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Quebecers are the most satisfied with their auto insurance company

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19 February 2019 11:30

In the field of motor insurance, these are, once again, Quebecers are the most satisfied with their insurer, reveals the annual survey of J. D. Power, which is now in its 12th year. The average score in the province is of 817 out of a possible total of 1,000.

Among the insurers to provide the best satisfactory in the eyes of consumers, The Personal has ranked first for the second year in a row, with a score of 836. SSQ Insurance follows closely with a score of 834. The third position returns to The Capital with a score of 832.

The satisfaction likely to suffer increases in premiums

Despite rising premiums auto insurance satisfaction with auto insurers at the national level varies little, reaching 781 points in 2019 against 778 in 2018. It is, however, likely to suffer, warns J. D. Power.

Indeed, the firm explained that the insurers had to increase their rates to counteract the rise in costs of claims. The premium increase to an average of $ 298 across Canada. Alberta is the province that knows the highest average increase (326 $), followed by Ontario (311 $), provinces of the Atlantic (286 $) and Quebec (213 $), where the increase is lowest.

“With a growth in premiums as dramatic, the price sensitivity becomes an issue that insurers should pay attention to, and emphasizes Tom Super, director of the insurance practice at J. D. Power. While we are seeing a stabilization of the frequency of claims, insurers continue to face problems of profitability in the automotive sector, in particular for those who were lagging on the market in terms of stock pricing. “

Transparency to improve the satisfaction

Policyholders surveyed by J. D. Power shows that more insurers are transparent and communicate the increases in premium, the more they will be satisfied. The satisfaction is greater when the insured have the opportunity to discuss options for rebates after having received a premium increase (688 points) and when they understand their invoice (722 points). For those who were able to discuss a discount and who have understood their invoice and their police, their level of satisfaction reached 741 points.

On the contrary, the consumers who do not understand their police, and who see their premium increase level of satisfaction of 619, according to the survey.

“There are several ways to help consumers realize the value of their policy. Provide easy access to information via digital channels and to contact the insured at least once per year to review their needs can make all the difference in the levels of satisfaction and loyalty “, said Mr Super.

The methodology

J. D. Power explains that satisfaction is measured according to five factors, or the supply of products, the rate, payment, and interaction outside the context of a claim and the claims.

Conducted in Alberta, the Atlantic provinces, Ontario and Quebec, the survey collected the opinion of 8 688 owners insurance canadian car.

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