What Do Home Insurance Ratings Mean?
What do home insurance ratings mean? The term ratings can imply anything in business, from measurable success to personal opinion by the mass public. When used in context of home insurance, or homeowners insurance, these ratings refer to how favorably a company has been reviewed by an authoritative source, such as the homeowners industry and independent group or a polled group of customers. For example, J.D. Power and Associates is a well respected firm that conducts research on these homeowner policy ratings. They attempt to measure the satisfaction of current homeowners who have such a policy. J.D. Power specifically measures customer satisfaction in five major areas: policy offerings (the policies you can find on a homeowners quote search), the price of the yearly or semi-yearly premium, billing and payment issues, interaction from the company to the public and the way in which claims are handled. In 2008, the firm reported that overall satisfaction with these type of providers in 2
