Providing exceptional customer service is one of the most important keys for home insurance companies in building lasting relationships with their customers, the most recent survey from J.D. Power has shown.
The company's 2020 US Home Insurance Study found that over two-thirds of home insurance customers intended to renew policies with their existing providers due to good customer service experience. Reputation and convenience, both chosen by 64 percent of respondents, ranked next as the best factors driving customer retention, whilst price was one of the least preferred motivators.
The data analytics and customer intelligence firm reviewed almost 12,000 responses from customers from the homeowners' and renters' insurance segments to ascertain how insurers fared in overall client satisfaction based on these indicators: interaction, policy offerings, price, billing procedure and policy info, asserts. The scores were tallied along with the insurance companies were ranked according to some 1,000-point scale. Here are the top ten home insurance companies from the US based on overall customer satisfaction.
1. Country Financial:
Overall customer satisfaction index rating: 855
Country Financial and its subsidiaries serve about one million customers in 40 countries. The provider's range of products include car, home, life and commercial insurance and retirement planning, and investment administration. Country Financial's home insurance is available in several packages, beginning with basic policy that contains a fixed number of hazards like fire and lightning damage, theft, theft, automobile collision, and glass breakage. Customers may also update their policies to suit their demands. The insurer offers liability and medical coverage also.
2. Amica Mutual:
Overall customer satisfaction index rating: 853
Rhode Island-based Amica Mutual offers private insurance with auto, homeowners', personal excess liability, and marine coverages. It's also the oldest mutual insurer of automobiles in the nation. While not among the nation's biggest insurers, Amica Mutual is famous for having top-notch customer support. Its typical home insurance menu includes home company, devastating, and dwelling replacement coverage, but the insurer also permits for all unconventional policy upgrades and discounts.
3. Auto-Owners Insurance:
Overall customer satisfaction index rating: 843
Auto-Owners Insurance works in 26 countries and can be represented by over 6,200 different agencies, comprising 37,000 brokers. It provides auto, home, liability, and workers' compensation policy to over five thousand policyholders. The Better Business Bureau-accredited (BBB) insurer offers all the normal homeowner coverages, including dwelling coverage, liability insurance coverage, and personal property and additional living expenses policy. The policies can also be customized to add several add-ons like guaranteed home replacement, ordinance or regulation policy, identity theft security, and coverage for appliance leaks and food spoilage caused by power failures.
4. Erie Insurance:
Overall customer satisfaction index rating: 839
Originally set up as an auto insurance in Pennsylvania, publicly traded Erie Insurance has since expanded into home, industrial, and life insurance coverage. It operates in more than 10 eastern and midwestern countries and contains nearly 4.9 million policyholders. The provider's home insurance packs from the normal features but also includes attractive perks like guaranteed home replacement, along with creature and theft coverage. As for the add-ons, customers can opt for protection for equipment breakdown, luxury valuables, guns, and underground utility lines and plumbing. Policyholders will also be eligible for various discounts depending on where they reside.
5. The Hartford:
Overall customer satisfaction index rating: 832
The Hartford Financial Services Group is one of the country's biggest investment and insurance companies. It provides personal and commercial insurance, such as auto, homeowners', workers' compensation, and specialty policy. The business has been the direct auto and home insurance author for AARP's associates for over 30 years. Hartford's Home Advantage package includes "new for old" protection, which pays for the cost of replacing old items with new types, reimbursement for replacing locks, and personal injury liability and identity theft coverage. This may be updated to the Home Advantage Plus bundle, which covers for equipment damage and loss of precious items.
Overall customer satisfaction index rating: 829
Allstate operates through seven sections and serves over 145 million policies in force, such as the estimated 35 million liability and property coverages. Its home insurance companies are under the Allstate Protection section, which also has auto insurance. Allstate offers regular insurance for all kinds of homes, such as apartments, condominium units, and mobile houses. Policyholders can choose from a range of add-ons, including water backup, green improvement, electronic data recovery, identity theft recovery, lawn and yard and company property policy. Owners renting out their homes via Airbnb or alternative vacation rental platforms may opt for home-sharing insurance coverage, which provide around $10,000 per lease time to pay for repairs the typical home insurance doesn't cover.
7. State Farm:
Overall customer satisfaction index rating: 829
State Farm is the biggest automobile, real estate, and casualty insurance provider in the usa. It has over 58,000 employees and 19,000 brokers that service 83 million accounts and policies across the country. State Farm provides regular coverage for the majority of homeowners' policies, however customers can opt for many add-ons. These include the increased dwelling limit, which extends replacement cost protection to 20% if a home is guaranteed at least as much as the projected replacement cost. Policies can also be updated to add coverage for earthquake damage, identity fraud, vandalism, and replacement cooling and heating appliances using energy-efficient units.
8. CSAA Insurance Group:
Overall customer satisfaction index rating: 825
California State Automobile Association (CSAA) Inter-Insurance Bureau provides homeowners', and personalized umbrella insurance for approximately several thousand policy holders in more than 15 nations. CSAA traditional home insurance policies include dwelling, personal property, jewelry and other valuables, including personal liability, medical payments, and loss-of-use policy. Policyholders are also eligible for several discounts.
Overall customer satisfaction index rating: 824
MetLife is one of the world's top providers of insurance, annuities, employee benefits, and asset management solutions. It's also one of the largest institutional investors in the US, managing more than $600 billion in total assets at December 31, 2019. MetLife's insurance coverages include regular policy, however policyholders may also elect for contents and residence replacement coverage. Customers may also avail of several discounts.
10. American Family:
Overall customer satisfaction index rating: 821
American Family Mutual Insurance provides personal and business property and casualty insurance across the nation. This consists of homeowners', traveling, farm and farm, retail small business, and industrial liability insurance plan. Additionally, it provides life insurance, and annuities and supplemental health programs. For the corporation's conventional home insurance policies, protection for pump overflows and sewer backups, identity theft, equipment breakdown, fitting siding coverage, and home business liability and property coverage could be added.