Ask an Agent
Have a question? We're here to help.
Ask an agent for free
Question

Do car insurance companies price match?

I'm with a very well-know insurance company but the price of my policy has steadily raised over the last few years. I decided to shop around and found one company that was able to beat my current rate. I don't want to switch to this company because they are much smaller and aren't available 24/7, but I want my rate lowered. If I call my insurance company and send them the quote I received, will they price match to keep my business?

Mar 29, 2017 Rapid City, SD

Answer
Neil Richardson

Mar 29, 2017

Insurance companies use a complicated math equation, called an algorithm, to determine how they price their coverage. This means that each company prices their coverage differently since they don't share this information so rates will differ depending on your personal information. While your company won't be able to directly "price match" with a competitor, it might be worth contacting them for an updated quote since you've been able to find a lower rate elsewhere. It may not result in much of a difference, but they may be able to make some adjustments to make your rate more competitive.
Related Questions
Other people are also asking...

If I hit an object in the road, can I claim this under my comprehensive coverage?

Insurance companies consider hitting an object in the road to be an accident. Unfortunately, that means you will need to use your collision coverage, the incident will be considered your fault, and you'll likely see an increase in premium.
Nov 23, 2016 Winston-Salem, NC

I just bought a used car and it is still insured under the previous owner. Am I covered?

When the ownership of a vehicle transfers from one person to another then the insurance coverage is no longer valid for the new owner. Even though the policy may still be active from the previous owner, you now own the vehicle and are not listed as a driver on the insurance coverage.
Apr 6, 2016 Sioux Falls, SD

Do car insurance companies share information?

The new insurance company is likely to find out about the accident, but that will come from your driving reports when you buy your policy. The majority of insurance companies request a motor vehicle report (MVR) and a comprehensive loss underwriting exchange (CLUE) report to verify the accuracy of a new customer's driving record.
Jun 29, 2016 Findlay, OH

Compare insurance rates today!

or
Location pin icon
No junk mail. No spam calls. Free quotes.
Ask an Agent
Have a question? We're here to help.
Ask an agent for free