The state of Hawaii is hosting is own comparative rater – of sorts.
The state Department of Commerce and Consumer Affairs announced this week it has put together a comparison guide for vehicle owners, home and condo owners, as well as renters in order to do some of the legwork involved in researching insurance purchases online.
“They could save hundreds of dollars,” said Insurance Commissioner Gordon Ito. “I mean, if you look at our premium comparison sheet between companies, sometimes it’s hundreds of dollars difference between the premiums.”
Ito stressed that the department’s goal is not to emphasize price over quality, but to encourage competition, more frequent shopping and – eventually – make insurance policies more affordable.
“We’re hoping to really have consumers shop and compare and hopefully create more competition in the market, which will ultimately bring down insurance prices even further,” he said.
The guide also includes the number of completes the state has received against the company, and what it would cost for a clean driving record versus one with speeding tickets or other infractions.
Agents will be pleased to note the tools are hosted in PDF format and do not allow consumers to purchase from the site.
In general, comparison sites have not taken business from independents. Instead, research has shown consumers use the resources to comparison shop and then turn to a trained agent to answer questions and finalize the deal.
