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Insure.com's customer satisfaction study reveals best insurance companies
When you send in your next insurance payment, are you going to buy any “satisfaction”?
Insure.com’s new in-depth analysis provides the most complete view available of how customers feel about their auto, home, health and life insurance companies. Our findings include:
- USAA is the favorite among both auto and home insurance customers.
- Ameriprise has the most satisfied life insurance customers.
- Blue Cross Blue Shield of Illinois squeaked out the top spot for health insurance satisfaction.
Our tool (at right) breaks out five measurements of customer satisfaction for large insurance companies:
- Customer service
- Claims experience
- Value for the price paid
- Percent who plan to renew their policies
- Percent who would recommend their insurers
Even unhappy customers won’t budge
Overall, insurance customers are pleased.
- Most consumers are “completely” or “somewhat” satisfied with their auto insurers’ customer service; 73 percent are satisfied with home insurance customer service; 63 percent are satisfied with their life insurers’ customer service (although many complain they never hear from an agent after buying a policy); 61 percent are satisfied with their health insurance customer service.
- Seventy percent say they have recommended or would recommend their auto insurance company. In other categories, people who have recommended or would recommend their insurers totaled: 67 percent for home insurance; 58 percent for life insurance; and 50 percent for health insurance.
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Based on highest overall scores, you’ll find the happiest customers at these companies (which have also earned Insure.com’s “People’s Choice Award”): 1. USAA2. Auto-Owners Insurance 3. The Hartford 1. USAA 1. Ameriprise Financial Best health insurance companies 1. Blue Cross Blue Shield of Illinois |
You’d think that most auto insurance customers who feel dissatisfied would plot to look for better car insurance quotes and defect to other companies. Not so, according to our findings. Among car insurance customers who are “very unsatisfied” with the price they pay, 65 percent nonetheless plan to renew their policies. That compares to 98 percent who plan to renew among customers who are “completely satisfied” with their price.
Among customers who have made auto insurance claims and were “very unsatisfied” with the claims process, 67 percent will still renew. That compares to 94 percent who will renew among those “completely satisfied” with their claims.
Since we asked . . .
- Customer reviews indicated a certain resignation with auto insurance prices, even though many reviewers think they pay too much: “Wish it were cheaper but no way around it” was a common sentiment.
- Home insurance customers often commented on liking the “bundling” discount they receive for buying their home and auto insurance together.
- Health insurance customer comments indicate that consumers value ease of claims and lack of hassles.
- And life insurance customers often griped that they hadn’t heard from their agent since buying a policy.
Methodology
Insure.com surveyed more than 4,500 insurance customers between February and August 2011 for customer satisfaction ratings and reviews. The survey was not open to the general public. Consumers answered questions about their levels of satisfaction with their insurers, and each answer was assigned a point value. Points were then averaged and totaled for each company. The written customer reviews did not impact scores.
We included the top companies by market share but not all large companies are represented in the study. The companies for which we collected data were then ranked. This ranking is not inclusive of all insurers in the U.S. The top three companies in each category earn Insure.com’s “People’s Choice Award.”
More from Amy Danise here
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