LexisNexis Demand Meter: Auto insurance shopping growth remains elevated in Q2
U.S. consumer auto insurance shopping and new policy growth slowed from Q1 to Q2, while remaining in “warm” territory, according to the latest LexisNexis Risk Solutions U.S. Insurance Demand Meter report.
Despite moderating growth, LexisNexis found that consumers continued shopping at near-record levels. The quarterly year-over-year (YoY) shopping growth rate was 1.4%, down from 3.2% in Q1 2026.
Also in Q2, quarterly YoY growth for new policies was 3.3%, down from 3.6% in the last quarter.
The report notes that U.S. auto insurance rate revisions were relatively balanced between increases, decreases, and neutral adjustments in Q2.
“Among all Q2 auto insurance rate revisions that went into effect, 36% were decreases, 38% were rate increases, and 27% were rate neutral,” LexisNexis says.
By the end of Q2, 47.2% of auto insurance policies in force had been shopped at least once in the previous 12 months.
“In this new market cycle, insurers are still pursuing growth but with greater discipline and clearer guardrails. That makes precision segmentation more critical than ever,” said Jeff Batiste, LexisNexis U.S. auto and home insurance senior vice president and general manager, in a press release.
“U.S. policyholders continue to shop their auto insurance in record volumes, creating new opportunities for carriers. Insurers that marry the right risk with the right rate will be better positioned not only to win new business, but to drive more profitable, sustainable growth over time.”
New York continued to lead all states in auto insurance shopping growth at 13% in Q2, up from 11.8% in Q1. New Jersey ranked second, rising to 12.5%, up from 9.7% in Q1.
LexisNexis notes that, overall, direct channel growth for U.S. auto insurers slowed considerably, declining to 4.6% in Q2 2026 from 9.4% in Q1. The exclusive agent channel also grew in Q2, for a third consecutive quarter. It increased to 6.8% from 5.6% in Q1.
In Q2, older policyholders continued to grow the most in auto insurance shopping, according to LexisNexis. For consumers 66 and older, growth moderated from 7.1% in Q1 to 4.1% in Q2 2026.
For the 14th consecutive quarter, policyholders aged 66 and older recorded the strongest auto insurance shopping growth, according to the report. The group made up 16.7% of shoppers, up 2.1% since Q2 2020. The report states that the same demographic of policyholders who shop their auto insurance policies and have an active home listing may have a higher attrition rate (23.2%) than policyholders without a home listing (19.7%).
“When U.S. consumers feel wallet pressure, it can set elevated auto policy shopping activity into motion,” the release states in reference to the overall Q2 results. “While policyholders en masse may no longer be reacting to blanket insurance rate increases, other reasons to shop, such as increased advertising spend and the convenience of shopping via digital channels, are becoming stronger motivators. As a result, although Q2 U.S. auto insurance shopping volumes may remain near record levels, the factors driving consumers to explore their options are becoming more diverse.”
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