There are a few ways of looking at it when you are considering the value of the premiums you pay. The key one should be the likelihood of being looked after well in case you have a traffic accident and have to face some losses. However, Do motorists consider how satisfied policyholders of a particular auto insurer are in terms of claim settlements before they choose it? How many of them would go for a company with lower claim satisfaction figures and lower quotes?
Actually, there is such data freely and readily available for motorists to have a look at. A recent auto insurance claim satisfaction survey report by J.D. Power offers considerable insight into the subject. One of the important findings is that companies do try to improve the most important aspect of their services. Regardless of what customers think when they are buying coverage they like to do their best in settling cases as fast and efficient as they can. Also, survey suggest that motorists who were happy with the way their claims were handled are likely to recommend the car insurance carrier they are with as well as renewing with them. I guess, this is not a surprising finding after all.
The real question is that how influential are these figures? Should motorists be going out of their ways to find a company that is know to be generous in that area? Have you ever even thought about checking how well your current auto insurer is doing in terms of handling cases from their policyholders? The problem with most people is that they are very trusting in nature. They don’t suspect anything unless there is a noticeable foul smell surrounding it.
There are 26 names on that list and the worst one scored 818/1000. This goes to show that we have a healthy automobile insurance market with good providers. In other words, plenty choices available to us. I would take over 80% satisfaction in any day of the year. Remember that some people are impossible to please and they would be dragging the scores down as well. Also, the difference is only about 7% between the company scoring the top mark and the worst in this survey. This is not worth splitting hairs as far as this survey goes.
To answer another question raised, it is unlikely that many brokers and agents are doing a good job. It is doubtful that they check how each carrier handles their customers when they need to pay up and report back while they make a recommendation.
Another question is that can a more expensive policy be sold on the bases that the provider is solid in compensating customer losses? If that was the case, you would worry about the person who bought it for that reason. Does he/she expects to put in one any time soon that he is checking who will pay better? In the same token, have you ever heard an insurance company advertising to be the best payer of them all?