Best Car Insurance Companies: J.D. Power Rankings

car_insuranceWhen it comes to auto insurance, the ads sometimes make it seem as if time is the only important aspect. Yet a good insurance company is much more than its application process. J.D. Power recently issued several studies which indicate some winners in auto insurance satisfaction.

Auto Insurance Survey
J.D. Power released a major study that showed “record-high levels” of satisfaction in car insurance companies. The survey was conducted over two months and involved more than 44,000 respondents. The five categories included customer service/interaction, billing, claims, policy choices and premium costs. J.D. Power has noted an interesting contradiction. While premium prices have continued to climb, customer satisfaction has reached an all-time high.

Claims Survey
Claims, after all, are where customers find out what their insurance is really worth. The US Auto Claims Satisfaction Survey took six months and included more than 10,000 people who had immediate experience with their insurer’s claim process. According to JD Power analysts, complicated claims continue to rise, but technology seems to bridge the gap, keeping more consumers happy.

And The Winner Is…
Since the US Auto Insurance Survey results are broken down into large states and regions, there isn’t one overall winner. However, four insurance companies certainly stand out. These four achieved top rankings in multiple regions and good scores in the Claim Satisfaction Study.

Auto-Owners Insurance
Auto-Owners Insurance scored highest in the Central Region and the North Central Region. It also ranked in the top three in the Florida and Southeast regions. Auto-Owners Insurance also ranked number two in the Claim Satisfaction Survey. This Michigan-based company sells its insurance through local independent agencies. For an auto insurance company that doesn’t advertise heavily nationwide (compared to State Farm, Progressive, Geico, etc.), this one seems to hold its own and please its customers while doing it.

State Farm
State Farm scored highest in the Southwest and New York regions. It also made the top three in the Northwest, Mid-Atlantic, New England, Central, and Northwest regions. In the Claim Satisfaction survey, State Farm took the number three spot. If the rankings are accurate, the company is definitely doing something right. One of the best known insurance companies in the U.S., State Farm ranks 44th on the Fortune 500 list. The company, which has agents dedicated solely to its products, has had to compete aggressively to maintain market share against online insurance agencies.

Amica Mutual
Amica Mutual scored highest in the New England region. The Claim Satisfaction Survey ranks it as number one. The company’s score improved by 29 points over the last survey. It achieved an indexed score of 900 out of 1000. Even better, it got five out of five, indicating that it did well in every category.

The Hartford had the highest scores in the Mid-Atlantic and Florida regions. It was in the top three for the Northwest and Southwest regions, too. It also scored in the top seven for the Claim Satisfaction Survey. These rankings certainly indicate that Hartford is working to earn its monthly premiums.

More Winners
Among the others that achieved good rankings in the Auto Insurance Survey, Wawanesa ranked highest in California. Geico tied with State Farm in New York. Pemco ranked highest in the Northwest Region. Farm Bureau insurance in Tennessee, North Carolina and Texas beat out its regional competition. J.D. Power noted that USAA And NJ Manufacturers Insurance Company were given high marks but were not included due to their restricted membership.

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