Consumers Split Over Online Auto Insurance Shopping

U.S. consumers are equally divided over their car insurance shopping preference. A recently released study shows about one-third of Americans prefer to purchase their auto insurance from a local agent; one-third want to shop online; and the other third can go either way.

The survey results reveal vastly different insurance shopping habits, depending on certain consumer characteristics:

1. Youthful operators versus experience drivers: Younger drivers are far more likely to shop for car insurance online. Over half of those 18-25 opt for the online experience; 30 percent of those surveyed between 26-40 prefer to shop online for car insurance; 27 percent of those between 41-50 years old prefer to shop online; and for those 51-60, about 30 percent say they will do their car insurance shopping online.

2. Homeowners versus renters: About 35 percent of those surveyed who rent their home say they will shop online for car insurance. Only 25 percent of consumers who are homeowners say they prefer to shop online. These results vary by location, since there are typically more renters in a more highly poplated metropolitan area. Also, since more renters fall into a younger demographic, that has an impact on the results, as well.

3. Married versus single: When comparing families against single consumers, 45 percent of the family shoppers opt for the local agent, and 37 percent of single motorists prefer to buy from a local agent. Age has an impact on this demographic group, as well.

The survey was conducted between October 2010 and December 2010. The survey was only offered online, which may have had an impact on the results.