In terms of deciding whether to change personal-lines insurers and which new carrier to choose, price remains the primary—but not only—factor considered by auto and homeowners' consumers.

Indeed, when asked about their decision points when placing auto insurance for the Deloitte Research ”Voice of the Personal Lines Insurance Consumer” surveys, more than two-thirds of the 1,080 respondents said price was either extremely (54 percent) or very (28 percent) influential the last time they changed carriers. The numbers were similar among the 1,080 homeowners surveyed, although a lower share (45 percent) cited cost as extremely influential, along with 30 percent who said the price was very influential.

Interestingly, among the four age segments surveyed, those 26-34 recorded the largest percentage (71 percent) of those ranking the price of auto coverage as extremely influential but also the lowest percentage (31 percent) among homeowner respondents ranking price as important. This could perhaps be explained by the fact that having the right coverage for a home—most likely a young consumer's biggest investment—is simply a more important consideration than price.