4 consumer policy changes during a challenging insurance market

As Premiums Increase, nearly 70% of Americans Review their Insurance Policies. The New Survey from Trusted Choice® Reveals Consumer Uncertainty and Behavior on Insurance Coverage.  

A full one-third of Americans 32.8% say they are unaware of external economic factors that are affecting insurance rates. 

 Among the study’s key findings:  

  • Higher Deductibles: 46.6% of Americans have considered or already taken a higher deductible to save money on insurance 
  • Going Uninsured: 22% have considered going uninsured to save money. 
  • Making a Switch: 83% would switch insurance providers for lower-cost premiums, while 59.5% would switch for better coverage. 
  • Call My Agent: 56.3% buy insurance through an insurance agent versus 36.3% through an insurance company’s website. 

Be sure to check out the Trusted Choice New Survey for additional details. 

Yet, despite all of these pressures—and a challenging market environment that seems harder with each passing day—there’s something else hidden behind each corner: Opportunity. The 5 Leadership Best Practices to Find Opportunities in a Difficult Market.  Despite all the pressures of the hard market, independent agents willing to take the initiative will find opportunities and grow their books of business. 

In the face of the changing and complex insurance landscape, consumers are encouraged to safeguard their financial well-being actively. Nearly 70% of Americans Are Reviewing Their Insurance Policies.  

Trusted Choice recommends that individuals stay in touch with their agents to ask questions to assess their current coverage, inquire about current market dynamics and evolving premium pricing, and seek guidance on optimizing their insurance portfolios. This initiative-taking approach helps consumers make informed decisions aligned with their unique needs and financial goals. Utilize the tools and resources available to independent agents at www.trustedchoice.com. 


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