Customer satisfaction in insurance is highly influenced by trust, a 2024 study found, with 90% of customers who claim to have a high level of trust in their auto carrier reporting they are more likely to renew their with the same insurer. For who reported having a low amount of trust in their carrier, only 30% planned to stick around with their current auto insurer. do impact customer satisfaction with their auto insurer, but even in the face of across-the-board rate increases, there is hope for auto insurers to overcome that hurdle. “Auto insurers are in a tough position right now,” Breanne Armstrong, director of global insurance intelligence at J.D. Power, said in a release about the report. “With repair costs still rising—and with more than 20% of vehicles involved in collisions now considered total write-offs—insurers are still losing money, despite passing along huge price increases to their customers. What’s interesting in J.D. Power data is that even though high premiums negatively affect customer satisfaction, those negative influences can be offset by high levels of trust that insurers will come through when they are needed.” After surveying more than 40,000
policyholders in early 2024, determined which auto carriers provide the best experience for their customers. The organization rated insurers based on the feedback from customers about the ease of the claims process, quality of non-claim-related service, thoroughness of policy review, clarity of policy coverage, proactive help and advice. In the slideshow above, we’ll look at the auto insurers that received the lowest ratings from Consumer Reports in 2024. money, despite passing along huge price increases to their customers. What’s interesting in J.D. Power data is that even though high premiums negatively affect customer satisfaction, those negative influences can be offset by high levels of trust that insurers will come through when they are needed.” After surveying more than 40,000 policyholders in early 2024, determined which auto carriers provide the best experience for their customers. The organization rated insurers based on the feedback from customers about the ease of the claims process, quality of non-claim-related service, thoroughness of policy review, clarity of policy coverage, proactive help and advice. In the slideshow above, we’ll look at the auto insurers that received the lowest ratings from Consumer Reports in 2024.
