Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jan 20, 2021

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online

Shopping for and purchasing auto insurance online is growing in popularity, according to the comScore 2011 Online Auto Insurance Report released last week.

In 2009, online insurance quote submission and purchasing saw a dramatic increase of 21 and 22 percent, respectively, from 2008.

The numbers held pretty steady in 2010, with quotes submitted down three percent, but purchases made online up one percent.

[Top auto insurance companies]

While the numbers aren’t much better than 2009, 32 percent of respondents who reported not having made an online auto insurance policy purchase in the past said they would be more likely to do so in the future.

And only 22 percent said they would be unlikely to do so, down from 39 percent in 2009.

purchase method

Using a Local Agent Still Most Popular

However, 43 percent still said they went with a local insurance agent to purchase their auto insurance, which is down from 49 percent in 2009.

But 20 percent of respondents purchased their policies online, up from 15 percent two years ago.

So clearly there’s a shift in consumer sentiment to go online to both shop for and obtain auto insurance coverage.

Tip: It’s recommended that you compare insurance quotes from a variety of sources, including both online providers and in-person with a local independent insurance agent.

Using an independent agent allows you to receive multiple quotes from a variety of companies, while captive agents can only provide you with a quote from the single company they represent.