According to Insurance Business, by mid-April, auto insurers had returned over $10B to help Americans through COVID-19. As the pandemic continued, the refund total increased to $18B as insurers offered relief, rate reductions, and bill extensions. However, a J.D. Power study found that customer satisfaction dropped 12% from March to June.
“One of the biggest drivers of that decline in satisfaction is a general lack of awareness among customers,” said J.D. Power Vice-President and Global Managing Director Kyle Schmitt, and Insurance Intelligence Senior Consultant Robert Lajdziak. “Insurance is something most people only think about when they’ve had an accident or when they receive a bill.”