The shaky state of the economy is fueling a new attention by Americans to double-check their insurance policies, according to a survey released by Trusted Choice, the national consumer brand representing the members of the Independent Insurance Agents & Brokers of America.
The survey found more than two-thirds of Americans (69.3%) are currently reviewing their insurance policies, with nearly half (45.8%) citing rising premiums as the primary reason for this second-look.
The survey also determined that nearly half of Americans (46.6%) either considered or have taken a higher deductible to save money on insurance, while roughly one-quarter (22%) have considered going uninsured to save money. And loyalty to an insurer is not a factor with most Americans – 83% of survey respondents said they would switch insurance providers for lower cost premiums, while 59.5% would switch for better coverage.
Still, the human touch is part of the process – 56.3% of the respondents said they buy insurance through an insurance agent while 36.3% buy online through an insurance company’s website.
