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Can Personal Lines Insurers Capture the Young and the Restless?

Auto and homeowner's insurers would be wise to recruit and lock-in buyers when theyre young, a Deloitte Research survey of personal-lines consumers indicates.

By Sam J. Friedman | Updated on April 25, 2012

It appears we have a real generation gap when it comes to buying auto and homeowner’s insurance. Indeed, a key lesson suggested by the results of recent surveys by Deloitte Research could be summed up with the following advice to personal-lines insurers: Get consumers while they’re young!

Surveys of 1,080 auto insurance consumers and an equal number of homeowners found that the two youngest segments (ages 18-25 and 26-34) were the least inclined to renew their current coverage–and were the ones who shopped their personal-lines business most frequently.

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