Some Claims About Car Insurance

It may be more a matter of brand inertia than of brand loyalty. But 74 percent of people who have car insurance didn’t shop for a different carrier in the past 12 months, according to Acxiom polling released this month. Seventeen percent did shop, but ended up not changing carriers. Just 9 percent actually switched.

Among those who did go to a new carrier, the poll (fielded in February) found price the chief factor. As you can gather from the chart, insurers’ claim handling — a frequent theme of commercials in this sector — was seldom a factor for those who switched.

Thirty-eight percent of respondents acknowledged being stick-in-the-muds who are “likely to just renew” when their policy is running out. Forty-four percent “check periodically” for better options but will make a move “only if the price is right.” Just 18 percent are “aggressively shopping.”

The survey’s 18-34-year-olds were more likely than their elders to say they would switch carriers “for relatively small differences in their premiums.”

Publish date: May 31, 2010 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT