What we’re seeing is that the top scorers do well across the board. Their customers are happy with both price and customer service. They have fans, not just customers.
Foster City, Calif. (PRWEB) February 25, 2013
USAA, American General and Kaiser Permanente earned the highest scores from customers in their respective categories in Insure.com’s annual customer satisfaction study.
Insure.com surveyed more than 5,600 insurance customers nationwide and asked them to rate their satisfaction with their insurance companies. Twenty large companies in four categories (auto, home, health and life insurers) were rated, and the top three earned Insure.com’s annual “People’s Choice Award.” (See the full rankings below.)
Insurance companies were scored on five measurements:
- Customer service
- Claims satisfaction
- Value for price paid
- Percent who plan to renew
- Percent who would recommend the company
(Life insurance scores did not include claims or renewal questions.)
Insure.com’s Best Insurance Companies customer satisfaction tool contains all the scores and rankings, plus customer comments, A.M. Best financial strength ratings and information on special coverage options available from auto insurers, such as accident forgiveness and usage-based insurance.
“What we’re seeing is that the top scorers do well across the board. Their customers are happy with both price and customer service,” said Amy Danise, editorial director of Insure.com. “They have fans, not just customers.”
Most people are “completely” or “somewhat” satisfied with the customer service from their insurance companies. However, this year life insurers dropped below health insurers in customer satisfaction levels.
Here are percentages of customers saying they are “completely” or “somewhat” satisfied with their insurers’ customer service:
- Auto insurance customers: 80 percent (2012 results: 80 percent).
- Home insurance customers: 76 percent (2012 results: 73 percent).
- Life insurance customers: 67 percent (2012 results: 63 percent).
- Health insurance customers: 71 percent (2012 results: 61 percent).
“When we asked people who gave low ratings what their reason was, most often they said they couldn’t get an answer to a question or there was no follow-up to a problem,” said Danise.
The auto insurance price shopper
Price was cited by 42 percent survey respondents as the most important factor in auto insurance-buying decisions; 21 percent think customer service is the most important factor. Satisfaction with claims came in as third most important, with 15 percent. Knowing how many customers would recommend the company or how many would renew their policies were each chosen as most important by 11 percent.
“Smiles and kind words won’t get an insurer to the top of the rankings. Their customers also have to feel they’re getting a good value for their money,” said Danise.
Among customers who say they won’t be renewing their auto or home insurance policies, price was the No. 1 reason.
Among people who say they won’t renew with their current car insurance company:
- 62 percent think their price is too high.
- 12 percent think other companies are better.
- 10 percent cite poor customer service.
- 9 percent have “other” reasons.
- 8 percent point to dissatisfaction with claims.
Don’t bother reading the insurance policy
Reading one’s auto insurance policy doesn’t necessarily lead to greater satisfaction.
Among consumers who made car insurance claims in the last three years and say they haven’t read any of their auto policy, 61 percent were nonetheless “completely satisfied” with the claims process. That’s not too far apart from policyholders who made claims and also say they’ve read all of their auto policy – 69 percent were “completely satisfied” with their claims.
“Conventional wisdom suggests that being acquainted with the terms of your policy will help you avoid nasty surprises if you have a claim,” said Danise. “But actual data do not support this theory. People who haven’t read a single word of their policies are almost as happy with their claims as those who spent time reading their policies.”
The ideal insurance agent
When consumers were asked who they would prefer to have as an insurance agent from a list of celebrities, Oprah Winfrey trumped the Donald:
- Oprah Winfrey: 33 percent.
- Donald Trump: 31 percent.
- Barbara Walters: 17 percent.
- Al Roker: 15 percent
- Kim Kardashian: 5 percent.
“If Oprah’s TV career ever fizzles she could definitely make a go of it as an insurance agent,” remarked Danise. “Oprah listens.”
See the full article and customer satisfaction ratings at http://www.insure.com/best-insurance-companies.html.
AUTO INSURANCE RANKINGS
(Score out of 100.)
1. USAA - 96.0
2. Erie Insurance - 91.7
3. Auto-Owners Insurance - 88.1
4. MetLife - 86.4
5. Country Insurance - 85.9
6. American Family - 85.1
7. Nationwide - 83.8
8. AAA - 82.5
9. State Farm - 82.3
10. Allstate - 81.6
11. GEICO - 81.4
12. GMAC Insurance - 81.4
13. Mercury General - 80.3
14. The Hartford - 80.2
15. Progressive - 79.8
16. Farmers - 79.3
17. Esurance - 78.6
18. Liberty Mutual - 77.9
19. 21st Century - 75.7
20. Travelers - 73.6
HOME INSURANCE RANKINGS
(Score out of 100.)
1. USAA - 96.0
2. Amica Mutual - 90.4
3. Country Insurance - 90.2
4. Auto-Owners Insurance - 87.9
5. Erie Insurance - 87.1
6. American Family - 85.8
7. State Farm - 84.8
8. Allstate - 84.7
9. Chubb - 84.4
10. MetLife - 83.4
11. Fireman's Fund - 83.1
12. The Hanover Insurance - 83.0
13. Farmers - 82.0
14. AAA - 81.7
15. Nationwide - 81.0
16. Liberty Mutual - 79.6
17. The Hartford - 77.9
18. Travelers - 77.5
19. Universal Property & Casualty - 75.6
20. Citizens Property Insurance - 72.9
HEALTH INSURANCE RANKINGS
(Score out of 100.)
1. Kaiser Permanente - 83.6
2. BCBS of Illinois - 83.3
3. Humana - 83.1
4. Health Net - 81.2
5. BCBS of Florida - 81.0
6. BCBS of Michigan - 80.9
7. Horizon BCBS of New Jersey - 80.8
8. Assurant - 79.8
9. BCBS of Massachusetts - 79.8
10. Anthem BCBS - 79.8
11. Regence BCBS - 79.6
12. Aetna - 79.6
13. Highmark BCBS- 79.3
14. CareFirst BCBS - 79.2
15. Independence BCBS - 78.8
16. Blue Shield of California - 78.4
17. BCBS of North Carolina - 77.5
18. UnitedHealthcare - 77.2
19. CIGNA - 76.0
20. Coventry Health Care - 75.3
LIFE INSURANCE RANKINGS
(Score out of 100.)
1. American General - 83.2
2. Jackson National - 80.6
3. Allstate - 80.5
4. Northwestern Mutual - 78.7
5. ING - 78.4
6. New York Life - 77.6
7. Prudential Financial - 76.5
8. Transamerica - 76.3
9. AXA Equitable - 76.2
10. MetLife - 76.0
11. Aviva - 75.5
12. Hartford Life - 75.4
13. Massachusetts Mutual - 74.5
14. Great-West Life - 73.5
15. Ameriprise Financial - 73.2
16. Pacific Life - 72.2
17. Principal - 71.5
18. TIAA-CREF - 70.8
19. John Hancock - 70.0
20. Lincoln National - 68.2
Insure.com conducted surveys of more than 5,600 insurance customers nationwide between September and November 2012 for customer satisfaction ratings and reviews. The survey was not open to the general public on the Insure.com website. We collected ratings for auto, home, health and life insurance carriers. Consumers answered questions about their levels of satisfaction with their insurers, and each answer was assigned a point value.
A.M. Best ratings and written customer comments were not included in the scores.
We collected data for 20 large companies by market share in each category, so not all companies are represented in the study. The companies for which we collected data were then ranked. The top three companies in each category earned Insure.com’s “People’s Choice Award.”
Insure.com is a comprehensive resource of consumer insurance information and data. The website features articles, news and tools on auto, home, health and life insurance topics; life insurance quotes; and car insurance comparison tools. Consumers have access to free car insurance quotes and guidance on finding the right insurance policy, saving money and solving claims problems. Insure.com is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that best meet their needs. The company is a leader in visitor-friendly marketing practices. For more information, please visit QuinStreet.com.