Studies show that new policy growth is slowing as premiums begin to stabilize after years of increases. with older drivers leading the shift.
June 24, 2026
Many drivers view car insurance as a one-time purchase, not something to revisit unless a major change forces it. But data from the Q1 2026 LexisNexis® Risk Solutions U.S. Insurance Demand Meter tells a different story: more than 47% of auto policies in force had been shopped at least once in the previous 12 months, marking a significant shift in consumer behavior.
More recently, though, shopping growth and new policy sales have both slowed. The likely reason: car insurance costs may finally be coming down after several years of consistent rate increases.
Here are the biggest auto insurance shopping trends for 2026, based on key findings from the report.
One of the driving factors behind the slowdown in new policy sales and policy growth is the lowering of auto insurance premiums. According to LexisNexis® Risk Solutions, here's how car insurance rate revisions broke down in Q1 2026:
Among the top 25 auto insurers, the trend was even more pronounced, with 42% of rate revisions being decreases and just 26% being increases.
After several years of significant premium hikes driven by things like inflation, rising vehicle repair costs, and supply chain disruptions, we're beginning to see signs of stabilization in some markets. While rates will continue to vary by state, carrier, and individual risk factors, many insurers have adjusted their pricing models to reflect current conditions, which may help moderate future increases.
As rates come down, many consumers are no longer panic-shopping for the cheapest policy, and the data reflect it. In Q1 2026, auto policy shopping growth slowed to 3.2%, down from 6.9% in Q4 2025. New policy growth hit 3.6% for the quarter, down from 7.1% in Q4 2025.
If you haven't shopped for car insurance recently, now is a good time to do so, but a lower premium isn't guaranteed.
"Although premiums are easing in some locations, drivers shouldn't expect broad rate reductions across the board. Factors like weather-related losses and higher litigation costs are still having a big impact on the industry, and may continue to affect insurance costs for consumers," Estrella adds.
One of the most surprising auto insurance shopping trends for 2026 is that senior drivers are the most likely to shop their policies.
Drivers aged 66 and older had a 7.1% year-over-year growth in shopping—the highest of any age demographic. In fact, it’s the 13th straight year in the LexisNexis® Risk Solutions report that older drivers surpassed young drivers in terms of policy shopping.
This trend challenges the traditional assumption that older drivers tend to be the most loyal to their insurers. Older drivers living on fixed incomes could be paying closer attention to recurring monthly expenses, and longtime policyholders may now be realizing that loyalty doesn’t always equal savings.
It also debunks the myth that younger consumers are the most price-sensitive. In Q1 2026, drivers between the ages of 26 and 35 had the smallest growth, with a -0.3% decline in policy shopping.
The way consumers shop for car insurance is changing, too.
Direct shopping channels, where consumers get quotes or buy car insurance online, continued to dominate in Q1 2026, growing 9.4% year-over-year. Meanwhile, independent agent channels declined by 7.9%. Exclusive agent channels (representing a single insurance company) saw moderate growth at 5.6%.
The message is clear—convenience and speed matter when shopping for car insurance in 2026. Consumers want the ability to compare quotes instantly, use digital tools to estimate their insurance needs, and switch car insurance companies without lengthy phone calls or in-person visits.
If you’re wondering whether it’s a good time to shop for car insurance, the answer is probably yes. Stabilizing rates and increased competition among carriers means that you might be able to find a cheaper premium than you’re currently paying.
“In this insurance market, comparing quotes is still one of the most effective ways for drivers to ensure they're getting competitive pricing. We recommend drivers review their insurance options at least once a year and whenever they experience a major life event, like moving to a new state or adding a teen driver to their policy,” says Estrella.
Even if you decide to stay with your current carrier, knowing your options can help ensure you’re not missing out on newly available savings.
Many signs point to auto insurance getting cheaper in 2026. However, rates still vary significantly by state, carrier, and driver profile. To find the cheapest car insurance for your situation, it’s a good idea to compare quotes from a few insurers.
Many older drivers have become increasingly active shoppers because of rising cost sensitivity, better digital access, and growing awareness that loyalty discounts may no longer offset higher renewal premiums.
A good rule of thumb is to get new auto insurance quotes every six to 12 months, or anytime you experience a big life change, like moving states. If your rate goes up after a claim or accident, you can also get new quotes to see if a different insurer can offer you a better rate.
Online car insurance quotes are typically very accurate. However, final premiums may change slightly after insurers verify your driving history, credit score, claims records, and other rating factors that can affect your premium.
It depends on your needs. Direct channels are often faster and easier, but agents can provide personalized advice and help you build a customized policy based on your unique situation and coverage needs.
Elizabeth Rivelli is a business finance and insurance expert at BestMoney.com with over five years of experience covering car, home, life, and health insurance. She has contributed to major outlets such as Investopedia, Forbes, CNN Underscored, U.S. News & World Report, and Bankrate. Elizabeth also partners with insurance companies to provide readers with practical insights into industry trends.
