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  • Writer's picturemckenzie.rabenn

What a Large Insurance Rate Increase in 2023 Means for Your Agency

Digital marketing will be crucial for insurance agents looking to grow their book of business this year

With an increase of drivers on the road and extreme weather patterns, car owners are in for a rude awakening when insurance renewal arrives this year. A new report found that car insurance rates are expected to increase by 8.4% across the U.S. this year. This is the largest rate increase the country has seen in six years. For reference, last year's rate increase jumped only 1.3%.


According to JD Power, rate increases account for one of the largest drivers of new insurance policy shopping. Indeed, even with last year's rate increase (1.3%) we saw an influx of people price shopping. Can you imagine the amount of people shopping for new insurance with a 8.4% rate increase?


With a high volume of people shopping for insurance it's important to understand customer's insurance shopping habits.


When shopping for new insurance companies, many consumers do not have a company in mind. Often, they will turn to Google to run an internet search to assess their options. When they get to the search bar, a majority of consumers will type some form of "insurance near me". It is crucial that your business shows up on the first page of this search because 75% of people never go to the next page.


How do you ensure your agency makes it on this first page? Using a combination of Google Ads and Local SEO you can show up high in maps and organic search results. If that sounds like a lot of work, it's because it is! Likely, this is not something you have time for.


Insert, On the Grid. For a monthly fee we will manage your Google Ads and Local SEO so you show up on that first page and get more leads than ever this year.

 


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