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How can my current insurer offer me a lower quote online?

I'm searching for new car insurance quotes and I got one from my current company for $94 per month. The company already told me my premium for the next policy period would be $150. Why would my current company give me a quote online that's so much less than what I'm currently paying with them?

Jun 1, 2023 Indianapolis, IN

Answer
Author profile picture

Nathan Foster

Agency Trainer

Credentials
  • Licensed Insurance Agent - Property and Casualty

Nathan is an insurance professional with a focus on creating positive customer experiences with more than 10 years of industry experience.

Nathan tra…

Thank you for reaching out to The Zebra! There are a number of reasons that a quote can be different with the same company. One reason is that one of the quotes could have had all the reports run, while another might not have. The "reports" I'm referring to are things we insurance folks call MVR & CLUE.

The MVR & CLUE can run things like violation history, claim history, insurance score, and credit rating. All of these rating factors can impact your insurance premium. Those reports cost insurance companies money so many times they aren't run until you are ready to finalize the policy. This is a very common reason that a rate can be different.

Another very rare circumstance is that sometimes one agency can offer lower rates in certain areas with the same company another agency has. In broad insurance terms, some agents have more access to quote certain rates based on their individual carrier appointment. They have access to quote multiple different underwriting companies that another agency might not have access to. I know this latter explanation is a bit confusing, so let us know if you need any more clarification.

We always recommend getting multiple quotes to compare when you are shopping for insurance, and our tools can help by saving you time and potentially connecting you with a cheaper insurer.

Hope this helps!

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