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You are here: Home / News / J.D. Power Reports Industry-Wide Auto Insurance Rate Increases Force New Approaches to Customer Retention

J.D. Power Reports Industry-Wide Auto Insurance Rate Increases Force New Approaches to Customer Retention

June 13, 2022 By CollisionWeek Editor

Usage-based auto insurance takes center stage as satisfaction flatlines.

A record high number of serious collisions, skyrocketing used-vehicle prices and surging repair costs have created an unenviable scenario for auto insurers: raise rates or go out of business. It should come as little surprise that the J.D. Power 2022 U.S. Auto Insurance Study, released today, finds that customer satisfaction with the price of auto insurance has declined sharply, but notable industry efforts to improve customer engagement has kept overall customer satisfaction at a level similar to a year ago.

“The current situation is a tough one for auto insurers, but

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

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