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You are here: Home / News / Premium Increases Lead to Erosion in Auto Insurance Price Satisfaction

Premium Increases Lead to Erosion in Auto Insurance Price Satisfaction

May 24, 2022 By CollisionWeek Editor

State Farm ranks highest among large insurers, The Hartford ranks highest among midsize insurers.

According to the J.D. Power 2022 U.S. Insurance Shopping Study, auto insurance customer satisfaction with price has plummeted, driving a surge in new-policy shopping activity while also dragging on the purchase experience index.

According to the report, auto insurers are caught between a rock and a hard place. On one side: runaway demand in used vehicles that drove prices up an average of 41% in 2021, pushing vehicle replacement and repair costs into uncharted territory. On the other: frustrated customers, disillusioned by the rate increases insurers

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Filed Under: News Tagged With: Auto Insurance, Customer Satisfaction, J.D. Power

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