Remember the unbelievable story of Nicole Scheufler, who saved hundreds of dollars on her insurance policy through an insuretech startup called? Well, it turns out that when you want to save money on car insurance, you can’t believe everything you read.
Car insurance isn’t a one-size-fits-all proposition. What works for one person may not work for another. I discovered that the hard way. Scroll to the end of that story for a clue. Turns out the same tried-and-true strategies that helped you save money on insurance last year can work today. But beware of shortcuts.
A recent Policygenius.com survey found that 1 in 3 Americans have never re-shopped their auto insurance. Of those who’ve never re-shopped, 32% said it was because they thought it would take too much time, while about 16% said they don’t want to do the paperwork.
Gabi is one of several promising insuretech companies that use technology to find both savings and efficiency in the insurance industry. As I reported, they’re also turning the industry’s focus away from making quick sales and toward building long-term relationships that could benefit both consumers like Scheufler and forward-looking insurance companies. That’s a good thing.
I signed up for Gabi to see if it would work for me. After I surrendered my name, driver’s license number, and the login for my current auto insurance, Gabi went into radio silence for three days and then sent me the following message:
Hi Christopher, this is Natallia from Gabi. I just found you savings of $585 on your AAA policy.
Wow, $585? Where do I sign up?
Natallia asked me to review the policy and fill out the payment form.
So far, so good.
Then came the bad news.