In this Gabi Insurance review, you’ll learn their unique AI price comparison technology, their pros and cons, and when it makes sense to use Gabi Insurance.
As someone who spent 10 years working in an independent insurance agency, I’ve paid close attention to the insurance startup space. In my mind, Gabi Insurance fills a much-needed gap when it comes to providing consumers with the right policy at the best possible price.
Gabi Review – About the Company
One of the good financial habits we should all practice is shopping around to find the best price on things. This can be a lot of fun when you’re shopping for a new car or looking at hotel rooms for your next vacation, but it’s a lot less fun when you’re shopping around for insurance.
It’s boring, time consuming, and sometimes seems complicated — and that’s why many of us never bother to do it. We stay with the same insurance company for decades, potentially leaving thousands of dollars on the table.
Say hello to Gabi.
Gabi helps you find the best insurance deals by comparing rates from more than 20 insurance companies. You can utilize the service for auto insurance, home insurance and renters insurance, as well as condo, landlord and umbrella insurance.
Gabi uses artificial intelligence (AI) to make getting an insurance quote faster and easier than it has ever been. AI can read and analyze huge amounts of data in seconds, which allows consumers to get personalized quotes that perfectly fit their needs. When you aren’t paying for more insurance than you need, you save money fast.
How much money? Gabi finds savings for about two thirds of its customers, with an average savings of $865 per year.
Gabi is a fully-licensed insurance broker in all 50 states, which sets them apart from other insurance rate comparison sites like Zebra.
How is Gabi Different from Zebra and Other Comparison Sites?
Comparison sites, also known as aggregators, allow you to compare prices across multiple websites and providers. However, those sites do not sell you the actual insurance policy. Once you click through or submit your information, their work is done.
An aggregator typically gets paid by selling your data, or earns a commission from the insurance company. In that way, they operate very much like Kayak or Expedia does when you’re searching for flights or hotels.
Gabi, on the other hand, is a broker or agent. They actually sell you the insurance policy, and then provide continuous service throughout the life of that policy. This business model, which is best defined as an independent agent, isn’t new. It’s been around for decades, and chances are you have a few independent insurance agents operating close by.
With that said, Gabi has differentiated itself from the more traditional independent agents with its AI quoting technology (described in detail below), which makes it easier to compare prices across multiple policies both when you’re looking to save money upfront and then once you become a customer.
Once you become a Gabi customer, its proprietary AI software will monitor your policy trying to find additional savings with your current insurance company (or a different one).
How Does Gabi Work?
Gabi’s starting point is your current insurance policy. Users upload a copy of their policy, or allow Gabi to access their online insurance account.
Gabi’s AI technology then does in minutes what it would normally take a traditional independent agent days to do. It searches policies from other insurance companies to find a better deal than your current one, and/or for discounts that may be available from your current insurer that you’re not taking advantage of.
Gabi sends you your quotes, and after you select one, it confirms your rate with the insurance company. You can buy the new policy directly through Gabi.
Be sure to cancel your former policy once the new policy goes into effect, as this will not happen automatically. Even if you’ve pre-paid for coverage, most companies will provide you with a prorated refund, although there may be early termination fees.
If that’s the case, calculate the cost of the fees versus the amount you’re saving by switching insurance companies. If the numbers don’t come out in your favor, you may want to wait until your current policy expires before switching over.
How Does Gabi’s Quote System Work?
This is where the personalization comes in. As part of your quote, Gabi’s AI technology analyzes your driving record and current level of coverage.
When it comes to getting a good deal on car insurance, it pays to be a safe driver. Nearly all auto insurance companies offer a discount if you have a clean driving record, and Gabi makes sure your quote includes this discount if you’re eligible.
Gabi will also find discounts tailored to you for things like insuring more than one vehicle, having a student or senior citizen on your policy, being affiliated with a certain employer, or driving a vehicle with specific safety features.
In the case of homeowners insurance, Gabi can find you discounts for things like having a monitored security system, living in a gated community, or being claim-free for a certain number of years.
Gabi can also find discounts when you bundle policies (meaning that you buy more than one type of policy from the same insurance company). So, be sure to upload all the policies you hold that are supported by Gabi.
Insurance Providers That Gabi Works With
Gabi works with more than 20 insurance companies, including:
- Berkshire Hathaway Guard
- Foremost Insurance Group
- Mercury Insurance
- National General Accident and Health
- Universal Property
Gabi Insurance Reviews
Gabi is a relative newcomer to the scene, which is why you won’t find a ton of results when you search for “Gabi Insurance Review.” But the Gabi reviews that are out there are very positive.
- The Better Business Bureau gives Gabi an “A” rating and customers on the site give it nearly 5/5 stars.
- Gabi has 4.5/5 stars on Google Reviews.
- The company also has a solid 4/5 stars on Yelp.
Gabi Insurance Review Summary
Shopping for insurance, especially through many traditional independent agent brokers, is time consuming. That’s why I believe Gabi’s innovative price comparison service is worth checking out. Many of the insurance companies they work with are highly-rated carriers that only sell through independent agents.
Aside from the ease of getting the best possible auto insurance quotes in just minutes, another nice benefit of Gabi.com is that you can easily customize your policy, such as by adding an umbrella or an RV policy.
Technological innovation has the power to reshape almost every aspect of the consumer marketplace. That innovation has already paid dividends when it comes to things like online retail, where prices are lower than ever before and almost any item in the world can be delivered to your doorstep in just a couple of days.
It’s about time that companies like the San Francisco-based Gabi start leveraging tech to provide those same types of savings and benefits with regard to financial and insurance products.
Get your quote from Gabi.com here.