Perhaps with the exception of Californians, most U.S. consumers are paying substantially more to insure their vehicles this year, without seeing immediate tangible benefits. As a result, they are generally less satisfied with their coverage, according to J.D. Power and Associates' most recent study.
"In 2013, there is a sharp rise in the number of customers who have experienced premium increases," explains Jeremy Bowler, senior director of the global insurance practice at J.D. Power." The dollar amount of those increases is also larger, averaging $153 in 2013, compared with an average rate increase of $113 reported in the 2012 study."
For its 2013 U.S. Auto Insurance Study, J.D. Power measured customer satisfaction across five factors: interaction, price, policy offerings, billing and payment, and claims. Dropping 10 points from last year's all-time high, overall satisfaction with auto insurers registered 794 on a 1,000-point scale. Of all five factors, price satisfaction scored the lowest at 716, more than 100 points lower than the averages for interaction and claims.
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