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.
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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.
