Because auto insurance pricing is so competitive, it often pays for consumers to shop around. Some insurers practice “price optimization,” which involves using information that is unrelated to risk to set rates for an individual consumer. Price optimization measures how likely it is that a person will compare prices and how much of a rate increase a person would be willing to accept before switching insurers. While no one can be sure if he or she is subject to a price optimization policy by his or her insurer, it may not hurt to shop around for lower rates. In some cases, it may even be possible to get several quotes and ask a preferred insurer to match the lowest one.
NOTE: If you have a good driving record and have been with a single insurer for a long time, chances are that the insurer would like to keep you as a customer.