Despite inflation and rising costs, most Americans would rather pay more for insurance coverage than use data monitoring devices, according to an annual survey by Policygenius.
The survey found that 68% of US consumers said they would not install an app that collects driving behavior or location data for any insurance discount amount, up from 58% in 2021. Among of those who want to download a data collection app, 67% said they would only do so if their prices were cut by more than half.
Similarly, 65% of respondents said no discount was worth installing a smart home device – for example, a doorbell camera, water sensor or smart thermostat – if those devices shared data with their insurance companies, compared to 57% in 2021.
Other survey results:
- 68% of respondents would not install a live dash cam for any amount of insurance discount. For those who said they would install a dashcam, 74% would only do so if it would cut their bill by at least half.
- 77% of respondents would not install a smart doorbell camera that shares facial recognition data with third parties for any home or renters insurance discount amount, an increase from 67% in 2021. Of the 23% willing install smart doorbell cameras, 68% of people would only do so if the cost of their home insurance was at least halved.
- Of the 35% of landlords and renters willing to install smart home devices for insurance discounts, 69% would only do so for a reduction of half their bill or more.
“While policyholders can often obtain lower insurance rates by agreeing to share personal information about their day-to-day activities with their insurers, it is clear that consumers are extremely uncomfortable with allowing data-sharing devices. data in their daily lives,” Andrew Hurst, Chartered P&C Insurance Adjuster. to Policygenius, said in a statement. “For consumers looking for a way to cut costs without sharing their data, shopping in the marketplace with an independent broker continues to be a great way to save on insurance.”
About the survey: Policygenius asked Google Surveys to interview a nationally representative sample of 1,500 home, car, or renters insurance policyholders aged 25 and older, from July 18, 2022 through August 10, 2022. The margin of error average for 2022 responses is +/- 5.5. %. For 2021 data, it is +/- 3.2%. You can see more data and the full methodology in the Policygenius 2022 Home & Auto Insurance Technology Survey.
Based on automatic data in the United States
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