Only 3 in 10 Americans Review Insurance Annually
New Big “I” survey reveals that only 3 in 10 Americans (31%) review or shop for insurance each year, with many waiting until premiums increase, major life changes occur, or coverage issues arise.
Renewals
7 Trends Transforming Personal Lines
How are shifting trends impacting independent agents’ personal lines strategies? And what do clients want from their insurance relationships? Here are seven trends for the future of personal lines insurance.
J.D. Power and Big ‘I’ Release the 2025 Independent Agent Satisfaction Study
The study tracks agent sentiment across multiple categories, including ease of doing business, communication practices and claims handling.
Homeowners Rates Increase 40% in 6 Years, According to LendingTree
Nationally, homeowners insurance rates jumped 11.4% in 2024, with double-digit increases reported in the last two years.
Highest Value Auto Customers Most Likely to Shop
More than one-third of U.S. personal auto insurance customers are dissatisfied with their insurance and those with higher overall lifetime value profiles are most likely to leave, according to J.D. Power.
More Homeowners Shop for Coverage but Most Stay Put
A record 6.8% of all home insurance customers are actively shopping for new policies in 2024, yet only 2.2% of homeowners switched policies as a result.
Half of Auto Insurance Consumers Are Shopping for New Policies
The increase in auto insurance shopping is prompted by soaring auto insurance costs, with a 22.2% year-over-year increase in the average cost of auto insurance through the end of February.
Home and Auto Insurance Shopping Increases
As auto insurance shopping rates rose during the fourth quarter of 2023, carrier retention rates dropped.
