Drivers reported record-high levels of satisfaction with their auto insurance firms in spite of recent premium increases, according to a recent J.D. Energy study.
Primarily based on a 1,000-point scale comparing 5 factors—interaction, policy offerings, price, billing and payment, and claims—customers reported a satisfaction level of 810 this year. It’s the highest point total considering that J.D. Power’s 1st U.S. Auto Insurance coverage Study in 2000.
Here are the study’s point totals in overall satisfaction for the final 4 years.
2014: 810
2013: 794
2012: 804
2011: 790
Insurers ‘More Effectively Communicating’ with Customers
Practically 1 out of each 5 buyers reported this year that their auto insurer raised rates on them, which was about the exact same rate who said so in 2013.
Even so, the size of rate hikes shrunk. Among drivers who reported price increases in 2014, the typical boost dropped from $ 153 last year to $ 86 this year.
The average rate improve in 2012 was $ 113.
Typical shoppers will shop around for another car insurer when their rates improve about $ 50 or far more, Jeremy Bowler, senior director of the insurance coverage practice at J.D. Energy, stated in 2012.
Even so, he mentioned that this year’s survey final results show that fewer individuals are purchasing, which highlights a bigger trend in client satisfaction.
“[T]his indicates that insurers are far more effectively communicating with their consumers, creating them aware of the premium increases when they happen and why they’re needed, and demonstrating the value of their coverage,” Bowler stated in a statement.
In truth, of the 5 variables impacting client satisfaction that J.D. Energy measures in its study, a customer’s “interaction” with his or her auto insurer carries the most weight, the firm said.
According to J.D. Energy, insurers have partly been capable to reduce the blow of price tag increases since they have more often employed customers’ “preferred communication channel” to notify them about value hikes.
2 out of every 5 clients surveyed said that they had only utilized digital channels—like their automobile insurer’s website or social media platforms—to communicate with their vehicle insurer in the previous year.
Another J.D. Energy study released this month identified that an auto insurance coverage company’s web site plays a significant role in whether or not or not a consumer picks it for coverage. The 2014 Website Evaluation study also ranked automobile insurers that very best met consumers’ buying and policy service wants.
Firms with the Highest Satisfaction Levels
Right here are the top-performers amongst auto insurers, reported in J.D. Power’s most recent satisfaction survey by region:
California: Wawanesa
Central: Auto-Owners
Florida: The Hartford
Mid-Atlantic: The Hartford
New England: Amica Mutual
New York: GEICO and State Farm
North Central: Auto-Owners
Northwest: PEMCO
Southeast: Tenneesee Farm Bureau
Southwest: State Farm
Texas: Texas Farm Bureau
Buyer Satisfaction with Vehicle Insurers Reaches Record Higher
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