US Insurance Ownership, by Generation

December 23, 2015

This article is included in these additional categories:

Boomers & Older | Financial Services | Household Income | Youth & Gen X

Nielsen-US-Insurance-Ownership-by-Generation-Dec2015Source: Nielsen [download page]

    Notes: Auto insurance ownership is consistent across generations, exceeding 80% in each case, per data contained in a recent Nielsen report. Millennials are less likely than their older counterparts to have homeowners/renters insurance and life insurance, per the report, although upscale Millennials (household income of at least $75k) have higher rates of auto insurance (88%) and homeowners/renters insurance ownership (81%) than the older generations, and match them in terms of life insurance ownership (48%).

    Not surprisingly, the report shows that Millennials are the least likely to use a local agent to acquire a new policy, review statements, make billing inquiries, and file a claim. By contrast, they’re the most likely to use online channels for those purposes, save fro reviewing statements, for which Gen Xers are the most apt to go online.

      Related: 1 in 6 Insurance Policy Holders Base Buying Decisions on Claims Experiences Found on Social Media

      Explore More Articles.

      Marketing Charts Logo

      Stay on the cutting edge of marketing.

      Sign up for our free newsletter.

      You have Successfully Subscribed!

      Pin It on Pinterest

      Share This