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14.1 COMPARISON SHOP FOR INSURANCE HOMEOWNERS AND AUTOMOBILE INSURANCE

==Average Discount = $200

There can be a huge difference in the price of automobile and homeowners insurance for the exact same coverage.

One automobile policy can cost three times as much as another! Always shop around. In Maryland, for example, a company charged $7480 for a policy, while another only charged $2145. The coverage was same; the difference in price was three and a half times! Your savings may not be as dramatic but it definitely pays to compare. Less than half of drivers compare rates, and only a sixth of drivers call more than two companies. You must, it seems, call five or six.

There can also be a big difference in homeowner policies with the same coverage.

Comparison shopping for insurance will pay you back handsomely. You might save $100s to $1000s this year and every year from now on. For an accurate comparison you must give each company the same policy specifications.

However, don't always buy the lowest priced policy. Find an established company that settles claims quickly to the satisfaction of policy holders.

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