Market Trends of United State Car Insurance Industry
Rise In Number Of Traffic Accidents
As traffic accidents increase, demand for car insurance also increases, providing financial security for the damage to the car. Mainly, road accidents occur due to road crashes, traffic injuries, drunk driving, and distracted driving due to speed. As a result, demand for car insurance increases. The National Highway Traffic Safety Administration released that in the current year, 42,795 people died due to car accidents in the United States.
Online Sales Of Car Insurance Drives The Market
Online insurance is one of the largest segments in the United States insurance sector. The rise in digitalization is boosting the growth of online sales in the car insurance sector. Purchasing car insurance online can be done at any time according to the customer’s convenience, and it also saves time. The advantage of purchasing United States car insurance online is that customers can compare the price range from different insurers. And some insurers in the United States provide discounts for customers who purchase car insurance online. Since the United State’s online car insurance is not far behind when it comes to harnessing digital technology to scale the business model, therefore there is tremendous growth in online sales of car insurance in the United States.
