Auto Insurance Claims Satisfaction Remains Stable Overall, Despite Decline in Total Loss Satisfaction
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Appraisal, Settlement Satisfaction Dip with Spike in Total Loss Claims from Storm Events in the Mid-Atlantic Region
- Overall satisfaction with the auto insurance claims process increases to 852 in Wave 3 from 850 in Wave 2 [January-March 2013].
- Claimants pay an average of $461 out of pocket for repairs in Wave 3, compared with $499 in Wave 2.
- Satisfaction with the appraisal process for total loss vehicles declines by a significant 25 points from Wave 2, primarily due to steep declines in satisfaction with the claims process in the Mid-Atlantic region following severe storm events.
"While overall auto claim satisfaction is up 2 points, and satisfaction in four of the six factors1 is also up from Wave 2, satisfaction with the appraisal process among total loss claimants declines by 25 points," said Jeremy Bowler, senior director of the insurance practice at J.D. Power.
Making the Auto Insurance Claims Process Smoother and Easier
- Call the police for any auto accident that results in more than minor damage to a vehicle (more than $500 is a suggested figure).
- Call 911 if someone involved in the incident has been injured.
- Take down the names and addresses of individuals involved; the accident location; the make, model and plate number of the vehicle(s); names and contact information of any witnesses; and notes of any injuries.
- Always get a copy of a police report when involved in a multiple-vehicle accident.
- Ask the police to file an accident report or at least an incident report, so there's a record to show your insurance company.
- Contact your insurer or agent as soon as possible after the incident, even if the other party is at fault. Your insurer will be better able to protect your interests.
- If possible, contact your insurer or agent from the location where the damage occurred.
- Keep records of all calls regarding the incident.
- Take photos of damage to your vehicle, even with a cell phone.
- If you have questions about your adjustor's appraisal, contact your insurer or agent directly.
1The study measures customer satisfaction with the claims experience for auto physical damage loss. Depending on the complexity of a claim, a claimant may experience some or all of the following six factors measured in the study: first notice of loss; service interaction; appraisal; repair process; rental experience; and settlement. Settlement is the most important factor in overall satisfaction among both total loss and repair claimants.
About J.D. Power
J.D. Power is a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. The company's quality and satisfaction measurements are based on responses from millions of consumers annually. Headquartered in Westlake Village, Calif., J.D. Power has offices in North America, Europe and Asia Pacific. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power is a business unit of McGraw-Hill Financial.
About McGraw Hill Financial
McGraw Hill Financial (NYSE: MHFI), a financial intelligence company, is a leader in credit ratings, benchmarks and analytics for the global capital and commodity markets. Iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power, McGraw Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.
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