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State Farm At No. 3
(The Pantagraph (Bloomington, IL) (KRT) Via Thomson Dialog NewsEdge) Aug. 29--BLOOMINGTON -- State Farm Insurance Cos. remain high atop the list of the nation's most satisfactory auto insurers, according to a report released Tuesday by J.D. Power & Associates.
The Bloomington-based insurer dropped one spot to No. 3 of 24 on the list of top insurers based on customer satisfaction. J.D. Power's senior insurance analyst called the drop "statistically insignificant."
In addition, State Farm trails two smaller insurers -- Amica Mutual Insurance Company and Erie Insurance Group respectively.
"Trying to meet the demands of a much larger, more diverse (customer base) is much more challenging," said Jeremy Bowler, senior director of insurance practice for J.D. Power.
Bowler noted that State Farm is one of few companies that customers choose because of reputation. Most insurance customers choose a provider based on price, he said.
"State Farm has a reputation -- dare I say it -- of being more generous in the claims handling process," Bowler said.
Among State Farm's biggest competitors, Geico finished fourth, and Northbrook-based Allstate Corp. fell two spots to No. 9 on the list.
Among other commonly known names, MetLife ranked 11th, Safeco 12th, Liberty Mutual 14th and Progressive 17th.
Rankings are based on surveys of 14,066 policyholders by the well-respected global marketing information services firm.
"We're certainly again pleased to be ranked among J.D. Power's top three. We're also proud that we're the only large insurer that serves the entire U.S. to consistently do that," said State Farm spokesman Dick Luedke.
Copyright (c) 2006, The Pantagraph, Bloomington, Ill.
Distributed by McClatchy-Tribune Business News.
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