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Who Buys Source

Research by J.D. Power and Associates determined that 30% of auto insurance customers shopped for a new provider in 2013, among whom 36% ultimately switched carriers.

J.D. Power and Associates, 2014

According to a survey conducted by the Deloitte Center for Financial Services, 53% of the respondents said they would allow their driving to be tracked via a mobile device in exchange for premium discounts based on their performance (also known as pay-as-you-drive, usage-based coverage). Younger drivers, ages 21-29, are the most open to data tracking, at around 66%, compared 44% for those 60 and older.

The Detroit Bureau, 2014

Profiling adults 18+ who have any form of auto insurance, along with those consumers who acquired a new or different auto insurance policy in the last 12 months:

GfK MRI, 2013

Of those adults 18+ who have some form of auto insurance, 51.0% are women and 49.0% are men.

GfK MRI, 2013

Adults 18+ who have any type of auto insurance, by age level: 18-24, 11.1%; 25-34, 17.3%; 35-44, 17.5%; 45-54, 19.8%; 55-64, 16.8%; 65+, 17.5%.

GfK MRI, 2013

Adults 18+ who have any form of auto insurance, by income bracket: $100,000+, 28.3%; $75-99,999, 14.8%; $60-74,999, 11.6%; $50-59,999, 8.5%; $40-49,999, 8.8%; $30-39,999, 9.5%; $20-29,999, 9.0%; under $20,000, 9.5%.

GfK MRI, 2013

Adults 18+ who have any type of auto insurance, by race: White, 79.3%; Black, 8.7%; Other, 12.0%; Hispanic origin, 12.1%.

GfK MRI, 2013

Adults 18+ who have any form of auto insurance, by region: Northeast, 17.0%; Midwest, 22.7%; South, 37.5%; West, 22.8%.

GfK MRI, 2013

Adults 18+ who have some type of auto insurance, by marital status: Single, 23.7%; married, 58.4%; separated/widowed/divorced, 17.9%.

GfK MRI, 2013

Of those adults 18+ who acquired a new or different auto insurance policy in the last year, 50.3% were men and 49.7% were women.

GfK MRI, 2013

Adults 18+ who acquired a new or different auto insurance policy in the past year, by age bracket: 18-24, 13.9%; 25-34, 21.5%; 35-44, 19.6%; 45-54, 18.6%; 55-64, 14.1%; 65+, 12.3%.

GfK MRI, 2013

Adults 18+ who acquired a new or different auto insurance policy in the last 12 months, by income level: $100,000+, 25.8%; $75-99,999, 14.4%; $60-74,999, 12.2%; $50-59,999, 10.1%; $40-49,999, 9.1%; $30-39,999, 10.1%; $20-29,999, 9.0%; under $20,000, 9.3%.

GfK MRI, 2013

Adults 18+ who acquired a new or different auto insurance policy in the last year, by race: White, 79.6%; Black, 8.1%; Other, 12.3%; Hispanic origin, 13.3%.

GfK MRI, 2013

Adults 18+ who acquired a new or different auto insurance policy in the past year, by region: Northeast, 16.0%; Midwest, 22.9%; South, 39.6%; West, 21.5%.

GfK MRI, 2013

Adults 18+ who acquired a new or different auto insurance policy in the past year, by marital status: Single, 26.0%; married, 56.4%; separated/widowed/divorced, 17.6%.

GfK MRI, 2013

Research by comScore indicated that 48% of consumers shopped for auto insurance in 2013, the first time in five years that the number of insurance shoppers dipped below 50%.

comScore, 2013

When They Buy Source

Insurance activity is reflected in monthly sales figures for all new and used vehicle dealers (3-year average, 2011-2013): January, 7.3%; February, 7.8%; March, 9.0%; April, 8.4%; May, 8.8%; June, 8.4%; July, 8.6%; August, 9.0%; September, 8.0%; October, 8.2%; November, 7.9%; December, 8.6%.

U.S. Department of Commerce, 2014

A report from insuranceQuotes.com found that December was the cheapest month to buy auto insurance in 2013, while March was the most expensive month.

insuranceQuotes.com, 2014

Why They Buy Source

Based on a study by J.D. Power and Associates, the three primary drivers of overall satisfaction among customers who have recently purchased auto insurance are (in order of importance): 1. Price; 2. Distribution channel; 3. Policy offerings.

 

J.D. Power and Associates, 2014

Based on a 2014 study commissioned by insuranceQuotes.com, the average national premium increases in auto insurance for each of these seven traffic moving violations: DUI, 93%; reckless driving, 82%; careless driving, 27%; speeding 1-15 mph over the limit, 21%; speeding 16-30 mph over the limit, 28%; speeding 31+ mph over the limit, 30%; failure to stop, 19%; failure to yield to pedestrians, 19%; driving in a carpool lane, 18%.

insuranceQuotes.com, 2014

A 2014 study by J.D. Power and Associates found that increases in premiums do not cause policy-holders to shop for a new carrier as much as poor customer experience. Customers who experience a premium increase shop at a rate of 13% -- less than half the rate of shopping among those who have had a poor experience (28%).

J.D. Power and Associates, 2014

A 2014 survey by J.D. Power and Associates found that customers are tolerant of a certain level of auto insurance rate increases. However, rate hikes of more than $200 can triple the rate of customers who switch carriers.

J.D. Power and Associates, 2014

How They Buy Source

According to a 2014 study by Insure.com, states with the lowest average annual vehicle insurance rates: 1. Ohio, $926; 2. Maine, $964; 3. New Hampshire, $983; 4. Idaho, $1,053; 5. Iowa, $1,058; 6. North Carolina, $1,060; 7. Wisconsin, $1,087; 8. Virginia, $1,114; 9. Vermont, $1,149; 10. New York, $1,173.

Insure.com, 2014

Based on 2014 research by Insure.com, states with the highest average annual vehicle insurance premiums: 1. Michigan, $2,551; 2. West Virginia, $2,518; 3. Georgia, $2,201; 4. District of Columbia, $2,127; 5. Rhode Island, $2,020; 6. Montana, $2,013; 7. Louisiana, $1,971; 8. California, $1,962; 9. New Jersey, $1,905; 10. Florida, $1,830.

Insure.com, 2014

A 2014 study commissioned by insuranceQuotes.com showed that car insurance premiums, on average, can vary by more than 50% based on age, gender and marital status of drivers. For example, a 25-year-old single male will pay 49% less for car insurance than a 20-year-old single male driver. Similarly, a 25-year-old single female driver will pay 39% less than a 20-year-old single female.

insuranceQuotes.com, 2014

What They Buy Source

According to a 2014 J.D. Power survey, on average, customers saved $300 when switching auto insurers in the previous 12 months. The longer customers had been with their previous insurer, the greater the savings when they switched carriers, likely due to rate increases they had experienced. Customers who were with their prior insurer for 11 years or longer before switching saved an average of $426 per year on their premiums, compared with $291 for those who had been with their previous insurer less than two years before switching.

J.D. Power and Associates, 2014

Auto insurance policies may include six types of coverages (each is priced separately): Bodily Injury Liability; Medical Payments or Personal Injury Protection (PIP); Property Damage Liability; Collision; Comprehensive; Uninsured and Underinsured Motorist Coverage.

Insurance Information Institute, 2014

According to a study by Insure.com, 2014 vehicles that cost the least to insure: 1. Jeep Wrangler Sport; 2. Hondy Odyssey LX; 3. Jeep Patriot Sport; 4. Honda CR-V LX; 5. Jeep Compass Sport; 6. Chrysler Town & Country Touring; 7. Subaru Outback 2.5i; 8. Dodge Journey SE; 9. Honda Odyssey EX; 10. Dodge Grand Caravan SE.

Insure.com, 2014

Based on a study by Insure.com, 2014 vehicles with the highest insurance rates: 1. Nissan GT-R Track Edition; 2. BMW M6; 3. Mercedes CL550 4Matic AWD; 4. Mercedes SLS AMG GT; 5. Porsche Panamera Turbo S 6. Audi R8 5.2 Spyder Quattro; 7. Mercedes G63 AMG; 8. Audi A8L 6.3 Quattro; 9. Jaguar XKR Supercharged; 10. Jaguar XK.

Insure.com, 2014

A 2014 study by Insure.com determined how often various types of auto insurance discounts are offered: Good Student, 77%; Concurrent Home Policy, 68%; Payment Type, 46%; Marital Status, 41%; Driver Training, 41%; Use of Car, 40%; Concurrent Life Policy, 37%; Persistency/Renewal Months, 36%; Electronic Funds Transfer, 34%; Days Advanced Purchase, 26%; One-Way Commute, 22%; Residence Type/Occupancy, 21%; Annual Mileage, 13%; Days Per Week Driven, 8%; Vehicle Ownership, 7%; Attained Degree, 6%.

Insure.com, 2014

According to a 2014 report by Insure.com, the average amounts saved through various auto insurance discounts: Good Student, 16%; Marital Status, 14%; Annual Mileage, 11%; Use of Car, 10%; Concurrent Home Policy, 9%; Payment Type, 9%; Days Advanced Purchase, 8%; Residence Type/Occupancy, 6%; Persistency/Renewal Months, 6%; Concurrent Life Policy, 4%; Electronic Funds Transfer, 4%; Attained Degree, 4%; Vehicle Ownership, 4%; One-Way Commute, 4%l; Days Per Week Driven, 4%. 

Insure.com, 2014

Where They Buy Source

Based on their ability to satisfy auto insurance buyers in the areas of price, distribution channel and policy offerings, the following major auto insurance carriers all finished at or above the industry average of 821 in J.D. Power and Associates' 2014 Insurance Shopping Study: USAA, 876; Erie Insurance, 843; MetLife, 839; State Farm, 839; American Family, 835; Ameriprise, 835; The Hartford, 834; Liberty Mutual, 833; Automobile Club Group, 827; Esurance, 826; Auto Club of Southern California Insurance Group, 825; GEICO, 825; Allstate, 823; Nationwide, 821.

 

J.D. Power and Associates, 2014

According to Insure.com's annual rankings of auto insurance companies, based on customer satisfaction, the top 10 insurers in 2014: 1. USAA; 2. State Farm; 3. Farmers; 4. GEICO; 5. (tie) Auto Club of Southern California and Nationwide; 7. Liberty Mutual; 8. Allstate; 9. American Family; 10. The Hartford.

Insure.com, 2014

Based on a 2014 study by Insure.com, states with the greatest number of available auto insurance discounts: 1. Missouri; 2. Connecticut; 3. Indiana; 4. Wisconsin; 5. Iowa; 6. Kansas; 7. Oklahoma; 8. Nebraska; 9. (tie) Kentucky and Pennsylvania; 11. Ohio; 12. Arizona; 13. Alabama; 14. Colorado; 15. (tie) Maryland, South Carolina and New Mexico.

Insure.com, 2014

Based on a 2014 study of the 125 largest cities in the U.S., those that pay the most for car insurance in average annual premiums: 1. Detroit, MI; 2. New Orleans, LA; 3. Grand Rapids, MI; 4. Newark, NJ; 5. Baton Rouge, LA; 6. Hialeah, FL; 7. Jersey City, NJ; 8. Louisville, KY; 9. Miami, FL; 10. Philadelphia, PA; 11. Shreveport, LA; 12. Chicago, IL; 13. New York, NY; 14. Boston, MA; 15. Tampa, FL.

NerdWallet, 2014

According to SNL Financial, the leading private auto insurers, based on direct premiums written during the third quarter of 2013 (totals in billions): 1. State Farm, $8.724; 2. GEICO, $4.886; 3. Allstate, $4.651; 4. Progressive, $3.893; 5. Liberty Mutual, $2.505; 6. Farmers Insurance, $2.504; 7. USAA Insurance Group, $2.443; 8. Nationwide Mutual Group, $1.972; 9. Travelers Companies, $0.925; 10. American Family Mutual, $0.877.

Insurance Journal, 2013

Based on research by comScore, the number of auto insurance quotes submitted online decreased 5% in 2013, while the number of policies purchased online remained flat.

comScore, 2013

Business Trends Source

Personal auto insurance companies increased their rates by an average of 2.5% nationwide in 2013, according to figures compiled by Perr&Knight's RateWatch. The 2013 increase was in line with a five-year trend of annual average rate increases between 2% and 4%, and was lower than the 2012 countrywide increase of 3.7%.

Insurance Journal, 2014

Based on data compiled by Perr&Knight's RateWatch, the five states with the highest overall auto insurance rate increases in 2013 were Michigan at 8.6%, Georgia at 5.2%, New York and Delaware at 4.3% each, and Nevada at 4.1%. No states experienced an overall reduction in rates between 2012 and 2013.

Insurance Journal, 2014

A 2014 survey by insuranceQuotes.com revealed that car insurance premiums in certain states can vary significantly from month to month. States with the greatest variance in 2013 (percent difference between the most and least expensive months when policies are purchased): Hawaii, 47.9%; Wyoming, 39.7%; District of Columbia, 35.3%; Maryland, 34.8%; Pennsylvania, 34.5%; Virginia, 31.2%; Texas, 28.5%; Maine, 26.5%; Nebraska, 25.3%; Mississippi, 23.3%; Arizona, 22.7%; Florida, 22.5%. States with the least variance in policy costs: South Dakota, 3.7%; Arkansas, 4.4%; Utah, 4.9%; Iowa, 5.7%; Kansas, 5.8%; Alabama, 6.8%; Idaho, 7.4%; Oklahoma, 7.5%; Wisconsin, 8.8%; North Dakota, 9.0%; Connecticut, 9.2%; Tennessee, 9.2%. 

insuranceQuotes.com, 2014

Average car insurance premiums vary considerably by state for a variety of reasons -- including the number of urban areas, traffic conditions, state insurance laws, the percentage of drivers who are uninsured, auto thefts, and the number of car insurance companies competing for business.

Insure.com, 2014

According to the National Association of Insurance Commissioners, risks and costs for auto insurers differ by state, as well as by various zip codes within those states. For instance, the risks faced by drivers and their insurers are very different in an urban state versus a less congested, rural state. The result is that insurance rates will fluctuate in ways that reflect each state's unique demographics and geography.

National Association of Insurance Commissioners, 2014

In 2012, the average auto liability claim for property damage was $3,073, while the average auto liability claim for bodily injury was $14,653. Also in 2012, the average collision claim was $2,950, and the average comprehensive claim was $1,585.

Insurance Information Institute, 2013

In 2012, less than 1% of people with liability insurance had a bodily injury liability claim, while 3.5% of those with liability insurance had a property damage liability claim. Also in 2012, 5.6%of collision insurance policy-holders had a claim, while 2.6% of consumers with comprehensive coverage had a claim.

Insurance Information Institute, 2013

Misc Source

According to an annual study by Allstate Insurance, which measures the likelihood of drivers having accidents in America's 200 largest cities, the 10 areas with the safest drivers: 1. Fort Collins, CO; 2. Boise, ID; 3. Sioux Falls, SD; 4. Brownsville, TX; 5. Madison, WI; 6. Reno, NV; 7. Huntsville, AL; 8. Visalia, CA; 9. Montgomery, AL; 10. Eugene, OR.

Allstate Corporation, 2013