J.D. Power released its 2010 U.S. National Auto Insurance Study (pdf) and found that overall consumer satisfaction with insurance companies declined in 2010 after peaking in 2009. Overall satisfaction averages 777 on a 1,000 point scale which represents a decrease of ten points from 2009.
The study measures consumer satisfaction across five factors: interaction, policy offerings, billing and payment, price, and claims. The main factor that led to the 2010 decline in satisfaction was due to price increases, which were reported by 22 percent of customers.
J.D. Power and Assoicates – 2010 Press Realease:
WESTLAKE VILLAGE, Calif.: 3 August 2010 — After peaking in 2009, overall customer satisfaction with insurance companies has declined significantly in 2010, according to the J.D. Power and Associates 2010 U.S. National Auto Insurance Study released today. Overall customer satisfaction averages 777 on a 1,000-point scale, decreasing by 10 points from 2009.
The study measures customer satisfaction with auto insurance companies across five factors: interaction; policy offerings; billing and payment; price; and claims. The decline in overall customer satisfaction in 2010 is largely attributable to declining satisfaction with price, which has decreased by more than 30 index points compared with 2009. At the same time, price has also gained in relative importance as a driver of overall satisfaction.
The study finds the proportion of customers who report experiencing an increase in premiums has increased significantly to 22 percent in 2010, compared with 17 percent in 2009. In addition, six in ten policyholders who have experienced a premium increase indicate they received no advance notice of the change from their insurers.
Read the entire report along with insurer rankings @ 2010 U.S. National Auto Insurance Study (pdf)
