Consumers favor an optional federal charter, according to a consumer advocacy group’s survey, because it would give them the ability to keep their insurance coverage and agent even if they change states.

Polling 897 people with car or homeowners insurance, the American Consumer Institute’s 2009 Consumer Pulse Survey found that 88% of consumers want to keep their insurance company, even if they move to a different state. A total of 73% of survey participants in the survey wanted to be able to use the same insurance agent or broker, regardless of what state that agent or the consumer is in.

The authors say the findings support the proposal from Reps. Melissa Bean (D-Ill.) and Ed Royce (R-Calif.), who introduced the National Insurance Consumer Protection Act, which would establish the optional federal charter and give consumers the choice of state-regulated and federally chartered insurance companies. The bill is awaiting action from Congress, which is debating several other insurance regulatory reform bills.

These results indicate “strong support for creating choice between state and interstate insurance companies,” according to the survey’s authors.

“A national framework for insurance, while providing a common solution for consumer protection, solvency and oversight, would provide that choice and be of significant benefit to the public,” the authors conclude.

The American Consumer Institute is a nonprofit consumer advocacy group, which asked three questions in the survey: Would you support or oppose this competition between state and federally regulated insurance companies? Do you think competition would raise or lower consumer insurance prices? Would you support or oppose allowing consumers the option to choose between state and interstate regulated insurance companies?