As the adage goes, you'd better shop around. But the results of a new survey show that many drivers are not heeding this advice.
According to insuranceQuotes.com, the average American hasn't changed auto insurance companies in 12 years, and more than a third of U.S. drivers never shop for new insurance.
The study, which interviewed 1,000 adults and had a margin of error of plus or minus 3.6 percent, found that about 25 percent of drivers have been with the same insurance company for more than 16 years, and 7 percent for more than 30 years.
"Americans may think loyalty pays off, but when it comes to insurance, that's not always the case," said Laura Adams, insuranceQuotes.com's senior analyst. "If you haven't shopped for auto insurance since the '90s, it's probably safe to say that you're not getting the best deal."