Following two of the worst years of natural catastrophic events in the history in the United States, overall customer satisfaction with the property claims experience remains high, according to the J.D. Power and Associates 2013 Property Claims Satisfaction StudySM .
Having an agent to help with a home claim led to higher consumer satisfaction. Among customers surveyed for the 2013 study, 72 percent who filed with an agent say their agent helped put them at ease, while just 56 percent who filed direct say their call center representative did the same.
The study, now in its sixth year, measures satisfaction with the property claims experience among insurance customers who filed a claim for damages covered under their homeowners' policy by examining five factors: settlement; first notice of loss; estimation process; service interaction; and repair process.
Following 2011 and 2012, when insurance companies faced historic levels of catastrophic event claims settlements, customer satisfaction remains high and stable. Overall satisfaction in the 2013 study is 832 (on a 1,000-point scale), decreasing by one point year over year, but significantly increasing from 823 in 2011 and 818 in 2010.
"Despite increases in both the frequency and average severity of property damage in the U.S. during the past two years, the fact that customer satisfaction remains high is a testament to how diligently the personal insurance industry has responded to its customers," said Jeremy Bowler, senior director of the insurance practice at J.D. Power and Associates.
In the 2013 study, among the approximately 8 percent of homeowners in the United States who filed a property claim, the average settlement amount is $8,517, up from $7,937 in 2012. While the amount of the settlement to cover contents increases by nearly $250 year over year, the amount to cover the cost of repairs increases to $7,844 in 2013 from $7,151 in 2012. The average out-of-pocket expenses paid by homeowners nearly doubles to $3,888 in 2013 from $1,945 in 2012.
Source: J.D. Power, Press Release – 04/01/2013 2013 Property Claims Satisfaction Study