Lee Romanov is the founder and president of The InsuranceHotline.com, since 1994.
InsuranceHotline.com provides a rate comparison service for auto, home, life and commercial insurance via the internet, now processing over 3,000 quotes a day, internationally.
Get Instant Auto & Car Insurance Quotes here.
We asked more than 5,000 people how much they thought rates could differ between insurance companies for the same driver and same car. Here’s what we found out:
Selection - Based on 5,351 replies:
They are all the same 549 (10%)
Between $100 to $500 2,465 (46%)
Between $500 to $2,500 2,022 (38%)
Between $2,500 to $10,000 248 (5%)
Over $10,000 67 (1%)
Most drivers think there are rate differences of about $100 to $500 between insurance companies. About 10% thought that there was no difference at all! In reality, there can be more than a $10,000 difference in rates.
So, who’s the best rate-slinger in town?
Take a look at this rate comparison of 51 different insurance companies, using four different driving profiles.
Toronto Driver Profiles Lowest Highest Difference
19 Years-Old, Clean Record $5,750 $15,551 $9,801
23 Yr-Old, 1 Ticket & Accident $2,051 $17,468 $15,417
2 Drivers -Old, Clean Record $1,763 $6,992 $5,229
70 Years-Old, Clean Record $970 $2,576 $1,606
Resource: Ontario Government, www.fsco.gov.on.ca
Using the highest and lowest rate found, there is a difference of more than $15,000 depending on your profile! But rest easy: If you visit sites like InsuranceHotline.com, you won’t have to dual with any high-faulting’ rates.
Take on Rascally Rates!
- Related Videos
- Related Articles
- Ask / Related Q&A
- Insurance: Auto Insurance - Getting it Online!
- Choosing the Right Auto Insurance for You- How to Compare Auto Insurance Quotes?
- California Life Insurance Auto Home Car Insurance Quote California Ca
- Reducing Florida Auto Insurance Costs
- Tips for Getting the Best Auto Insurance Rate Possible
- Auto Insurance Accident in Colorado
- Auto Insurance Quote in Kentucky
- 10 Beneficial Tips for Obtaining the Appropriate Auto Insurance Policy
How to Get Your Credit Score – credit score
By: Danny | 24/11/2009A credit score can be defined as a numerical expression that is based on the statistical analysis of the credit files of an individual. The credit bureaus source the score credit on the basis of the respective credit information. It is necessary to check the updates in the score regularly so that one can correct any issues in case any change arises.
How to Save on Energy Bills During the Summer
By: Terry Mitchell | 24/11/2009Saving money is on everyone`s mind at the moment and with summer heat rapidly approaching, you`re probably wondering how you can cut back on your energy bills. The warmer months are an excellent time to go bare bones with your electricity since you won`t need to be heating the house and less energy needs to be expended in general.
Understanding My Adjustable Rate Mortgage
By: Paul Wise | 24/11/2009A description of Adjustable Rate Mortgages and what is the best option for you.
How to Make Money as a Mystery Shopper
By: Terry Mitchell | 24/11/2009Chances are you`ve heard about these people, mystery shoppers, who get paid to do things like eat in fancy restaurants and buy things at nice stores. And, chances are, you`ve wondered how you can get a gig like that. This article will explain everything you need to know about mystery shopping.
On Identity Theft: Resolution Thru Communication
By: Tony Francis | 24/11/2009Your sensitive identification details must always be kept safe and secure. The Federal Trade Commission reports an average of 10 million Americans suffer from the effects of identity theft in a year. The fact is, most of the thieves have a close contact with the victim. This means that there...
Discerning the Criminal Mind
By: Tony Francis | 24/11/2009What is at stake when somebody steals sensitive information and uses it for exploitation for financial gains? Suddenly, someone else is using your name and your credit card. What can they do? How fast can a thief move to take advantage of the time? How far can one go in dire...
Clearance 101: Solutions For Identity Theft
By: Tony Francis | 24/11/2009Identity theft can ruin your name in the eyes of credit companies. By law and in the midst of the society, you can become bankrupt in a few hours if you do not act now. The worst case can ensue if you are not suspecting enough and take no notice...
Compare Auto Insurance Quotes - Easiest Way To Make It Happen
By: Craig Realton | 24/11/2009This was when I decided to opt for options that I haven't tried yet before.I went ahead and decided to find a local agent in my area for quotes.
Don’t Let the Fear of Higher Insurance Rates Put the Brakes on your Dreams!
By: Lee Romanov | 08/10/2007 | InsuranceIn your wildest, most fantastic dreams, could you ever have imagined that what you’re currently paying for car insurance could land you a new car? Read on.
Claims & your Insurance Rate
By: Lee Romanov | 07/10/2007 | InsuranceAny reported accident, even if there was no damage at all, stays on your insurance record for six long years, seriously impacting your insurance rates.
Home Buyers Essential Guide to Home Insurance
By: Lee Romanov | 07/10/2007 | InsuranceBuying a new home can be an exciting and stressful experience. The problem is that many of us don’t truly understand how a homeowners insurance policy works and exactly what our insurance policy will cover should a disaster strike. Rest assured, the home buyers essential guide will outline the facts you need to know about insuring your home.
Changing Insurance Companies
By: Lee Romanov | 06/10/2007 | FinanceDon’t hesitate moving to another insurance company for a better rate, there is NO risk in switching companies to save money. That’s why insurance companies lower their rates, to attract new business, so don’t be afraid to take advantage of it.
Showdown at Car Insurance Corral!
By: Lee Romanov | 05/10/2007 | FinanceSo, what’s all the fuss about? Is it really worth the time and effort to prospect for the best car insurance rate? Or is it like digging for fool’s gold?
Can I Borrow your Car…insurance?
By: Lee Romanov | 05/10/2007 | FinanceIn our continuing quest to bring you sobering and thought-provoking information about driving and insurance rates, we conducted a survey of more than 10,000 people, asking this very important question:
Beware – Vacationing May Increase Car Insurance Rates
By: Lee Romanov | 18/09/2007 | InsuranceAuto insurance companies are consistently searching for tickets and suspensions by performing background checks and investigations. Once your auto insurance company finds a new ticket, be prepared for a sharp increase in your rates.
Planes, Trains and Automobiles
By: Lee Romanov | 18/09/2007 | InsuranceWe all know that we need tickets for planes and trains, but do we need them for automobiles?