The final quarter of 2021 saw the rate of personal auto insurance shopping drop to minus 5.9% compared with minus 3.9% during Q3 2021, according to LexisNexis Risk Solutions Insurance Demand Meter.
The rate of new policies written declined to minus 6.9% during Q4 2021 when compared with the same period the year prior. However, this was an improvement from the third quarter of 2021, which saw new policy “growth” of minus 7.3%, a two-year low, according to LexisNexis.