J.D. Power Auto Insurance Study finds steady satisfaction

2022 marks the 23rd year of the J.D. Power U.S. Auto Insurance Study, this one affirming lessons that should have been learned a long time ago. But first, as explained by J.D. Power, the study "examines customer satisfaction in five factors: billing process and policy information; claims; interaction; policy offerings; and price." Results were compiled from answers provided earlier this year by 36,935 auto insurance customers, the big news this year about pricing and satisfaction. Insurance wouldn't be immune to inflation in any scenario, seeing that materials to fix a vehicle come from the same raw materials skyrocketing in price. But the last few years of crashes and sky-high vehicle pricing threw two more bombs at actuarial tables, forcing insurers to raise many premiums.

However, the study found that overall customer satisfaction hasn't changed much from last year. Satisfaction with auto insurance averages out to a score of 834 out of 1,000, a single point down on last year's score. Overall customer satisfaction with the prices of auto insurance took a larger drive, earning a score of 769, down five points from 2021. Insurance agencies that provided new contact methods helped, policy holders happy about being able to handle quick matters online and save detailed issues for phone calls.

The result showed that some insurers helped keep scores from freefalling by heeding an old lesson: Notifying customers of the bad news in advance, and being transparent about what was happening and why. More companies did more work to inform more customers ahead of time, the prewarned customers being 37% more satisfied overall.