Homeowners' insurance customer satisfaction has remained flat during the past 5 years, according to the J.D. Power and Assocs.' 2008 Homeowners Insurance Study, which measured customer satisfaction with policy offerings, price, billing and payment, interaction and claims.
On a 1,000-point scale, homeowners in 2008 ranked their insurance satisfaction at an average of 752, mainly because of unhappiness with claims and pricing.
On a 1,000-point scale, homeowners in 2008 ranked their insurance satisfaction at an average of 752, mainly because of unhappiness with claims and pricing.
The Study Also Found:
o Satisfaction averages 782 when policyholders bundle home and auto insurance policies, compared with an average of 689 among those who do not combine policies.
o Nearly 50 percent of homeowners' insurance policyholders were offered an annual policy review, which creates higher satisfaction for these policyholders.
o In 2008, 42 percent of homeowners' premiums increased; dissatisfaction can be minimized through effective notification to policyholders and a discussion of policy alternatives.
This study is based on responses from more than 12,900 homeowners' insurance policyholders in May and June 2008.
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