Homeowners Rejoice! J.D. Power Reports Good News For Property Claims!

The deeper we go into storm season in 2017, the more Metts Legal is becoming concerned with homeowners, their claims and their needs.  The Metts Legal Blog aims to bringing you tips and brief answers.  As specialists in personal injury and property claims, we often answer questions concerning personal injury topics or property damage claim settlements.  However, we are also committed to coverage of news and national trends on the insurance and legal scene.

Recently we discovered some amazing news from the Claims Journal.  Some of these recently reported facts might greatly benefit anxious homeowners, especially during our spring and summer storm season.

Homeowners Filing Property Insurance Claims:  An Encouraging Satisfaction Report For You–and From You!

What caught our researching eye was that J.D. Power recently published the prestigious J.D. Power 2017 U.S. Property Claims Satisfaction Study. 

1.      The first fantastic fact they reported for homeowners dealt with property damage claims.  It stated, “Overall customer satisfaction among homeowners filing property insurance claims has reached a new all-time high…” 

This was a little surprising to us, considering that the nation is in the midst of a crescendo of catastrophic events.  These are mostly weather-related.  Notably, it would usually be normal for companies to merit low customer satisfaction scores during such a stormy season.  This would be especially true in regards to the property insurance claims.  Would you be surprised that this year marks the highest number of catastrophic events in the last ten years?

Homeowner’s Property Claim Experiences:  What are the Claim Criteria?

How Did J.D. Powers measure the performance of multiple insurance companies when homeowners made property damage claims?  Let’s back-track this revelation.  We will check out the Powers Report criteria.  In the J.D. Powers Report, the evaluators studied five factors of the property damage.  They include claim experience among homeowners who filed damage claims.  They ranked these five top concerns from most to least critical to the homeowner.

Homeowners Report on Satisfaction with Settlements.

Homeowners: Floods,  Fires and Storms might Happen! Are You Covered?

A.     Settlement

B.     First Notice of Loss,

C.     Estimation Process,

D.     Service Interaction,

E.      Repair Process…

They restrained their study to only those homeowners who actually filed damage claims.  The calculations were figured on a 1,000 point scale.  This is the same as previous reports.

Homeowners Rejoice!  2017 Marks All-Time High for Customer Satisfaction!

With a score of 859, the Customer Satisfaction Index hit an all-time High in 2017.  Why are we interested?  Metts Legal was fascinated with the results of the study, because they were related to a high level of settlement.  In fact the settlement factor listed above included:

1.      Fairness of the settlement amount,

2.      Positive estimation process,

3.      Very good service interaction.

Naming The Names, Giving the Homeowners Satisfaction and Getting the Trophies—May We Have The Envelope, Please!

You have probably seen the J.D. Powers Logo.  It is an artist rendering of the coveted J.D. Powers Trophy.  Like the academy awards, J.D. Powers doesn’t hesitate to name names of the best companies for meeting its criteria.  So, you might want to know which companies gave the best settlements.  Which companies got the Highest Satisfaction Scores from claimants.  Which companies were so good at servicing property claims that they attained the J.D. Powers Trophies?  You can find this information packed in the graphs and charts at this informative online resource.  Are you shopping for property insurance?  Do you want to see how your company ranks with others in property settlement?

Greg Hoeg, vice president of U.S. insurance operations at J.D. Power, stated, “Following the significant declines in customer satisfaction found in the 2016 study, property and casualty insurers have redoubled their efforts to improve the settlement process and fine-tune their customer interactions,”  These are “efforts that have been clearly recognized and appreciated by  homeowners who experienced significant losses this past year…”

Nonetheless, just as Metts Legal would say, he added, “Still, despite the overall improvement, problem areas are evident, most notably in water-related and other complex claims that take a long time to settle and that cause significant lifestyle disruption…:

Homeowners’ Heroes in Complex Cases:  Metts Legal and Others Like Them!

It is within these complex claims that you often need the legal assistance of an attorney.  Sometimes it is only with legal representation that you are empowered to gain top results in your property claim settlements.

Hoeg added, “Insurers that manage to get the settlement process and customer interaction equation right in these types of disruptive and often catastrophic scenarios are those that raise the bar for the industry.”

Smooth Running Gears: Settlement, Estimate and Good Professional courtesy make a great insurance company.

Property Damage Settlement Claims and Insurance Gears must interact smoothly to satisfy homewners, settle property dammages, and gain a J.D. Power award.

Now, let’s get statistically local:  Interesting results in the report pinned the highest scores on regions with the fewest storms.  As you might imagine, the storm-ridden states of Texas, Florida, and Massachusetts gained flat scores or rated worse than in previous years.  Likewise water damage cases fared much worse in settlement situations.

Homeowners Rejoice! Property Damage Claimants Are Attaining  Satisfaction–With and Without Legal Assistance

We wanted you, our readers, to know about this national study for a few  very important reasons:

1.      As homeowners, you should feel encouraged to feel free to make an insurance claim, whether whole or partial.  If you are hit by a disaster that damages your property and alters your lifestyle, don’t be shy about asking for a just settlement.

2.      Don’t forget, that even if you have the best insurance coverage, you might need legal representation to attain a just settlement in your particular property damage situation.

3.      Don’t be shy about filing.  Be sure your claim is filed properly.

4.      Be certain you have asked for the appropriate amount of money to repair and restore your life-style from the emergency condition.

5.      When a case is complex, or insurance processing is slow, remember Derek Metts and his staff are  here for you.  And they bring Florida law as well as national law to your side.

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