Auto insurance customer satisfaction has reached its highest level since J.D. Power launched its study on the sector in 2000, with satisfaction rising the most in the areas of price, and billing and payment.
In J.D. Power's “2014 U.S. Auto Insurance Study,” the firm says overall satisfaction among auto insurance consumers climbed 16 points to 810 on a 1,000-point scale. The study measures customer satisfaction in five areas: interaction, price, policy offerings, billing and payment and claims.
Interestingly, J.D. Power notes the rise in satisfaction comes amid several years of price increases. However, while the number of customers receiving insurer-initiated rate hikes this year was about the same as last year, the amount of the increase was lower—$86 in 2014 compared to $153 in 2013.
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