The third quarter of 2021 saw personal auto rates increase 4.7%, showing moderate growth compared with earlier in the year, according to MarketScout, which reported personal lines were up 6.6% overall during Q3.
That came on the heels of consumers shopping for auto insurance at a record-setting pace during the second quarter, according to LexisNexis Risk Solutions. Year-on-year shopping volume grew 1.1%, while new policies written grew 8%.
Millennials and Gen Z have become the most active demographics in terms of auto insurance shopping during the past quarter, according to TransUnion, while baby boomers and the Silent Generation have become less active.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
