The LexisNexis® Insurance Demand Meter

Auto Insurance Shopping Growth Holds in “Warm” Territory

In the second quarter, U.S. auto insurance policy shopping and new business growth largely mirrored Q1. Each remained in “Warm” territory on the LexisNexis® Insurance Demand Meter, posting moderate growth.

• Quarterly year-over-year shopping growth hit 1.4%, down from 3.2% in Q1.
• Quarterly year-over-year new business growth was 3.3%, down from 3.6% in Q1.

Growth trends differed across market segments, with the standard market segment posting growth and the non-standard shopping segment declining.

• The standard shopping segment continued to grow, though at a slower pace.
• Non-standard segment growth declined for the second consecutive quarter.

Shopping growth in the exclusive channel outpaced both the direct and independent distribution channels for the first time since Q2 2022. In Q2 2026:

• Exclusive channel shopping increased 6.8% 
• Direct channel shopping increased 4.6% growth
• Independent channel shopping declined -6.4%

The Annual Auto Insurance Shop Rate Nears the All-Time High

While just shy of Q1’s record annual shop rate of 47.3%, the annual shop rate in Q2 hit 47.2%. This means that nearly half of auto insurance policies-in-force were shopped at least once during the previous 12 months.

• Annual shop rate: 47.2% of policies-in-force were shopped at least once in the past 12 months.
• The market saw the first decline since Q3 2023: down just 0.1 percentage point from Q1’s record 47.3%.

Increases, Decreases and Neutral Rate Revisions Cycle through Market

Second quarter rate adjustments were split fairly evenly between decreases, increases and rate-neutral revisions. The Top 25 U.S. auto carriers enacted a mix of revisions, as well, but their revisions skewed toward decreases and rate-neutral revisions, with a lower share of increases, 30%.

Overall Q2 rate adjustments included:

• Decreases: 36% of revisions, averaging -4.5%
• Increases: 38% of revisions, averaging 5.1%
• Rate neutral: 27% of revisions