Why is there a huge difference in insurance quotes if all info is the same?

I'm shopping around for insurance quotes because I thought my car insurance was too high. Progressive gave me a very low quote, which I was happy about. It was what I thought I should be paying compared to friends I've talked with. All the other quotes from the other insurance companies were in the same price range and very high. I began to worry that Progressive had some incorrect info, so I called them back, we went over all the info again, and everything is right. They even emailed my quote to me and it's all correct. Should I be worried that the quote is so low or is Progressive just being competetive?

CowboyBill

Doesn't matter. If they take your money and write you a policy (and don't say OOPS three days later) you should be fine.
You could just be falling into a specific underwriting model that Progressive uses. Count your luck!

Mike

Well I'm glad you are happy with progressive, I had them give me a quote and it came to over a $1,400 for a new car, I went to geico and im paying $ 918. and my coverage is better comparitively. Geico does not use a middle man or agent, so there cost is less then the normal insurance company.

the_cheeze_cop

As long as you are comparing 'apples to apples', then go with lowest amount.

I was searching for motorcycle insurance. State Farm want $400+/year for same coverage that Progressive presented for 1/4 of the price. Guess who insures my bike?

grande alacrÃ¡n

if progressive quote is low go with that company.some insurance company's go off your credit score like progressive and geico.

Chris

Well, first thing, make sure your quote is for the same policy limits and deductibles with each carrier. Secondly, even though the info is the same, the rates and prices will vary by insurance company as they all know how much money they need to make from you and make a profit. Some smaller companies may not give you a better price as a larger, and vice versa. That's why there is competition. If the rates were all the same, there wouldn't be so many companies vying for business.

cjlintexas

I just went through the same thing. 2 cars, me and a 17 daughter and there was over a $1000 difference. I couldn't believe it.

I stayed right where I am, but what a shock to find out the Gecko lied to me. Is nothing sacred anymore?

country girl

Some companies like Nationwide set their rates by grouping the entire country together. If California has had more accidents this year, then Ohio will have higher premiums along with everyone else. They pass the cost off the everyone in the network. I have Progressive and I am very happy with them. I wouldn't worry about it. If you have the exact same coverage you had with your other company, or even more coverage, then you should be okay.

starrwoode

are the deductables the same? are all the percentages the same? i know they advertise being the lowest, however i dont know how well they pay off on anything.

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