Auto and Property Insurance Shopping Continue to Diverge; Both Younger and Riskier Consumers Increase Auto Shopping: Transllnion report reveals the personal lines insurance marketplace shows signs of returning to pre-pandemic levels.
| Date | 24 September 2021 |
* Auto and property insurance shopping continued to diverge in Q2 2021 as factors such as low mortgage rates, pandemic-driven nesting and supply chain disruptions impacted these industries differently. TransUnion's (NYSE: TRU) latest Personal Lines Insurance Shopping Report also found a resurgence in auto insurance shopping for higher risk consumers as well as the Millennial and Gen Z generations.
Throughout Q2 2021, property insurance shopping has consistently been higher than auto insurance shopping. The three-week moving averages for property insurance have generally been between 5% and 15% higher than the previous year. In comparison, the threeweek moving average for auto insurance shopping has been mostly flat to 5% higher than one year ago. During the most recent week included in the report - July 4, 2021 - the three-week moving average for property insurance...
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