Launches New Tool to Help Drivers Save Money

Foster City, CA – March 29, 2011 � has launched a new “What Insurance Do Drivers Like You Buy?” tool to help consumers make smart choices when purchasing or adjusting car insurance. The tool shows consumers how their insurance choices compare to similar drivers. The accompanying article analyzes how net worth, demographics and car type affect the degree of coverage required and explains why individuals benefit from comparing their coverage to similar drivers.

“This tool provides a good starting point for evaluating your car insurance coverage,” said Chris Kissell, senior managing editor of “If you�re buying too little or too much compared to others like you, it might be time to review your policy.”

Choosing the right coverage can be tricky because it involves multiple decisions about the types and amounts of coverage needed, but taking the time to do so can mean big savings. According to�s car insurance comparison tool, the following is typical of car insurance for young adults aged 16 to 24 who rent their living quarters in Connecticut and own vehicles made in 2001:

  • 39 percent have no collision or comprehensive insurance
  • 58 percent have the minimum liability coverage required by state law

Homeowners with a 2001 vehicle in Connecticut who are 35 or older purchase much higher amounts of liability coverage and include collision and comprehensive coverage in their policies, in part because these drivers have a higher net worth to protect.

The new tool from allows consumers to enter their age, state, car type and home and vehicle ownership status. Consumers can then view popular coverage combinations purchased by similar drivers and shop for low rates according to their preferred coverage. Individuals may save more money in the long run by comparing their insurance choices to those of their peers.

Cheap car insurance may sound enticing, but coverage requirements are situational. Just as investors adjust their asset allocation at different life stages, drivers should increase their liability coverage to cover their assets as their net worth grows. Purchasing car insurance for young adults often involves lower amounts of liability coverage, since these drivers usually have a lower net worth. However, some older drivers may require an umbrella policy if their net worth exceeds the maximum amount of liability coverage available.

About provides articles that help consumers understand insurance. The site makes it easy for consumers to research insurance questions and get fast, free comparison rates from multiple companies. Experts from are available for interviews about car insurance rates and other auto insurance topics.