Shopping rates for auto insurance are at a low, according to new research by TransUnion.
The number of Americans shopping for car insurance has been steadily dropping for the past couple of years. In 2013, 15.2 percent of the credit-active population shopped for auto insurance, down from 16.1 percent in 2011.
The latest TransUnion Auto Insurance Shopping Index also found that getting car insurance rate quotes peaks in March and August, which are traditionally the months when people buy cars.
While TransUnion identified that the slowest car insurance shopping months were November and December, "shopping intensity is the same" since the number of quotes a consumer obtains are the same, says Mark McElroy, executive vice president for TransUnion's insurance business unit.
Other than possibly getting better customer service, there's no advantage to shopping for car insurance at off-peak times. "Auto insurance is highly regulated in terms of pricing, and we are not aware of any seasonal incentives being offered by carriers," McElroy says.
To learn how to save money on auto insurance, read about these five shopping do's and don'ts of car insurance.
Tara Baukus Mello writes the cars blog as well as the weekly Driving for Dollars column, providing both practical financial advice for consumers as well as insight into the latest developments in the automotive world. Follow her on Facebook here or on Twitter @SheDrives.