For the first time in5 years, customer satisfaction with home insurance increases dramatically. This is according to a recentsurvey from J.D. Powers and Associates.
In the survey, the research firm found that the driving force behind customer satisfaction seemed to be price. This may be a surprise to homeowners living in the Gulf Coast who have suffered astronomical premium hikes after Hurricane Katrina. According to the research firm, however, the Gulf Coast is an exception. Most prices have been reasonable over the past year.
J.D. Powers noted that thesatisfaction associated with home insurance pricesmay have beenperceptual. In other words, since prices didn’t actually fall, yet other costs such as gas and food increased over the past year, homeowners could find their insurance coststo besomething to feel happy about – it was one of the only stable expenses in their budget.
Another area that the research firm found customers to be satisfied in was claims handling. While the survey’sclaims-handling rating was higher a few years ago than in 2009, it has increased some showing that customers are gaining faith again in an insurance agency’s ability to handle claims – as opposed to a few years ago after Hurricane Katrina.
Of course, the study doesn’t take into consideration the recent floods that have taken place in Georgia. And while flood insurance is separate from homeowners insurance in theory, many homeowners associate the two and may find displeasure in the long run with their overall experience.
How satisfied are you with your own homeowners insurance?
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