Auto insurance customers in the United States saw a bit of auto premium relief by the end of 2024, with premium increases dropping from 13% at the start of the year to less than 2%. However, according to J.D. Power’s 2025 U.S. Insurance Shopping Study, the portion of customers actively shopping for new coverage climbed to 57% from 49% the previous year. This is the highest shopping rate J.D. Power has recorded in the 19-year history of this study.
The report shows that about one-third of customers who are actively auto policy shopping are seeking a carrier to bundle their home and auto insurance. Customers who bundle tend to stick around longer than other customers; staying with an insurer for an average of 7 years versus the 5.5 years those who don’t bundle spend with a carrier.
J.D. Power also found insureds are becoming more interested in imbedded insurance options, which they would purchase from their auto dealer or an auto manufacturer. Those who were most interested in imbedded coverage were Millennials and Gen Z, as well as those who say the reason for their auto policy shopping is sub-par customer service.
In the slideshow above, we’ll look at some of the main reasons so many customers are choosing to shop for new auto policies, according to a survey from LendingTree.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.