Auto Insurance Survey: What Company Provides Your Auto Insurance?

Choosing an auto insurance provider can be an overwhelming task. There are a bunch of companies to obtain quotes from, and it is important to make sure all providers cover the basics in the unfortunate event of an accident. For those just starting out, here is a helpful guide to learning about auto insurance and demystifying some of the technical lingo.

To help get a better understanding of auto insurance providers Random Survey Data conducted a survey asking ordinary students a few questions about auto insurance. This hopefully gives readers confidence in their decision making process when shopping around for auto insurance. Lets cover the basics of our survey collection.

•   The Survey was conducted via an Google Doc link through email to friends and extended friends
• Survey conducted in January 2013
•  A total of 194 responses were received
  

Auto Insurance Survey Results

Now lets dive into the data! There were a few participants (11.3%) who did not drive a car and were not enrolled for insurance. We filtered out 22 of these candidates who did not have auto insurance. This way we could provide an accurate list of companies people use for their auto insurance. Here is distribution of all the companies listed by participants in the survey.

I know it’s a bit cluttered, but here are Insurance Providers to the survey participants are:

1.   GEICO (16.9%)
2. AAA (14.0%)
3.  State Farm (14.0%)
4. Farmers (8.1%)
5.  Allstate (8.1%)

This aligns well with the amount of advertisements we see on media outlets! It is likely that GEICO appeals to the participants as a cheaper alternative to larger brick and mortar auto insurance providers.

Another question that was asked in the survey was "How participants obtain a quote and purchase their auto insurance?" From the histogram below we learn that a majority of participants order insurance online. The two other popular methods are over the phone or going to the office to talk directly to the localinsurance agent. 

If we dive a little deeper we find that of those who have GEICO, 75.9% went online to order it. Flipping this, if we ask which insurance companies people sign up for with a agent at the local office, we find some interesting results. Here are the top three insurance companies survey participants signed up for at the local office

•  State Farm (25.0%)
•  AAA (22.5%)
• Farmers (10.0%)

This knocks online based insurance companies out of the water. For example, GEICO and Progressive only had one participant claim to visit the local office. It looks like this goes back to the advertising of these companies as a real person to help.

Life Insurance

As I was processing this data I began to wonder about other types of Insurance available. Obviously vehicles are just one avenue where insurance is highly recommended. House/Renters insurance is a good one to have and life insurance is absolutely necessary also. Life insurance is often over looked but it is so crucial for your family and loved ones in the unlikely event that something happens to you. There are plenty of resources online that talk about life insurance in more detail. The Simple Dollar is a neat little website clearly explaining a lot of this information better than I ever could. Maybe in the future a different type ofinsurance can be used for this survey (the possibilities are endless!!). 

Conclusions

Back to Auto Insurance, I think we have some interesting results found in our survey. It helps shed some light on what companies people choose for auto insurance when the market is so saturated with great commercials. I am happy to hear that GEICO is in the top running’s along with AAA. Overall, this was a great introduction to the popular auto insurance companies and to see how they enroll.