Report: Number of U.S. Auto Insurance Quotes Requested Online Fell 5% in 2012
A new report from comScore offers a look at the state of the online auto insurance market in the U.S. One of the findings is that the number of quotes submitted online dipped in 2012, though more shoppers are getting more than one quote.
According to comScore’s “2013 Online Auto Insurance Shopping Report,” 48 percent of respondents say they have shopped for auto insurance in the past year, marking the first time in five years that the response was lower than 50 percent.
The company notes that the percentage of consumers who indicated serious consideration of switching their auto insurance policy remained relatively flat, and that the number of respondents who say they’re open to the idea of purchasing auto insurance policies is up 1 percent from last year.
comScore also found that the total number of auto insurance quotes submitted online fell 5 percent year-over-year in 2012, though the number of policies purchased online remained flat at 3.1 million.
Though fewer consumers are shopping for auto insurance and getting quotes, 63 percent of consumers who shopped for auto insurance online within the past year got 2-3 quotes, up from 57 percent who did the same in 2012.
The report also notes that awareness of “pay as you drive” (PAYD) insurance has more than doubled since 2009, with 40 percent of respondents saying they’re aware of the option. While 40 percent of shoppers are aware of PAYD, only 9 percent have actually purchased a PAYD policy.
