Search for lower rates and higher vehicle sales drive consumer shopping for insurance, ultimately changes in market share.
Auto insurance shopping rates were up 12% in Q2 2023, compared to the same time in 2022 according to TransUnion’s (NYSE: TRU) latest quarterly Insurance Personal Lines Trends and Perspectives Report. While vehicle sales played a role in this increase, the search for lower insurance premiums was the primary driver, as the Consumer Price Index for motor vehicle insurance rose 17% in June 2023, compared to June 2022.
TransUnion’s report includes trends in the auto and property insurance industries, as well as
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