looks at the same information and lands on roughly the same price. They don't. And the company you've trusted for years could be one of the worst offenders in your ZIP code.
Mike had been with the same insurer for six years. No tickets, no claims, and his rate still went up at every renewal. "I figured that's just what insurance costs," he said.
Then a coworker told him she'd cut her premium in half just by comparing rates. Mike entered his ZIP code on BindRight during his lunch break, and in about two minutes he was looking at rates from other insurers for the exact same coverage.
His old 6-month premium was $1,134. His new one is $234. "Six years of loyalty, and they were charging me almost five times what another company would," he said.
Enter your ZIP code on BindRight to see what other insurers would charge you for the same coverage. It's free, it takes about 2 minutes, and there's no obligation.
Why Drivers in Some ZIP Codes Pay So Much More
Every insurer uses its own formula. Your ZIP code, driving history, age, vehicle, mileage, prior coverage and claims history all go into it, and each company weighs those factors differently.
The result? The exact same driver can get wildly different rates from different companies. The insurer that's cheapest for your neighbor across town can be the most expensive one for you. That's why the only way to find out if you're overpaying is to compare rates in your ZIP code.
Loyal drivers usually get hit the hardest. Many insurers raise rates a little at every renewal, betting you won't shop around. When drivers compare through BindRight, many are shocked to find another insurer offering a much lower rate for the same coverage.
Why Now
Rates have climbed for years, and many insurers raise prices again at renewal. Every month you wait is another month of paying more than you have to.
Consumer Reports advises drivers to compare quotes before buying or renewing car insurance. "By shopping periodically, you have the potential to save with your current carrier, or with a new insurer that's just as good or better."
