Survey Reveals Consumer Shopping Habits for Auto Insurance

Survey Finds Consumers Shop Online for Auto Insurance to Get Better Price

Findings attest to the highly competitive nature of personal auto insurance markets and the degree to which consumers are using the Internet and personal Internet devices to comparison shop, says Insurance Research Council.

Eighty six percent of insured drivers responding to a recent public opinion survey by the Insurance Research Council (IRC) said they were satisfied with their current auto insurance company. Even with such a high reported level of consumer satisfaction, one in four respondents who own at least one vehicle said that they had shopped for auto insurance during a recent 12-month period, and 80 percent of the respondents who shopped said they did so primarily to see whether they could get a better price for insurance coverage. Thirty three percent of survey respondents who shopped for insurance actually changed to a different insurance company.

Survey respondents also indicated a high reliance on information obtained by accessing the Internet as they shopped for insurance.
Seventy one percent of respondents who shopped for insurance said they accessed the Internet for information. Among different Internet devices, desktop computers had the highest usage rate, with 48 percent of shoppers who own a desktop computer
saying they used it to shop for insurance, followed by laptops, which were used by 39 percent of insurance shoppers who own a laptop. Nineteen percent of shoppers who own a smartphone and 13 percent of those who own a tablet used those devices to shop for insurance.

“These findings attest to the highly competitive nature of personal auto insurance markets and the degree to which consumers are using the Internet and personal Internet devices to comparison shop,” said Elizabeth Sprinkel, senior vice president of the IRC. “Consumers are armed with more information than ever before, thanks in large measure to widespread device ownership and Internet access.”

Other issues explored in the survey include:

  • How well informed consumers say they are about auto insurance
  • Sources of information used when shopping for insurance
  • Satisfaction levels, shopping experiences and Internet device ownership for different demographic groups
  • Use of Internet devices to complete insurance purchases
  • Non-claim-related reasons for contacting their insurer

The report, Shopping for Auto Insurance and the Use of Internet-Based Technology, is based on an online survey of 1,168 respondents by GfK Public Affairs & Corporate Communications on behalf of the IRC. The survey was conducted between September 24, 2014, and October 13, 2014. Survey data were weighted to the U.S. population of adults aged 18 and above.

You May Also Like

Hunter Engineering to Exhibit HawkEye XL Aligner at TMC

New commercial alignment system offers speed, versatility and ease of use.

Hunter Engineering will be exhibiting the new HawkEye XL aligner at the ATA’s Technology & Maintenance Council annual meeting March 4-6 in New Orleans. Frequent live demos will take place in booth no. 1639.

The versatile aligner, designed for maximum speed, durability and ease of use for a wide range of commercial vehicles, provides highly accurate measurements in four minutes or less.

Crash Network Releases Results of 2024 Insurer Report Card

A record-high 19 companies, including six of the largest U.S. auto insurers, received a grade of C- or lower.

AirPro Named Approved Provider for BMW North America Certified Network

BMW North America has selected AirPro Diagnostics as an approved provider of its Integrated Services Technical Application (ISTA) software to the BMW Collision Repair Network.

CIF Announces LKQ Corp. as Repeat Annual Donor

LKQ Corp. committed again to the CIF Annual Donor Program, marking their third consecutive donation at the First Responder tier.

Car ADAS Adds Integrations and Support Manager

In his new role, Nate Thomsen will help open new calibration centers and support licensees to ensure their success.

Other Posts

Wren’s Collision Centers Opens 14th Location in Georgia

Wren’s Collision Centers announced the grand opening of its 14th location in the historic district of Roswell, Ga.

Classic Collision Adds Three New Locations in Southeast Florida

Classic Collision has acquired Empire Auto Body in Pompano Beach, Factory Certified Collision in Oakland Park and Southeast Collision Center in Boca Raton, Fla.

McBride Auto Body: Established in 1937

Joseph Carioti immigrated from Italy to the U.S. in 1910 and founded McBride Auto Body in 1937.

Events of the Week

Recent event announcements on