Study Reveals Young Buyers Favor Integrated Car and Insurance Shopping Experience

A new study focusing on younger car buyers, specifically those aged 45 and under, underscores a significant shift towards a seamless car shopping experience that includes integrated insurance options. Polly, an embedded auto insurance provider, conducted the study, revealing that a vast majority of Millennials and Gen Z consumers (80 percent) prefer to combine car and insurance purchases.

The study found that 81 percent of these younger buyers are inclined to buy car insurance simultaneously with their vehicle, and 82 percent prefer to use their smartphones for this purpose. About 65 percent would opt for insurance through an embedded app at a dealership. This trend reflects a broader digital transformation in purchasing habits, with 77 percent of the respondents already aware of the ability to shop for insurance via smartphone apps while car shopping.

The research also indicates that 83 percent of the respondents have purchased other types of embedded insurance in the past six months, demonstrating a growing comfort with integrated insurance solutions. Furthermore, insurance costs play a critical role in car purchase decisions for 63 percent of young consumers, with 76 percent researching car insurance before completing their vehicle purchase.

Mike Burgiss, Chief Marketing Officer at Polly, emphasizes that this trend towards integrated buying experiences is not transient but a new norm, especially among younger consumers. The study suggests a shift in the automotive and insurance industries towards more technologically driven, consumer-centric approaches.