With U.S. auto insurance rates up 11.2% on average during the past year—and insurers still losing an average of five cents on every dollar of premium they collect—sky-high premiums do not appear to be leveling off anytime soon.
Tag: JD Power survey
Half of Auto Insurance Customers Currently Shopping for New Policies, J.D. Power Finds
According to the J.D. Power 2024 U.S. Insurance Shopping Study,SM released today, that notable increase in premium—combined with lackluster customer satisfaction scores this year—is putting more insurance customers into the market for a new policy than ever before. Nearly half (49%) of U.S. auto insurance customers say they are actively shopping for a new plan.
Customer Satisfaction with Homeowners Insurance Property Claims Declines to 7-Year Low
According to the J.D. Power 2024 U.S. Property Claims Satisfaction StudySM, released today, the increase of severe storms has led to a larger number of high-severity claims and notably longer time frames for all major steps of claims—estimating the damage, paying the customer and completing the work—all negatively affecting satisfaction, which declines to the lowest level in seven years.
Auto Insurance Shopping Reaches New Highs as Premiums Surge: J.D. Power Finds
There’s a sharper focus on saving money as large numbers of auto insurance customers shop for new policies and switch to new carriers, largely based on price.
Survey Says: Independent Agents Are Satisfied with their Carrier Partners
Despite the near-constant disruption of digital transformation and economic uncertainty, independent insurance agents have never been happier with their carrier partners. Overall agent satisfaction with insurers of both personal lines and commercial lines has reached an all-time high, according to the J.D. Power 2022 U.S. Independent Agent Satisfaction Study, SM released today. Commercial lines satisfaction… Continue reading Survey Says: Independent Agents Are Satisfied with their Carrier Partners