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Americans Are Happy With Their Auto Insurance. Well, Mostly

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Chances are pretty good that you're happy with your auto insurance -- at least that's what a new study from J.D. Power indicates. Power surveyed 16,100 individuals in January and February of this year and found that just 25% of them had shopped for new car insurance within the past 12 months.

Why is everyone so content? It's partially due to massive marketing campaigns, aimed at keeping customers in the fold. (Agencies spent $5.7 billion on advertising in 2011 alone.) 

However, the strong customer-retention rates are also due to the shrinking sums of cash that folks save by changing their insurers. In 2010, customers saved $412 by switching, but in 2011, that figure fell to $359.

But insurance agents shouldn't start doing the happy dance just yet. It's true that fewer people are shopping for a new insurer, but those who do are pretty likely to switch. In fact, of the 25% of J.D. Power's respondents who said they'd shopped for new auto insurance within the past 12 months, a whopping 43% made the switch. That's the highest figure in four years, and it's up 3% from 2011.

The winners, the losers

In the course of the survey, J.D. Power also asked respondents to rank their insurers. And when all the dust had settled, USAA came out on top with a score of 878 out of a possible 1,000 points. But since USAA is restricted (it's only available to U.S. military personnel and their families), Power gave the top spot on its list to The Hartford. 

Here's Power's complete list, with scores:

The Hartford -- 857
Liberty Mutual -- 850
American Family -- 845
Auto Club Group -- 842
Nationwide -- 841
Amica Mutual -- 839
State Farm -- 839
Erie Insurance -- 836
MetLife -- 834
Auto-Owners Insurance -- 832
GEICO -- 832
Ameriprise -- 830
Auto Club Group of So. California -- 828
Industry Average -- 828
Safeco -- 825
21st Century -- 824
Farmers -- 821
Allied -- 820
Esurance -- 819
Travelers -- 819
Allstate -- 817
AAA NCNU Insurance Exchange -- 816
Progressive -- 815
GMAC -- 808
Mercury -- 808

Are you happy with your auto insurance provider? Have you shopped for new coverage? And most importantly, did you make the switch? Drop us a line, or leave a note in the comments below.

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Comments (2)
  1. My personal experience with Hartford Ins. is TERRIBLE. Had one claim and it was a battle, just to get a call return. They spent more time in how NOT TO Pay the claim and they did in adjusting the claim.
    CANCELED them soon afterwards.
    Would not recommended Hartford Ins to my worse enemy.
    Went to USAA. They are not just for the Military... lots of civilians can buy USAA, too.
     
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  2. I can't understand why Geico is low on the list. I have been insured with them for twelve years, only leaving for six months to go with Allstate(Horrible Mistake). I wouldn't insure my home with them because they quoted me a policy much lower in coverage and more than twice the annual premium, but they have been great for Auto Insurance.
     
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