Tag: jd power

Auto insurance shopping increases as high rates send consumers elsewhere

Logan B.
Auto insurance - Shopping around online

Drivers are looking for new ways to make their coverage affordable, including leaving current insurers According to a new report from JD Power and TransUnion, for the first quarter of 2024, drivers were increasingly shopping for new auto insurance policies in the hopes of saving money on their monthly premiums. These drivers felt there were no more ways to save on existing policies Consumers started comparison shopping for new auto insurance policies because they didn’t see any new ways to be able to apply discounts to their existing coverage, said…

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More Americans are shopping for auto insurance than ever before, JD Power

Nordstrom
Auto insurance - Shopping for insurance on computer

An increase in car ownership and rising premiums are among the reasons people are shopping around. The number of households in the US with cars but that don’t have auto insurance increased during the first half of this year, and the percentage of drivers who say they’re shopping for coverage has hit record levels. JD Power released data based on their findings in a recent report based on American households. JD Power recently published an auto insurance intelligence report in which they revealed the trends they identified in this market.…

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US consumers are still shopping around for auto insurance

G. Turner
Auto insurance - shopping - mobile

Q2 data from JD Power showed that switching continued to be as high as in the previous quarter. Rates continued to be an obstacle for auto insurance companies in this year’s second quarter, according to the JD Power Q2 2023 US Auto Insurance Shopping LIST Report. Insurers have been increasing rates to keep up with costs, sending drivers to look for cheaper options. As auto insurance rates keep climbing, drivers have been looking into different coverage options in an effort to find options that will be more affordable. The report…

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Auto insurance dissatisfaction drives usage-based coverage growth

H. Cutner
Auto insurance - Usage-based coverage increasing

About one third of covered US consumers said they had experienced a rate increase in the last year. Across the United States, around one in three drivers with coverage experienced a rate increase within the last year, said a new JD Power 2023 US Auto Insurance Study. This has pushed them to look for new ways to save money on their policies that they might not have tried before. Mainly due to the rising expense associated with covering their vehicles, customer satisfaction with this coverage fell by 12 points to…

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Consumers are shopping for better auto insurance rates more than ever before

H. Cutner
Auto insurance - Shopping for car insurance

A new JD Power study showed that comparison shopping has reached an all-time high among consumers. More than ever before, consumers have been comparison shopping for better auto insurance rates, according to a new JD Power report. The report showed that over 40 percent of drivers had experienced an increase in cost after using telematics. The report also indicated that some drivers are finding that there are fewer new rates available to them than they expected. Consumers hit by rising auto insurance rates have been searching for cheaper alternatives more…

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Consumers shopping around for better auto insurance prices

Logan B.
Auto insurance - Blue car

A new JD Power report shows increasing interest in usage-based policies and telematics. A rising number of consumers have been shopping around to find better prices for their auto insurance as inflation and gas prices send the cost of living skyward, says a new JD Power report. Increased costs have led many drivers to find new way to save money on their coverage. The JD Power research showed that higher gas prices and cost issues related to inflation have been sending drivers to compare rates from different auto insurance companies…

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Rising auto insurance rates causes customer satisfaction to fall

H. Cutner
Auto insurance rates - Insurance Company

A new JD Power study showed that drivers are unhappy with their insurers over climbing premiums. A new JD Power study has shown that motorists’ satisfaction with their insurers is falling as they watch their auto insurance rates rise. JD Power published the results of their 2022 Insurance Shopping Study showing discontent among drivers. The study showed that auto insurance rate hikes have been driven by a 41 percent rise in the price of used cars. This has pushed vehicle repair and replacement costs skyward and has sent insurers to…

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