Good & Not So Surprising News — Consumers Prefer Buying Home & Auto Locally

GOOD & NOT SO SURPRISING NEWS

Consumers Prefer Buying Home and Auto Locally

Duck Creek Technologies talked with people considering an auto or a homeowners policy purchase. It found — no surprise — that people prefer working locally to pick up that insurance.

Close to half looking at homeowners or business insurance want an agent from an agency, and 35% are looking for a broker. Just 35% want to buy directly from an insurer. When it comes to autos and motorcycles, 59% favor working locally with an agent or an agency. Just 28% work through a broker and — sadly — 39% prefer to go direct to an insurer.

One complaint heard very loudly by Duck Creek is how often insurers and agents, brokers, etc. do NOT communicate with them. Unless it’s filing a claim, 32% don’t hear from insurers at all. This is especially true of 35% of consumers buying homeowners insurance.

Just 11% have communication a couple of times annually and 29% only hear from their insurer at renewal time.

The good news is that 69% believe their insurer — though it doesn’t communicate with them — cares about them.

Source: PropertyCasualty360.com

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