Some consumers have stopped looking for new auto insurance policies and have started switching to them instead, according to recent data from JD Power.
The consumer intelligence company’s latest report says that auto insurance second-quarter shopping rates are 12.6%, down less than half a percentage point year-over-year and down one percentage point from the first quarter. Insurance switching has increased around 0.3 percentage points both year-over-year and since the first quarter, the report says. Approximately 4.5% of insureds switched auto policies in the second quarter.
Consumers were most loyal to the North Carolina, Tennessee and Kentucky Farm Bureaus plus Erie and USAA.
“State Farm won the quote and acquisition battle this quarter among auto and home bundlers,” the report says.
