Everyone has seen the commercial where the progressive insurance guy tells you that people switching to progressive saved an average of $332 on their car insurance. Except that you see similar commercials from State Farm, Geico (albeit with a more fetching mascot) and probably several others. How can this be? Who really offers the lowest rates?
The fact is that none of these commercials tell you a damned thing about which insurance company will offer you the lowest rates. What they tell you, all they tell you, with remarkable consistency, is that it takes an average savings of $300 to get people to switch insurance companies.
They keep running these ads because they count on the public not to know math. I’ve no doubt that this is a successful campaign for them too. Hug a math teacher today.