The J.D. Power 2016 U.S. Home Insurance Study has named a new leader in renters' insurance customer satisfaction.
By surveying consumers and measuring their satisfaction with interations; policy offerings; price, billing process and policy information; and claims, Westlake Village, California-based market research company J.D. Power found an overall increase in satisfaction with companies offering renters' insurance.
On average, customers report an annual premium charge of $259 for renters' insurance in 2016, remaining relatively unchanged over the past few years. With the industry rates stable, improvements in the customer experience allow insurers to stand out from the competition.
|Improving communication, efficiency
Improved communication is helping customers to see the value in the products they purchase, which is particularly important for renters' insurance. In 2016, overall customer satisfaction with renters' insurance companies is 825 (on a 1,000-point scale) , a 17-point increase from 2015, according to J.D. Power.
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Jayleen R. Heft
Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at jheft@alm.com.
