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Shopping for Auto Insurance, New Business Volumes Grow in Q3

New business volume for the period was nearly double that seen in 2019 and outpaced the five-year average.

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Insured shopping grew 10% during the quarter, while uninsured shopping saw negative trends in August and into September. (BLACKWHITEPAILYN/Shutterstock.com) Insured shopping grew 10% during the quarter, while uninsured shopping saw negative trends from August into September. (BLACKWHITEPAILYN/Shutterstock.com)

During the third quarter, auto insurance shopping and new business policy volumes increased, according to LexisNexis Risk Solutions’ Insurance Demand Meter. However, both slowed slightly in August as a result of CARES Act benefits ending as well as hurricanes and wildfires.

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