How does J.D. Powers and Associates go about ranking homeowners insurance companies?
J.D. Powers provides rankings of various consumer products and services. They are independent and impartial. Because they are not affiliated with the companies they evaluate, you can trust that they have your best interests in mind.
As such, they go about ranking homeowners insurance companies on five criteria.
First, they look at how easy it is to contact the company. Does the company have a toll free number? How long is the wait time to get through to someone? Do they have people staffing the lines 24 hours a day 7 days a week? Is there an email contact? How long does it take for the company to email you back? Is there a live chat option? These all go into the ease of contacting the company.
Next, they look at the policy offerings. The wider the range of policies the better. The idea is that you can pick out the coverage you need if you have choices.
Then there is billing and payment. This score is based on how customers rate the timeliness, accuracy, and clarity of their billing statements and the payment process of their current homeowners insurance provider.
Next, there is pricing. This score is based on how customers rate their current home owners insurance provider based on the price of the policy given the level of coverage.
Finally, there is overall satisfaction with the policy. This score is based on how customers rate each and every aspect of their service experience with their current homeowners insurance provider. It is a kind of summary of the other four criteria.
And that is how JD Powers and Associates goes about ranking homeowners insurance companies.