Fewer consumers shopped for car insurance in the last year, but among those who looked for coverage, a greater share got at least two quotes, according to a new report from comScore, a global Internet research company headquartered in Reston, Va.
In the last year, 48 percent of consumers shopped for auto insurance, down from 52 percent in 2012. This year was the first time the number of shoppers dropped below 50 percent in five years. The overall number of policies purchased remained flat at 3.1 million.
Of those who shopped, 63 percent obtained at least two quotes, up from 57 percent in 2012, according to comScore. Most consumers prefer to shop online, with 67 percent obtaining quotes from websites, up 1 percent from 2012 and 3 percent from 2011.
Meanwhile, awareness of usage-based insurance is growing. These programs, such as Progressive's Snapshot, use technology to track mileage and driving habits, and then give discounts to customers who log low mileage and drive safely. This year, 40 percent of shoppers are aware of the programs, up from 23 percent in 2009. But of those who know about the programs, only 9 percent have actually opted for a usage-based policy. A quarter of respondents stated that privacy was "very much a concern" when it comes to the programs.
The comScore report is based on a survey of 4,000 consumers conducted in July and August of 2013.