Nearly one-third of insurance consumers made changes to their auto insurance policy between March and May 2020 to manage costs at the start of the pandemic. Now, one year later, quoting activity has leveled off as auto insurance shopping patterns return to pre-COVID levels, according to new J.D. Power data. While consumers' quarterly switch rate remained steady at 3.3% in first-quarter 2021, the quarterly quote rate dropped by 11.4% from the prior quarter, says the Quarterly Shopping List report, which J.D. Power produced in collaboration with TransUnion. This drop in activity is not entirely shocking as the economy starts to rebound from the pandemic. At the height of the health crisis last year, about half of auto insurance consumers took action to help manage insurance costs, such as increased shopping, reducing coverages, switching to a new carrier or canceling a policy. "With the promising news of vaccine approvals in November and strong stock market performance, consumer confidence started to improve, which is ultimately reflected in auto insurance shopping," said David Drotos, vice president of insurance solutions at TransUnion, in the report. Additionally, the report identified auto insurers' customer loyalty trends. For instance, Geico was the most quoted carrier in the south, west and northeast regions of the U.S. in Q1 2021, whereas State Farm was the most quoted carrier in the midwest. J.D. Power also tracked the auto insurance carriers that lost or gained customer loyalty based on the percent of current customers shopping in Q1 versus the prior quarter. Click through the above slideshow to reveal these companies. Related: |

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Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].