Fewer auto-insurance consumers are shopping their coveragetoday, but those who do shop seem more willing to switch providersthan in past years thanks to competitive quotes, says J.D. Powerand Associates.
In its 2012 U.S. Insurance Shopping Survey, J.D. Power says 25percent of consumers shopped for a new auto insurer in the last 12months, the lowest figure in the past five years and an 8 percentdecline from last year's survey.
Jeremy Bowler, J.D. Power'ssenior director of the global insurance practice, says in astatement that customer-retention rates are increasing at a timewhen auto insurers are spending more money to encourage switching.He notes that advertising expenditures increased 12 percent in 2011compared to 2010.
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