WESTLAKE VILLAGE, Calif., July 18, 2013 /PRNewswire/ -- Satisfaction with the auto claims experience held steady in the second quarter of 2013, compared with the first quarter. Small improvements in satisfaction with repairable claims were offset by significant declines in satisfaction among total loss-claimants, according to the J.D. Power 2013 Auto Claims Satisfaction Study SM—Wave 3 released today.
The declines may be due to the impact of more claims filed in the Mid-Atlantic region after damages from Superstorm Sandy at the end of October 2012 and a powerful nor'easter storm in February 2013.
Overall claimant satisfaction has edged up by 2 points to 852 on a 1,000-point scale in Wave 3, compared with 850 in Wave 2 of the study[January – March 2013]. On a positive note, out-of-pocket expenses for repairable claims, such as the deductible and vehicle rental, have dropped to an average of $461 vs. $499 in Wave 2. However, out-of pocket expenses for total loss have increased slightly to an average of $600 in Wave 3 from $592 in Wave 2."While overall satisfaction is up 2 points overall, and satisfaction in four of the six factors is also up from Wave 2, satisfaction with the appraisal process among total loss claimants declines by 25 points," said Jeremy Bowler, senior director of the insurance practice at J.D. Power. "For total loss vehicles, satisfaction with the claims process has declined by a significant 57 points in the Mid-Atlantic region, which was devastated by major storm events. In that region, satisfaction with the appraisal process declines by 71 points, and satisfaction with the settlement process declines by 76 points," said Bowler.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts