J.D. Power finds State Farm ranks highest among large insurers for shopping experience. The Hartford best among midsize insurers. Progressive gaining market share as GEICO raises rates above industry average.
The nation’s auto insurers are locked in a vicious cycle of inflation, rising premiums and steadily increasing customer defection rates. The result, according to the J.D. Power 2023 U.S. Insurance Shopping Study, released today, is a sharper focus on saving money as large numbers of auto insurance customers shop for new policies and switch to new carriers, largely based on price.
“Auto insurance customers are starting to shop for insurance
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