Skip to content
Contact Us
Contact Us
January 30, 2024

Insights from the 2024 Polly Embedded Auto Insurance Study: Part 4

Embedded insurance insights

The Future of Car Buying: Embedded Insurance 

When you step into a dealership today, you're entering a world of choices. The car you choose is just one piece of the puzzle. Our 2024 Embedded Auto Insurance Study clearly shows just how much Total Cost of Ownership (TCO) has become the guiding star for modern car buyers. It's not merely about the upfront cost but understanding the long-term financial commitment. Fuel, maintenance, insurance, and depreciation—these are all part of the TCO equation. 

63% of car buyers consider the cost of car insurance to be very important in their purchase decision. This finding puts insurance on par with other crucial factors, like the latest car technology. It highlights a shift where affordability and practicality are taking center stage. 


Gen Z and Millennials are leading the TCO trend, and they view insurance as an integral part of the process and are comfortable with embedded insurance options at the dealership. About 65% of them express their readiness to purchase insurance via an embedded app right at the dealership. This aligns almost perfectly with the 66% who are equally comfortable with the traditional phone call approach. 

So, what's the future of car buying? It's a landscape where TCO is king, and embedded insurance is the norm. Dealerships are becoming destinations for comprehensive solutions, not just car sellers. It's about efficiency, convenience, and a seamless experience from start to finish. 

Implications for Dealers: 

  1. Be Part of the Affordability Solution: The affordability crisis isn't going away anytime soon. Dealers who are part of the solution can become allies to car buyers by providing them with ways to save money on other aspects of their purchase, like insurance. In short, tools that help customers save money while purchasing their vehicle can help close deals.
  2. Embrace Embedded Insurance: Millennials and Gen Z are adopting embedded insurance products. Given that 83% of these groups have recently purchased other types of embedded insurance, dealerships should investigate embedded auto insurance offerings. These tools can offer a comprehensive digital experience, bridging the gap between buying the vehicle and buying insurance.
  3. Think Holistically: Automotive, insurance, and macroeconomic trends are interrelated, and it pays for dealerships to think holistically. Those who aim to provide an all-encompassing car-buying experience – integrating vehicle specifications, financing options, insurance, and post-sale services – will have an advantage over those who do not. 

The future of car buying is here, and it's driven by the Total Cost of Ownership and the demand for embedded insurance. It's an exciting journey, and we're here to explore it every step of the way.

Download the full 2024 Polly Embedded Auto Insurance Study, and stay tuned for more insights, trends, and innovations in the ever-evolving world of car buying and insurance. 

New call-to-action

Ben Jastatt

Ben is Polly's Senior Director of Marketing Communications. For more than a decade, Ben has led communications and marketing teams within the automotive and technology space. He currently leads the Polly marketing communications and brand functions.

Other posts you might be interested in

View All Posts