Auto insurance claimants less satisfied with auto insurance policies this year


30A recent survey was conducted regarding the satisfaction that the claimants have as far as auto claims are concerned. Claimants seem to be less satisfied than they were last year. The current level of satisfaction is down by 0.005% from last year. Although the rate of satisfaction is less compared to the previous year, it is definitely more than the satisfaction level of claimants, couple of years back in 2008. The main reason behind the claimants’ satisfaction with auto insurance companies when it comes to claims is the reduction by 2days in the average time taken for repair. The satisfaction level almost remained the same for the same reason, as the reduction in repair time continued to add another half day.

The study had assesses how happy claimants were with the whole process of making claims after suffering losses due to the damages to the vehicle. While making this study, quite a few factors were taken into consideration. These factors include first loss notice, appraisal and service interaction. Other factors considered by those who conducted the survey include settlement, rental experience and repair process. Settlement turned out to be the most important factor that determined the claimants’ satisfaction.

Auto Owners Insurance, earned the position of the top scorer for the third year in a row as per the results of the survey. Amica Mutual and The Hartford are tied on the second position while Erie Insurance ranked a very close third. Other insurance companies that followed in the list include Automobile Club Group, Geiko Liberty Mutual, Automobile Club of Southern California and then traveller and Safeco. After these companies followed other insurance companies like Farmers and MetLife, Mercury, Commerce and 21st century. This means that there was quite a huge difference between the auto insurance company which scored most with the claimants in terms of satisfaction level, and the insurance company that scored the least. More than 100 points on a scale of 1000, separated the top and the bottom companies. Some of the insurance companies at the top were very close to each other.

Those who were surveyed included policy holders who had gone through this process of claims in the last 12 months. This is quite a meticulous and a difficult task too which involves proper verifications, assessment, processing and finally settling. It is a serious transaction that could sometimes annoy and test the patience of the claimants to the last degree.