Satisfaction with Home Insurance Companies Reaches 5-Year Low

According to a recent survey released by J.D. Power and Associates, if you’re dissatisfied with your home insurance company you’re not alone. The survey found that overall customer satisfaction with homeowners insurance has reached the lowest level in five years.

Why Homeowners are Unhappy with Insurance Companies

So far in 2010, home insurance companies have failed to satisfy as they have in the past. Based on the survey, the customer satisfaction rating for companies averaged 750 on a 1,000-point scale, which represents a 23-point drop from 2009.

There were a couple of factors that contributed to the drop in satisfaction:

  • Interactions with the company: Of the one-third of respondents who contact their companies, most said their interactions were not favorable based on the companies’ lack of interest in quality customer service.
  • Price issues: Many respondents also found that they were being charged too much for their policies. They felt that their insurance costs should have lowered when their property values dropped.

Those who seemed to be the most satisfied with their experiences were homeowners who bundled auto insurance and home insurance policies. The company that received the highest points in customer satisfaction from respondents was Amica Mutual, which received a score of 849 on a 1,000-point scale.

Take Charge of Your Home Insurance Experience

If you are like others in the survey who are unhappy with your home insurance company, there may be some things that you can do to make your experience a better one. First, you want to make sure you’re with the right company. If you feel that the company is the problem, you could shop for a new home insurance company to make sure you’re getting the service you deserve.

If your company responds reasonably to home insurance claims and your problem is more in line with the services and coverages being offered, before walking away, you may consider asking if there are any riders to take advantage of. If cost is a problem, you might ask about various discounts available since studies show that many people miss out on home insurance discounts each year.

Believe it or not, your home insurance company does not have all of the power when it comes to your satisfaction. It’s up to you to make the changes necessary to ensure you have a good experience with any company you work with. So why not take charge now?