Insure.com, a provider of information on life insurance, home insurance, health insurance and auto insurance, issued the following news release:
Insure.com surveyed more than 1,200 millennial auto insurance customers on the top 20 car insurers to find out which auto insurance companies are best at meeting those drivers' needs. We asked their opinion about:
* Value for price
* Customer service
* Claims satisfaction
* Usefulness and ease-of-use for the website and mobile apps
* If they plan to renew
* If they would recommend
Insure.com experts analyzed the results and weighted the categories to find the top insurers according to millennials. The top five are found below.
The research also includes rankings for how millennials rated their car insurers' rates, claims processing, customer service and website and/or app.
While millennials are known for enjoying the benefits of the digital age, surprisingly, they prefer to interact with an insurer over the phone (38%) or in-person (23%). Only 20% favor using the insurer's website and even less prefer using the mobile app (10%). A mere 9% would choose email.
Multiple questions that were not used for rankings were asked including: (1) How much they spend on auto insurance (2) Why they purchased a policy from their insurer over other companies and (3) How much they would need to save to switch insurers.
Cost plays a vital role for millennials when choosing auto insurance. It's clear to see why. Car insurance tends to be more expensive for young drivers (57% of millennials spend between $500 and $1,499 annually). Insure.com, the one-stop destination for unbiased, expert advice on health, life and home insurance, found that about 30% would switch insurers if another company offered coverage for $250 less a year. Nearly 26% would switch insurers if it would save merely $100 over the course of a year.
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Insure.com is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. QuinStreet is committed to providing consumers and businesses with the information and tools they need to research, find and select the products and brands that meet their needs. Insure.com is a member of the company's expert research and publishing division.