Chicago (September 30, 2009)–People may not be happy with auto manufacturers, but they sure are satisfied with auto insurers. A new survey from Mintel Comperemedia, a service that provides direct marketing competitive intelligence, reveals one in two people (50%) have been with their current auto insurance provider for more than five years. Another 21% have a two- to five-year history with their present company.
Customers aren’t just loyal, they’re happy. Mintel Comperemedia asked survey respondents whether they’d recommend their current auto insurer to friends and family, and half (49%) said they definitely would. Another 31% said they’d probably recommend the company.
“Auto insurers are clearly doing something right, because the overwhelming majority of customers feel satisfied by their current provider,” states Daniel Hayes, VP of insurance services at Mintel Comperemedia. “Most people aren’t shopping around for auto insurance frequently, and even when they do, it takes significant change in cost or customer service to make them switch.”
Six in 10 adults (62%) told Mintel Comperemedia they comparison shop for auto insurance less than once a year, with 29% saying they never shop around.
Getting a bill is the top reason people compare auto insurance companies: 48% of those who’ve shopped around say they did so upon receiving a bill and thinking they might be able to find a better rate or coverage elsewhere. People also consider customer service and agent accessibility important. Half (51%) say they would comparison shop if they were dissatisfied with customer service, while 45% say they’d do so if their current agent wasn’t accessible enough.
“People comparison shop for auto insurance primarily to save money or find better customer service. Because so many people are satisfied, however, companies need to find ways to make people question their current coverage. TV and direct marketing remain important vehicles for planting that idea in a consumer’s mind,” comments Daniel Hayes.
Among people who have comparison shopped for auto insurance, 25% did so in response to a TV ad and 23% did so in response to direct mail.
Interested in more findings from Mintel Comperemedia’s tracking survey about insurance ownership and attitudes towards providers? Contact info@comperemedia.com.
Visit Mintel Comperemedia (Booth 3022) at the DMA09 Conference & Exhibition, October 17-22 in San Diego, CA: http://mydma09.bdmetrics.com/CDT-6269788/Comperemedia/Details.aspx

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