Online Auto Insurance Shopping Grows in Popularity
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Shopping for and purchasing auto insurance online is growing in popularity, according to the comScore 2011 Online Auto Insurance Report released last week.
In 2009, online insurance quote submission and purchasing saw a dramatic increase of 21 and 22 percent, respectively, from 2008.
The numbers held pretty steady in 2010, with quotes submitted down three percent, but purchases made online up one percent.
While the numbers aren’t much better than 2009, 32 percent of respondents who reported not having made an online auto insurance policy purchase in the past said they would be more likely to do so in the future.
And only 22 percent said they would be unlikely to do so, down from 39 percent in 2009.
Using a Local Agent Still Most Popular
However, 43 percent still said they went with a local insurance agent to purchase their auto insurance, which is down from 49 percent in 2009.
But 20 percent of respondents purchased their policies online, up from 15 percent two years ago.
So clearly there’s a shift in consumer sentiment to go online to both shop for and obtain auto insurance coverage.
Using an independent agent allows you to receive multiple quotes from a variety of companies, while captive agents can only provide you with a quote from the single company they represent.