Despite Storms, Property Claims Satisfaction Remains High

Despite a second consecutive year of historic storm losses in 2012, homeowners insurance customers remain highly satisfied with the property claims experience.

According to the just-released J.D. Power and Associates 2013 Property Claims Satisfaction study, overall satisfaction is 832 (on a 1,000 point scale), down just one point from last year’s study, but up from 823 in 2011 and 818 in 2010.

The study, now in its sixth year, measures satisfaction with the property claims experience among insurance customers who filed a claim for damages covered under their homeowners’ policy by examining five factors: settlement; first notice of loss; estimation process; service interaction; and repair process.

In a press release Jeremy Bowler, senior director of the insurance practice at J.D. Power and Associates, says:

Despite increases in both the frequency and average severity of property damage in the U.S. during the past two years, the fact that customer satisfaction remains high is a testament to how diligently the personal insurance industry has responded to its customers.†

Another key takeaway from the study is that satisfaction with the service interaction process declined by nine points in 2013, compared with 2012.

J.D. Power reports that much of that decline in satisfaction likely is due to the continuing trend of homeowners filing their claim via direct channels – typically online or by calling a call center – rather than through an agent.

Some 68 percent of customers file their recent homeowners claim through direct channels, up from 57 percent in 2012, but satisfaction is 50 points higher among customers who file a claim through their agent, than those who file a claim via direct channels.

The 2013 Property Claims Satisfaction study is based on more than 5,500 responses from homeowners insurance customers who filed a property claim between May 2011 and January 2013.

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