The gecko was right: Spend 15 minutes shopping around for car insurance

Very little remains frozen in time since the 1990s. But, a new consumer survey suggests that for many, their car insurance is stuck two decades ago.

And they have no one to blame but themselves.

Bankrate contacted 1,000 consumers by phone and found that 25% are insured by the same carrier that they had in the 1990s. Amazingly, 7% had stuck with the same company for more than 30 years.

Loyalty is wonderful. But it’s possible those devoted customers are overpaying.

"Many people make the mistake of shopping only when they move or buy a new car, but data shows that rates fluctuate even when you haven't had any major life changes," said Laura Adams of, a Bankrate company, in a statement. “This is especially true for young people.”

Car insurance rates fluctuate based on our credit score – which we will not debate here– and credit scores are dynamic to say the very least. So, savvy consumers shop around every time a policy is up for renewal (generally every six months). It’s is more likely than not that a competing company will offer you a lower rate than your current insurer without having to reduce your coverage.

Sadly, Bankrate’s survey indicates 36% of drivers never shop around for insurance, even though getting quotes is easier than ever.

The Geico gecko is right: the process really does take just 15 minutes or so—and often can be done online, without the influence of a pushy salesperson.

So, why aren’t people shopping around? The survey says 62% complained it’s too time consuming; 44% said it is frustrating; and 40% called the process complicated.

That might all be true. But, the odds are in your favor that the effort will pay off.

Do it. Save yourself.