Love Your Car Insurance Company? Chances Are You’ll Stay

A new survey by J.D. Power and Associates shows that drivers who are happy with their current auto insurance company usually won’t change regardless of price.  But that begs the question – are they still getting the best deal?

Most people consider five factors when choosing an auto insurance company – interaction, policy offerings, price, billing and payment, and claims. 

Competition is tight between companies, in an industry where just one percent of market share represents $1.6 billion in premiums.

Fortunately having such a highly competitive marketplace means that each insurance provider has to keep improving their policies and service to meet growing customer expectations.  It seems that they’re succeeding – overall customer satisfaction keeps statistically improving too.

Insurance companies have discovered that adding coverage and features keep consumers happy.  That’s why new services have appeared, like electronically monitoring your teen’s driving habits or paying veterinary bills if your dog is also injured in a car accident.

Since communication is important, you can also expect more contact from your car insurance company with offers of annual policy reviews, notifications of policy discounts, and internet access to policy information.

So yes, odds are that if you’re a good driver with good credit and you’ve been with an insurance company for a long time, you’re probably getting a great deal.  But don’t get complacent – regularly pricing the competition, at least once every two years, will keep your agent on her toes.  You might even find that another company has a new policy feature that especially fits your family.