Report: Millions of Auto Insurance Quotes Submitted Online in 2010

The latest survey of the online auto insurance environment by consumer-research company comScore shows that activity for online coverage sites has remained healthy in recent years, though there was little growth in activity between 2009 and 2010.

Growth in annual number of online car insurance quotesAccording to comScore, approximately 37 million online auto insurance quotes were submitted in the United States last year, and 2.9 million policies were purchased on the Web during the same period.

Compared with 2009, those numbers represent a 3 percent decline in total quotes submitted and a 1 percent increase in the number of policies purchased.

The total volume of quotes submitted has increased by about 9.5 million since 2006, and the total volume of policies purchased online increased by about 1.3 million during the same period.

Despite the large growth over the past five years, some may be underwhelmed by the percent change for 2009-2010. While activity has mostly been sustained, the industry saw a huge surge in activity between 2008 and 2009. During that period, the annual number of insurance quotes submitted and purchased over the Web each increased by more than 20 percent.

The consumer-research company also polled thousands of consumers to find out how they purchased auto coverage in 2009 and 2011.

The largest portion (43 percent) of respondents still purchase policies through local insurance agent offices. But the use of this method is on the decline. The percentage of respondents who use local agents dropped 6 percentage points between 2009 and 2011.

The portion of respondents using the Internet as their method of purchasing policies, meanwhile, gained 5 percentage points during that period. One-fifth of respondents purchased coverage online in 2011.

The rest of the respondents purchased coverage with a local agent over the phone, through a toll-free number or through work.

About Matthew Morisset
Matthew Morisset is a proud alumnus of the University of Redlands, where he obtained a degree in English Literature. Utilizing his passion for analysis and writing, Matthew looks for important trends in the auto insurance industry and their implications for consumers and the market as a whole.

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