U.S. auto insurance customers shopping for better rate despite high satisfaction with their insurance companies; Internet devices being used

Satisfaction among surveyed auto insurance customers in the United States may be high, but a quarter of respondents still report shopping around, mostly in a bid to secure a better rate, notes the Insurance Research Council (IRC).

In all, 86% of insured drivers responding to a recent public opinion survey commissioned by IRC say they are satisfied with their current auto insurance company, note poll findings, detailed in Shopping for Auto Insurance and the Use of Internet-Based Technology.

Even so, about a quarter of respondents who own at least one vehicle report they had shopped for auto insurance during a recent 12-month period, states IRC, a division of the American Institute For Chartered Property Casualty Underwriters.

Conducted by GfK Public Affairs & Corporate Communications, the online survey of 1,168 respondents was carried out between September 24 and October 13, 2014. Survey data were weighted to the U.S. population of adults aged 18 and above, the company reports.

In all, IRC points out that 80% of respondents who shopped say they did so primarily to see if they could get a better price for insurance coverage, while 33% who shopped for insurance actually changed to a different insurance company. [click image below to enlarge]

Shopping around was likely made easier by the availability of Internet devices. The findings show 71% of respondents who shopped for insurance say they accessed the Internet for information.

Noting that multiple responses were allowed, the findings show 63% of respondents own a laptop computer and 39% used the device when shopping for auto insurance; 48% own a smartphone and 19% used the device when shopping; 49% own a desktop computer and 48% used the device when shopping; and 34% own a tablet and 13% used the device when shopping.

“These findings attest to the highly competitive nature of personal auto insurance markets and the degree to which consumers are using the Internet and personal Internet devices to comparison shop,” Elizabeth Sprinkel, IRC’s senior vice president, says in the council statement.

“Consumers are armed with more information than ever before, thanks in large measure to widespread device ownership and Internet access,” Sprinkel adds.