Price is the leading reason -- cited by 41% of shoppers -- that insurance shoppers consider an insurer but do not obtain a quote from that insurer. In addition, 76% of shoppers who obtained a quote from an insurer but did not purchase a policy from that insurer cite price as a reason. However, price accounts for only 28% of overall customer satisfaction with the purchase experience -- less important than both policy offerings (29%) and distribution channel (43%).
Erie Insurance, with a score of 886 on a 1,000-point scale, ranks highest among auto insurance companies in satisfying new buyers with the purchase experience for a third consecutive year. Erie Insurance performs particularly well across all three factors driving satisfaction: distribution channel; price; and policy offerings. The Hartford ranks second overall with a score of 868, followed closely by Auto-Owners Insurance (867). --Tanya Irwin