We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Financing a home purchase
Refinancing your existing loan
Finding the right lender
Additional Resources
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Compare Accounts
Use calculators
Get advice
Bank reviews
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Compare by category
Compare by credit needed
Compare by issuer
Get advice
Looking for the perfect credit card?
Narrow your search with CardMatch™
Personal Loans
Student Loans
Auto Loans
Loan calculators
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Best of
Brokerages and robo-advisors
Learn the basics
Additional resources
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Get the best rates
Lender reviews
Use calculators
Knowledge base
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Selling a home
Buying a home
Finding the right agent
Additional resources
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Car insurance
Homeowners insurance
Other insurance
Company reviews
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Retirement plans & accounts
Learn the basics
Retirement calculators
Additional resources
Elevate your Bankrate experience
Get insider access to our best financial tools and content
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and reviewed by subject matter experts, who ensure everything we publish is objective, accurate and worthy of your trust.
Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you.
All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Social media has impacted most lives in some form or fashion over the last several years. Whether it is simply admiring stunning vacation photographs on Instagram or looking for recipe inspiration on Pinterest, almost everyone in the U.S. comes in contact with one of these platforms at some point.
People may use social media for the fun aspects of life, but there is a growing trend to use social media for more practical things, too. Product recommendations on platforms such as Facebook, Instagram and TikTok are now familiar examples of how consumers shop and get recommendations — even for services like car insurance — from influencers or audience members. Bankrate took a look at how social media is influencing consumers and what to look out for.
There is little doubt social media is shaping consumer spending behavior. With so many users spending hours on various social media platforms each day, it makes sense there is such a huge opportunity for a consumer to either be influenced or outright purchase something right there within the platform.
As mentioned above, TikTok users spent over $2.3 billion dollars within the app during 2021. It is estimated about 76% of consumers have purchased an item they have recently seen on social media. GenZ consumers tend to purchase more from TikTok and Snapchat, but they are not the only age group making purchases. Gen X and Baby Boomers also make purchases, although their purchases tend to occur more frequently in Pinterest and Facebook.
Influencer marketing refers to someone who has a built-in audience, such as someone who runs a very successful blog or has a large social media presence, and uses that platform to market products or services for profit. Oftentimes, you will see companies partner with influencers within a certain niche or industry. The “influencing” can take place either through co-creating content, promoting a specific product or simply product placement. If done correctly, the influencer helps promote brand awareness for a company while also expanding the product’s audience or potential customers.
Authenticity is one of the most important qualities of influencer marketing. If someone believes the influencer actually uses the product or sees them using the product, it could make the audience more likely to purchase the product.
Advertisers may also work with influencers through sponsored posts. A sponsored post is where a company pays to have an influencer promote a product or the company name with certain content. It is simply paid promotion to expand the reach of the company. It could take place in the form of sponsoring a blog post, podcast episode, Instagram story or post or a TikTok video.
With all the marketing buzz around influencer marketing, sponsored posts and TikTok videos, is there any place for promoting and purchasing car insurance? It seems the answer is now yes, as more consumers are turning to social media for car insurance recommendations. After all, people look to influencers for advice on other financial topics, such as investing and crypto. As fun and engaging as TikTok videos (or other social media posts) can be, it’s also important to do your own research before you commit to a provider so you know you are making the best purchase for your own needs. We put together a few tips to help you protect yourself while shopping for car insurance online, whether through social media or other websites.
Before you divulge personal information to just anyone, you need to make sure you are obtaining car insurance quotes from a reputable site. Look for security guarantees such as an “https” in the web address and the lock icon in the web browser field. You can also Google the company name to make sure the web addresses match before proceeding. You can expect to provide your ZIP code, gender, birthdate and address when obtaining insurance quotes.
With the growing popularity of social media shopping, it has given rise to a variety of online scams. The Federal Trade Commission now estimates social media scams are the most profitable scamming method, defrauding people out of over $770 million in 2021 alone. Scams may come through phony investments and bogus investing opportunities, fraud with online romance and scams trying to buy products through a social media site. You can limit your exposure to these scams by opting out of the targeted advertising on each platform, limit the information you post and never respond to an urgent request from a friend or family member who needs money for an investment.
When it comes to car insurance, it is important to regularly compare rates and shop around. While loyalty to a company can be a good thing, by shopping around you can ensure you are getting the best coverage options for your budget. You can go online and compare multiple car insurance companies by providing basic information and find out what additional discounts or benefits you may be eligible for. So even if your favorite influencer recommends a particular car insurance company, it may be worthwhile for you to also secure quotes from other companies for the same coverage before buying.
Don’t just take an influencer’s word for it. As you narrow down your search for car insurance companies, it may be helpful to use insights from other third-party companies to further validate your choice. J.D. Power offers customer satisfaction survey results which may be helpful. You can also review financial information with Standard & Poor or A.M. Best ratings for further information about the company’s financial standing.
Lastly, it’s a good practice to check out customer reviews from regular people for any company you are thinking about doing business with. There are a variety of sources where you can find information about customer reviews or complaints for car insurance companies, such as the NAIC for information about consumer complaints and J.D. Power surveys for customer satisfaction.
As dominant a force social media can be in each of our lives, it is possible it could impact life outside your online presence in ways you might not realize. Your social media activity could impact your job, volunteer work or even the cost of your car insurance.
It is possible for an insurance company to review a social media profile of someone who is applying for coverage. Typically, when you accept the terms and conditions of the insurance provider’s website, you are agreeing to let them review your social media activity. This information may be used in the decision-making process for coverage.
If you file a claim, a claims adjuster may review your social media profiles to see if there is any information available that could possibly negate or impact the claim. Not only could posts be examined for fraudulent activity, but if you have any posted pictures of your vehicle before an accident, it could be used as part of an investigation.
Although data is limited regarding the impact of specifically using social media while driving, it would definitely qualify as distracted driving. The Centers for Disease Control reports there are nine people killed every day on the roads due to distracted driving. Over 424,000 vehicle accidents in 2019 were directly attributed to distracted driving.
While insurers could use social media to find fraudulent activity, social media can also help drivers by documenting the aftermath of an accident or showing the condition your car was in before an accident.
TikTok is one of the latest platforms to enter the social media scene, but it has certainly made an entrance. This platform’s popularity has made way for a plethora of online personalities, including some of whom promote topics and information related to financial decisions and cars. Here are a few examples of popular influencers who may be the next one to influence you and make you say “TikTok made me buy it” during your next car- or insurance-related decision.
Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. This compensation may impact how, where and in what order products appear. Bankrate.com does not include all companies or all available products.
Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access
BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access
© 2022 Bankrate, LLC. A Red Ventures company. All Rights Reserved.