Auto Insurance Shopping Rose in Q3
Trend was more pronounced for the segment than for property insurance.

Baby boomers led the charge on the search for lower priced auto policies, 34% of them looking at other insurers in the quarter.
Pexels/Kindel Media
Auto consumers are shopping around more for the best insurance deals, according to a third-quarter TransUnion report that shows those across generations are part of the trend.
Shopping for both auto and property insurance increased in the quarter, though auto insurance led the way with a 19% year-over-year jump, versus 16% for property insurance.
Baby boomers led the charge on the search for lower priced policies, 34% of them looking at other insurers, while 23% of Generation Z shopped, 18% of Generation X and 8% of millennials.
“It’s important to note that consumers are also switching at significant rates,” said TransUnion Senior Director of Strategic Planning for Insurance Business Patrick Foy in a press release. “This should serve as a reminder to insurers that marketing and digital experiences matter for acquisition.”
A significant 38% of all insurance shoppers have ended up switching carriers in the past six months, while those who don’t find better deals frequently raise their deductibles or opt in for telematics programs in order to lower their premiums, the consumer credit reporting agency said.
Originally posted on Auto Dealer Today
More Industry

Nebraska Rooftop Changes Hands
The Gregg Young Automotive Group has sold its second dealership to Janssen Auto Group, both in Plattsmouth, Neb.
Read More →
Penske Auto Group Deal a Record
The deal to take the dealership and transportation services company private sets a new pace for industry buy-sell transactions.
Read More →
War Toll a Damper on Used Auto Prices
Cox Automotive found wholesale depreciation to be elevated in September amid high fuel prices and this year's unusual hurricane season.
Read More →
Bridge the Maintenance Gap
With many drivers missing recommended maintenance, service departments offering transparency and efficiency have a better chance of reaching financially strained consumers.
Read More →
California Store Has New Owner
The longtime dealership in the northern part of the state is known for robust fleet sales and has served the state capital for 115 years.
Read More →
BMW Plant Pursues Cleaner Energy
BMW Group Plant Leipzig has utilized hydrogen to help power its production since 2013, but a new pipeline is planned to take it to another level.
Read More →
Auto Affordability Inches Up
The latest Cox Automotive and Moody’s Analytics index shows a slight increase in new-vehicle affordability despite high prices.
Read More →
Ohio Auto Group Under New Ownership
After 79 years with the Schluter family, Mansfield Auto Group has been acquired by Missouri-based Clement Auto Group.
Read More →
RV Group Expands Carolina Footprint
Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.
Read More →
Agent Acumen
An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.
Read More →