Majority of Consumers Satisfied With Auto Insurance, But Many Still Shopping for Price: IRC Survey

June 16, 2015

The majority of insured drivers are satisfied with their current auto insurance company, according to a recent public opinion survey, but many are still shopping for a better price.

The survey by the Insurance Research Council (IRC) found that 86 percent of insured drivers who responded were satisfied with their current auto insurance company. However, despite such a high level of consumer satisfaction, 1 in 4 respondents who own at least one vehicle said that they had shopped for auto insurance during a recent 12-month period, and 80 percent of those who shopped said they did so primarily to see whether they could get a better price for coverage. Only one-third of those who shopped for insurance actually changed to a different insurance company.

Of respondents who shopped for insurance, 71 percent accessed the Internet for information. Desktop computers had the highest usage rate, with 48 percent of shoppers who own a desktop computer saying they used it to shop for insurance, followed by laptops (39 percent), smartphones (19 percent) and tablets (13 percent).

Other key findings from the survey:

The report, “Shopping for Auto Insurance and the Use of Internet-Based Technology,” is based on an online survey of 1,168 respondents by GfK Public Affairs & Corporate Communications on behalf of the IRC. The survey was conducted Sept. 24-Oct. 13, 2014. Survey data were weighted to the United States population of adults aged 18 and above.