TikTok creator Cara (@friendlyneighborhooduw) posted a PSA saying that comparing other people’s premiums on social media cannot determine whether you are overpaying for car insurance and urged consumers to obtain competing quotes.
Cara explained that premiums depend on many individualized factors—state, zip code, vehicle, prior limits, lapses in coverage and, in some states, credit score—so peer comparisons are not comparable.
She advised getting quotes from other insurers with identical coverage limits to make valid comparisons and to follow an agent’s guidance on appropriate limits for your situation.
Commenters largely agreed, sharing savings stories and noting location-driven rate changes, and the Insurance Information Institute says insurers consider driving records, mileage, demographics, vehicle type and credit when setting rates.
This summary is based on coverage by Motor1.
Read the full article at Motor1.
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