Shopping Rates Decline in Q1 2022, Unless You are Shopping for Value...
Since the Q4 2021 Loyalty Indicator and Shopping Trends (LIST) report, there has been a decline in both shopping and switching. Some of the slow down may be attributable to a reduction in new vehicle production and yet there is a heightened percentage of customers in the younger generational cohort shopping for insurance when they do buy a car. Additionally, older generations are feeling rate hike pressure leading to their shopping activity. Every generation is seeking more value for their insurance spending.
Read the full LIST Report for more 2022 Q1 auto insurance shopping trends.