There is no shortage of auto insurance providers these days; and with the cutthroat competition going on, it’s not surprising to see insurers offering dirt-cheap prices to get more business. However, insurance costs should not be used as a sole factor for choosing an insurance company. Here’s why.
You could be happy right now, and comfortable with your cheap insurance coverage. However, what if your insurer fails you in times of troubles or claims? What if the service is, third class and flimsy, or as slow as snails? It will take months or even years to get your car repaired. Are you seeing the big picture here?
As you may have noticed, insurance providers with the most satisfied customers based their decisions not on the prices or discounts alone, but to the rock-steady services as well. You simply couldn’t trust a company that’s only good in collecting their revenues, and failed to provide satisfactory customer service.
What the Survey Has Taught Us
J.D. Power and Associates is a privately owned marketing research company that has been in existence for four decades. They carry out extensive surveys in the fields of consumer and business requirements. In 2010, they released a survey about how consumers feel about their insurance providers. The results indicate that people were less satisfied as they were in 2009. On the bigger picture, the trend still shows upward indicators. The reason for the slight decline in 2010 is that most people who filed settlement claims were, in fact, dissatisfied with the results.
Meanwhile, the positive indicators were mainly attributed to the swift and quick assistance for car repairs. Contrary to the previous years, fixing cars now requires less time. This dramatic improvement in settlement processing, cuts the repair time to at least two days. Certainly, this isn’t the case back in 2008 and 2009.
In 2010, insurance companies managed to keep up this speed, and even reduced another, half a day waiting time, on average, which allowed the industry to sustain the positive ratings from its customers.
To determine which insurance companies could live up to its promises, a survey of 11,000 respondents was initiated. The survey focused on consumers who filed their claims in the service categories. The categories include appraisal, dealing with auto rental, settlement, first notice of loss, service interaction and repair speed and quality of service.
Insurers that topped survey were The Hartford, and Amica Mutual. They both scored between 880 and 910 on a scale of 1 to 1000 points. The companies that flunked the said survey include Encompass, Commerce, GMAC, MetLife, and Mercury.
Choosing the right insurance company can make or break your future. You don’t want to spend your hard-earned money only to find out that you can’t use them anyway. Insurance companies should protect you from future financial setbacks, and if they can’t dispense what you need in times of despair, you will likely be in serious troubles.
