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Survey: Policyholders not as satisfied with insurers that bundle policiesPosted On Fri, July 1, 2011
When it comes to how satisfied customers are with their insurers, policyholders are more likely to find favor with the ones that offer auto insurance or home insurance only.
According to a survey recently released by J.D. Power and Associates, satisfaction among policyholders whose home and car is insured by separate companies has risen from last year, up 21 and 26 points on a 1,000-point scale, respectively. Meanwhile, for those who bundle their insurance policies with one provider, satisfaction improved just seven points.
"For the first time, satisfaction with price is higher among unbundled customers than among bundled customers," said Jeremy Bowler, senior director of J.D. Power. "Customers have come to expect a discount for holding multiple policies with their insurer, and it appears that the positive effect of this discount has become diluted."
Bowler went on to say that while customers value discounts, they appear to value customer-friendly policies more, such as accident forgiveness and ticket forgiveness.
The decreased satisfaction for discounts may be influenced by how easy it's become for policyholders to shop around for a good deal, as a recent survey found online auto insurance shopping is at an all-time high.
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