Unlike the negative reaction that consumers are having in other markets, the homeowners insurance market is seeing a significant uptick in customer satisfaction according to a new report issued by market research group J.D. Power and Associates. This includes an “unprecedented” 22 point growth on the J.D. Power scale.
“The insurance industry is being impressive on pricing at a time when so many others are not,” said Jeremy Bowler, senior director of J.D. Power’s insurance practice, in an interview Sunday. The attitude among many of the customers surveyed is that “insurers are not hitting customers when they are on their knees when everyone else is.” He said he saw similar results in an auto insurance customer survey conducted in around the same time period.
Among the many factors that played into the growth were lower prices, seen both when getting a home insurance quote and after obtaining a policy, and companies showing consumers how to save more on their premiums on insurance for the home.