In an ideal world, you would always comparison shop every product or service. But in the real world, that takes time and effort. Is is worth the bother? To estimate the potential benefit of shopping around,
They ranked each state by taking the difference between quotes in the 25th and 75th percentiles.
We found that the difference between the premiums was substantial, and shopping around can lead to dramatic changes in pricing. Of all the states we looked at, Texas had the biggest discrepancy in prices — there was a $2,182 range in insurance prices between a 25th and 75th percentile quote. Even at the low end, in New Hampshire the price ranges between quotes at these percentiles was $363 per year.
The article does a deeper analysis for California and Texas:
It’s night and day between California and Texas. Texas is one of the most expensive states to get home insurance in the country, owing partly to the frequency of catastrophic weather events and partly due to higher insurer expenses. Not only does zip code 78521 in Brownsville have a 25th percentile of premium greater than San Francisco’s 75th percentile, but it’s 75th percentile is more than double that!
Basically, you should shop around everywhere as you could save hundreds per year at a minimum. But you should really shop around in Texas. You know, unless you don’t want to save potentially $2,000 a year.
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