If you were one of the 3,830,493 consumers who tuned-in to a Philadelphia radio station last week, then chances are you heard at least one commercial from GEICO, Progressive, or Liberty Mutual. That's because insurance is big business in the Delaware Valley.
Each year, Philadelphia area consumers spend $7.4 billion to insure their homes and cars. That's almost $1500 for every area adult.
There is good news and bad news for the 9300 local insurance agents who are competing to earn a substantial share of the home and auto premiums consumers are paying.
According to Nielsen, 373,000 policyholders in the Delaware Valley are planning to switch insurance providers during the next 12 months.