- Rising prices drive increased shopping, decreased satisfaction: Among home insurance customers who receive an insurer-initiated rate increase, 37% are likely to shop for a new policy. The top reason given among those actively shopping new home insurance carriers is high rates.
- Shopping does not always result in switching: While a record 6.8% of all home insurance customers are actively shopping for new polices, just 2.2% of homeowners switched policies as a result, down from 2.5% two years ago.
- Bundling declines as intent to unbundle increases: Bundling home and auto policies has declined significantly in 2024 compared with 2023, but there is growing intent to switch auto insurance without switching home insurance. Specifically, 21% of customers say they "definitely will" also switch their home insurance if they switch their auto insurance, which is down from 24% a year ago.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.