QuoteLab Research Reveals Struggling Economy Boosts Auto Insurance Comparison Shopping Among Young Drivers

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A study conducted by the auto insurance comparison website QuoteLab.com shows that within the past year, the number of drivers under the age of 25 who are using the online auto insurance comparison tool has risen by 12%.

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The number of young drivers under the age of 25 using QuoteLab.com to research insurance quotes rose by 12% over the previous year.

As the economy struggles to rebound, the demand for cheap auto insurance among young drivers continues to rise. Research conducted by QuoteLab.com reveals that young drivers now make up over 20% of online shoppers who are using QuoteLab’s auto insurance comparison tool to find the cheapest car insurance.

With the help of online auto insurance comparison sites like QuoteLab.com, drivers are able to compare personalized auto insurance options from the nation's top insurers. During June 2012 the number of drivers under the age of 25, who were using QuoteLab.com to research young drivers insurance quotes, rose by 12% over the previous year. This increase is not only attributed to the nation's economic status, but also to the personalized service that QuoteLab provides when generating auto insurance quotes. For example, when preparing quotes QuoteLab takes in to account whether a young driver is a student, has a clean driving record and even good grades. These variables help to provide the most accurate low cost insurance options.

“We are pleased that more young drivers are taking an active approach in finding the best auto insurance options and that they are using QuoteLab.com to get the job done,” said Steve Yi, founder and CEO of QuoteLab.com. “Research has shown that rates for young driver coverage can be as high as $1,000 per month, so the more young drivers compare, the more they can save.”

Another reason young drivers prefer using QuoteLab.com is due to the extensive library of informative auto insurance articles hosted on their site. Articles ranging from “The General Insurance” to “Auto Insurance Discounts for Students” provide users with helpful information to make educated auto insurance purchasing decisions. In addition, the article library includes state overview sections which provide consumers with answers to a wide range of car insurance questions from the state specific basics such as “LA Auto Insurance” to the more in-depth young driver policy related questions like “Collision vs. Comprehensive.” Car insurance buying can get very complicated, and young drivers are equipped with the necessary information, when researching auto insurance, is a priority at QuoteLab.com.

Founded in January of 2012, QuoteLab provides free, personalized auto insurance quotes to 150,000 visitors a month.

About QuoteLab, Inc.
QuoteLab.com is a leading online auto insurance comparison site that helps drivers research, compare and choose cheap car insurance policies from the nations top providers. With an easy-to-use, intuitive online form, consumers can compare cheap affordable car insurance options in just minutes. Launched in 2012, QuoteLab.com has partnered with the nation's most trusted insurance companies to help consumers find the best and cheap insurance for car policies. For more information, visit http://www.quotelab.com.

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Carly Kratz
QuoteLab, Inc.

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