Get an insider’s view of homeowners choosing to guard what’s likely to be their most valuable material asset: their homes. The following home insurance consumer statistics paint a picture of the homelife, finances, professional profile – and more – of those protecting their homes from unforeseen events. We also examine consumers proactively protecting their assets with renters insurance. Some of these stats and insights may confirm your instincts, while others show just how rapidly consumer behavior evolves.

Our team of experts – or data geeks as we call ourselves – has powered the creation of the stats in this article. Let’s get started!

Homelife

  1. Married couples are 17% less likely to purchase renters insurance.
  2. Single individuals are 34% less likely to purchase homeowners insurance.
  3. Cat owners are 29% less likely to purchase homeowners insurance.
  4. Consumers that are highly likely to use food delivery services are 53% more likely to purchase renters insurance.
  5. Individuals who own 3 or more cars are 62% more likely to purchase homeowners insurance. 

Education & Professional Life

  1. Individuals with bachelor’s degrees are 15% more likely to purchase homeowners insurance. 
  2. Individuals with graduate degrees are 26% more likely to purchase homeowners insurance. 
  3. Educators are 49% more likely to purchase homeowners insurance. 
  4. Individuals in the financial industry are 44% more likely to purchase homeowners insurance, while those in the legal industry are 47% more likely.
  5. Physicians are 48% more likely to purchase homeowners insurance, while Individuals in the professional tech industry are 81% more likely.

Approach to personal finance

  1. Individuals who are likely to have effective control over their finances and spending are 59% more likely to purchase homeowners insurance. 
  2. Individuals who are likely to be concerned with financial planning are 64% more likely to purchase homeowners insurance. 
  3. Individuals who are likely to be utilizing a professional financial advisor are 90% more likely to purchase homeowners insurance. 
  4. Stocks and bonds investors are 68% more likely to purchase homeowners insurance. 
  5. Individuals that are likely to prefer banking online are 54% less likely to buy homeowners insurance.

Media, News, and Politics

  1. Facebook users are 60% less likely to purchase homeowners insurance, while TikTok users are 61% less likely.
  2. LinkedIn users are 29% more likely to purchase homeowners insurance. 
  3. Traditional radio listeners are 59% more likely to purchase home insurance and News program viewers are 67% more likely. 
  4. Democrats are 18% less likely to purchase homeowners insurance, while Republicans are 31% more likely. 
  5. Voters are 86% more likely to be in-market for homeowners insurance, while new voters are 61% less likely. 

Generational Impact

  1. Gen Z is 16% less likely to purchase renters insurance. 
  2. Millennials are 37% less likely to purchase homeowners insurance but are 17% more likely to purchase renters insurance. 
  3. Boomers are 26% more likely to purchase homeowners insurance.

AnalyticsIQ data powers the creation of all the home and rental insurance consumer statistics referenced in this article. Any comparisons that show a comparative lift or decrease in behavior (EX: X% more likely) are predictions compared against the general population.

Want to dig in deeper on homeowners or gain a better understanding of your existing customer base? Check out our Insurance page to access additional resources. At AnalyticsIQ, we love collaborating with organizations to find new ways our data can maximize acquisition and retention strategies, so reach out to us at sales@analyticsiq.com. Let’s talk!

Insurance illustrations by Storyset