Survey also reveals the degree to which financial concerns
increased, values changed, and the top reasons people moved during
the pandemic
ERIE,
Pa., June 21, 2022 /PRNewswire/ -- In a
national survey of U.S. consumers commissioned by Erie Insurance,
two-thirds of respondents said they are more concerned about their
financial security than they were before—and many are taking steps
to address it. The wide-ranging survey also revealed what people
miss most about working from home and like most about returning to
the office and, if they moved during the pandemic, why.
As a company that increases people's financial security by
providing life insurance, homeowners insurance and auto insurance,
Erie Insurance periodically commissions surveys to stay on top of
changes in consumer attitudes and behaviors.
The survey found that nearly two-thirds of respondents (64%)
value spending quality time with family more today than they did
before; more than half (55%) value financial security more, and
about the same percentage (54%) value spending quality time with
friends more.
In addition:
- Two-thirds of respondents (66%) said the pandemic made
them more concerned about their financial security than they
were before.
- 61% said the pandemic made them more concerned about
how their family would be taken care of financially if they
became seriously ill, or worse, could no longer provide for
them.
- Half (49%) said the pandemic made them question
whether they had the right type and amount of life insurance as
part of their overall plan for financial security, and a quarter
(25%) contacted their insurance agent about it.
"It's been said that life insurance is a product you buy with
the hope you don't need it right away, but our survey found that
having a policy provides value," said Louis
Colaizzo, senior vice president of Erie Family Life, Erie
Insurance. "In fact, 44% of respondents said the pandemic made them
appreciate the peace of mind they get from having life insurance
even more than they did before."
People on the move
One in five respondents (21%) said they moved during the
pandemic while 79% stayed put.
Topping the list of reasons for moving (36%) was to live in a
place with a better quality of life. Living closer to
family and having a lower cost of living tied for the
second most mentioned reason for moving (26%, respectively),
followed by having a larger home so everyone could spread out
more (18%) and to live somewhere with a nicer climate
(16%). Nine percent of people moved because they got sick of
their house after spending so much time in it.
The bitter and the sweet about
returning to the office
For many people who worked from home during the pandemic,
returning to the office is bittersweet. The survey revealed
what they miss or will miss most about working from home and what
they like or will like most about going back.
Top things people
MISS most about working
from home
|
Percentage of people
who miss it
|
1. Not having to
commute to work
|
27 %
|
2. Not being able to do
small chores around the
house during breaks throughout the day (like
unloading dishwasher, folding laundry) (tie)
|
24 %
|
2. Not being able to
spend as much time with my
kids (tie)
|
24 %
|
2. Having less free
time (tie)
|
24 %
|
3. Not being able to
sleep in
|
23 %
|
4. Not being able to
spend as much time with my
pets
|
21 %
|
5. Not being able to
spend as much time with my
spouse/significant other
|
19 %
|
Top 5 things people
will LIKE most about going
back to an office or other workplace
|
Percentage of people
who will like it
|
1. Socializing with
colleagues at work
|
34 %
|
2. Not feeling cooped
up in the house
|
33 %
|
3. Socializing with
colleagues after work
|
27 %
|
4. Meeting with
colleagues in person
|
24 %
|
5. Having lunch with
colleagues
|
19 %
|
Sorry, bosses.
Among a list of 11 things people like or will like most about
going back to the workplace, having facetime with the boss came in
last, with only 14% saying this. However, men were four times more
likely than women to say facetime with the boss is one of the
things they'll like most. Almost a quarter of men (24%) said
this compared with only 6% of women.
Slow down!
As national traffic safety organizations sounded the alarm about
the speeding crisis intensifying during the pandemic, Erie
Insurance wanted to know if people think drivers are still speeding
more than usual.
38% of respondents agree that it seems like the number of
speeding drivers increased a lot earlier in the pandemic and that
hasn't changed – drivers are still speeding to about the
same degree. But when asked about their own speeding habits,
only 15% said they found themselves speeding earlier in the
pandemic and still do. 69% said they didn't speed before the
pandemic and don't now.
Additional survey results are available to media upon
request.
Survey methodology
This survey was conducted online by Falls & Co. on behalf of
Erie Insurance from April 1 through April 8,
2022, among 500 U.S. residents ages 18 and older.
Falls established the sampling
quotas, designed the questionnaire, tabulated the survey responses,
and managed the overall project. Falls used Dynata (Plano, TX) to administer the survey via the
internet, including mobile devices, to Dynata's captive U.S. panels
who met the age, gender, and regional demographic criteria.
About Erie Insurance
According to A.M. Best Company, Erie Insurance Group, based in
Erie, Pennsylvania, is the 11th
largest homeowners insurer, 13th largest automobile insurer and
13th largest commercial lines insurer in the United States based on direct premiums
written. Founded in 1925, Erie Insurance is a Fortune 500 company
and the 19th largest property/casualty insurer in the United States based on total lines net
premium written. Rated A+ (Superior) by A.M. Best, ERIE has more than 6 million policies in force
and operates in 12 states and the District of Columbia. News releases and more
information are available on ERIE's website at www.erieinsurance.com.
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SOURCE Erie Insurance Group