Shoppers in the U.S. aren’t ready to accept higher auto insurance rates, choosing to shop around for the best deal and coverage, a new report finds.
U.S. consumer auto insurance shopping activity registered as “Hot” on the LexisNexis Insurance Demand Meter, as quarterly year-over-year shopping grew 2.9% for Q1 2024 (slowing slightly from last quarter’s 4.7% increase year-over-year).
As a result, insurers continue to adjust strategies to retain customers for long-term growth.
