auto dealer in black and red logo
MenuMENU
SearchSEARCH

Auto Insurance Shopping Rose in Q3

Trend was more pronounced for the segment than for property insurance.

November 20, 2024
Auto Insurance Shopping Rose in Q3

Baby boomers led the charge on the search for lower priced auto policies, 34% of them looking at other insurers in the quarter.

Credit:

Pexels/Kindel Media

1 min to read


Auto consumers are shopping around more for the best insurance deals, according to a third-quarter TransUnion report that shows those across generations are part of the trend.

Shopping for both auto and property insurance increased in the quarter, though auto insurance led the way with a 19% year-over-year jump, versus 16% for property insurance.

Baby boomers led the charge on the search for lower priced policies, 34% of them looking at other insurers, while 23% of Generation Z shopped, 18% of Generation X and 8% of millennials. 

“It’s important to note that consumers are also switching at significant rates,” said TransUnion Senior Director of Strategic Planning for Insurance Business Patrick Foy in a press release. “This should serve as a reminder to insurers that marketing and digital experiences matter for acquisition.”

A significant 38% of all insurance shoppers have ended up switching carriers in the past six months, while those who don’t find better deals frequently raise their deductibles or opt in for telematics programs in order to lower their premiums, the consumer credit reporting agency said.

DIG DEEPER: Trust Lacking Among Insureds

More Industry

man buckling seatbelt in car with gray interior
Awardsby Lauren LawrenceSeptember 3, 2026

Two New Rides Earn Safety Awards

Thanks to vehicle redesigns, two more vehicles have earned IIHS’ Top Safety Pick+ award that builds on the criteria of the lower Top Safety Pick award.

Read More →
Photo of phone on a surface next to a window
IndustrySeptember 1, 2026

How A Simple Phone Call Can Cause a Dealership Data Breach

Despite the sophisticated techniques fraudsters often employ today to gain access to dealerships’ valuable information, they sometimes use a somewhat old-fashioned approach.

Read More →
front of car dealership Acura of Rio Grande
Industryby Lauren LawrenceAugust 28, 2026

Texas Rooftop Gets New Owner, Name

Family-owned Lumos Auto Group acquired Acura of the Rio Grande Valley from Bill Bird and will operate the dealership as Lumos Acura.

Read More →
Ad Loading...
Businessman in a suit speaking on stage at an event with '2026 CEO Investor Day' displayed in background
Industryby Hannah MitchellAugust 28, 2026

Hyundai Feeling Electric

As the automaker looks to the balance of the decade, it plans to significantly boost its electrified powertrain lineup, including more hybrids and its first extended-range EVs.

Read More →
Auto Dealer Today, Dealer Debrief, 08/26/2026 with Lauren Lawrence
Industryby Lauren LawrenceAugust 26, 2026

Dealer Debrief: Luxury Brands are Losing Ground

The quality gap between luxury and mass-market auto brands is narrowing. Today, Lauren is discussing why.

Read More →
Red Honda Civic hybrid sedan on two lane road with green hills in background
Industryby Hannah MitchellAugust 21, 2026

August Auto Sales a Mixed Bag

An early forecast shows strong business despite consumer hurdles, and hybrids are a big piece of their affordability coping strategy.

Read More →
Ad Loading...
Six men standing in front of a Ford dealership.
Industryby Hannah MitchellAugust 14, 2026

Longtime Ford Store Changes Hands

The Virginia dealership joins a small area automotive group in a one-dealership transaction, moving from one family franchisee to another.

Read More →
car in background with hand giving a thumbs up in front
Industryby Lauren LawrenceAugust 14, 2026

Auto Loan Delinquency Rates Stabilize

Auto loans are a main driver of nonmortgage consumer debt, but delinquency rates stabilized in the second quarter across all credit risk tiers.

Read More →
Arm of mechanice reaching for car with hood open
Industryby StaffAugust 13, 2026

ASE Seeks Accurate Technician Pay, Benefits Data

New free membership trial removes cost barrier for dealerships and shops willing to contribute anonymous information to the industry data exchange.

Read More →
Ad Loading...
Photo of Dodge Durango moving down a road in sunlight
Industryby Hannah MitchellAugust 7, 2026

No Longer Worth the Price?

Mass-market auto brands are gaining ground on luxury competitors with what used to be premium features, helped along by the pressure of high vehicle prices dogging budget-conscious shoppers.

Read More →