The J.D. Power and Associates 2011 U.S. National Homeowners Insurance Study finds homeowner insurance companies up 19 points in the customer satisfaction field from last year.
The study was based on five different fields that included: policy offerings; price; billing and payment; interaction; and claims, with interaction receiving the highest marks. The increased interaction between customers and insurers through internet may have led to these high marks.
Scores on the price field increased in large because of customers who had insurance packages, bundling more than one policy with the insurer. Although this is only true with homeowners insurance policies as the opposite is evident in people bundling their auto insurance policies.
There have been many significant floods in the past year yet many homeowners with flood policies are less satisfied than those without the policy.
“So far, 2011 has been a tough year for the property insurance industry due to the occurrence of multiple natural catastrophes—ranging from tornadoes in the southern U.S. in the spring, to massive flooding in the Midwest, to the recent earthquake on the East Coast, followed by Hurricane Irene—which have driven home the necessity among many U.S. consumers of having adequate homeowners insurance coverage,” said Jeremy Bowler, senior director of the insurance practice at J.D. Power and Associates.
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