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Industry IQ: Homeowners Can't Get No Satisfaction?

Homeowners' insurance customer satisfaction has remained flat during the past 5 years, according to the J.D. Power and Assocs.' 2008 Homeowners Insurance Study, which measured customer satisfaction with policy offerings, price, billing

By staff Writer | Updated on November 04, 2008

Homeowners’ insurance customer satisfaction has remained flat during the past 5 years, according to the J.D. Power and Assocs.’ 2008 Homeowners Insurance Study, which measured customer satisfaction with policy offerings, price, billing and payment, interaction and claims.On a 1,000-point scale, homeowners in 2008 ranked their insurance satisfaction at an average of 752, mainly because of unhappiness with claims and pricing.

The Study Also Found:o Satisfaction averages 782 when policyholders bundle home and auto insurance policies, compared with an average of 689 among those who do not combine policies.o Nearly 50 percent of homeowners’ insurance policyholders were offered an annual policy review, which creates higher satisfaction for these policyholders.o In 2008, 42 percent of homeowners’ premiums increased; dissatisfaction can be minimized through effective notification to policyholders and a discussion of policy alternatives.

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