Consumers Benefit from Competition for Car Insurance Quotes and Bank Rates

While many consumers have become accustomed to benefits offered by many companies for remaining a loyal customer, not all industries appear to be worth the effort. You car or auto insurance may be one area in which it pays to shop around.

According to a recent survey by Gocompare.com found that about 25% of people do not typically change companies when it comes to car insurance, homeowners insurance, bank accounts and other financial matters. With the amount of competition in that market however, consumers may be missing out on great opportunities to save money, or get better interest rates.

With few exceptions, banks and insurance companies to not have any type of loyalty programs to help keep current customers. Instead, financial incentives like better interest rates or lower costs are usually only offered to acquire new customers. These incentives are often limited and only apply for a short time.

Many are beginning to agree that lower insurance rates, or increased interest rates for bank accounts, should be offered to keep existing customers loyal and would actually reduce the institutions costs.

It is important to remember, that many insurance companies make their high profits off of loyal customers who just don’t know any better. With all of the options around, shopping for car insurance quotes, or better bank and credit card interest rates, could prove very beneficial. Many companies like Insurance60.com can give consumers insurance quote rate comparisons in just minutes with little effort.

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