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Customer satisfaction with home insurance companies continues to dropPosted On Tue, October 5, 2010
Home insurance customers aren't very satisfied with their insurers, a new report by J.D. Power and Associates reveals. In fact, customer satisfaction dropped to its lowest levels since 2005.
The declining levels of satisfaction are being attributed to several factors, including poor policy offerings and customer service. J.D. Power and Associates senior director of the insurance practice Jeremy Bowler says there are other reasons why homeowners may be distracted.
"Approximately 50 percent of customers don't have a clear understanding of how much coverage or what type of coverage they have on their home, and may have erroneously expected their premiums to decrease just as home values have declined since 2008," says Bowler. "As a result, many customers believe their policies are not aligned with their property values and express dissatisfaction."
While overall satisfaction is down, Amica Insurance seems to be holding up well. The home insurance company is ranked number one in customer satisfaction for the ninth year in a row.
Even though it may be tempting for a frustrated homeowner to forgo insurance, that would be a big mistake. A home insurance policy can help protect families in the event something happens to one of their biggest investments.
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