News

As personal auto policy shopping reached historic highs, distracted driving also increased, especially among older drivers.

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.

While many insurers have filed for rate decreases in 2025, many customers have yet to feel the effects of those decreases, with 44% of auto insurance claimants reporting a price increase in the past 12 months.

Nearly half of U.S. homeowners have seen their insurance premiums increase over the past year, signaling growing concerns over insurer loyalty and long-term profitability, according to J.D. Power.

Small commercial customers are more likely than ever to consider moving their business to another insurer at renewal, according to J.D. Power.

Nationally, homeowners insurance rates jumped 11.4% in 2024, with double-digit increases reported in the last two years.

The latest research from Liberty Mutual and Safeco explores how the hard market is impacting both agents and customers and how agents can improve customer satisfaction and retention.

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.

Client communication, retention, technology and team morale are among agents’ top priorities in adapting to the hard market.

As auto insurance shopping rates rose during the fourth quarter of 2023, carrier retention rates dropped.