What will the changing season be like in 2021? Image by Toby Parsons from Pixabay.
How pronounced is the desire to change in the vehicle change season? This question is crucial for the success of insurers and comparison portals. A current analysis shows that customers are very satisfied with their providers. A boring changing season is ahead.
A study by Getsafe and YouGov shows that only 64 percent of 1,000 respondents have already changed their car insurance at least once. Among the 25 to 34 year olds, 57 percent have already changed their car insurance at least once.
A proud 85 percent of all non-changers say they are satisfied with their providers. Nine percent of those unwilling to change took too long, while the change was “too complex” for two percent.
Of those surveyed for whom a car insurance change would be too complicated, 32 percent said they voted for the CDU / CSU in the 2017 Bundestag election.
Causes of Change
The main reason for a change was the lower cost (65 percent). Millennials chose this reason up to ten percent more often than the elderly. An interesting fact: women change less often and are less interested in reorienting themselves than men.
In the past, many motor insurers have focused on service, but whether this is worthwhile is questionable against the background of the following figures:
What speaks for the industry is how satisfied people are with their provider. The reasons for a change are obviously not weighty enough.
The professional background and education are of lesser importance when it comes to willingness to change. People without a degree change just as often as people with an “apprenticeship or equivalent degree”. Academics change most often.
Obviously, graduation and net income do not correspond to one another. The people with the lowest net income have already changed their car insurance the most frequently (73 percent). The group with a net income of EUR 2,500 to less than EUR 3,000 was the least likely to change.
The people with the highest net income stated most frequently at 35 percent that they had expressly not planned to switch. A fact about the election: At 69 percent, the cost factor was the most important factor for the Greens voters when changing insurance.
Author: VW editorial team
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