If You Can’t Beat ‘Em, Hate ‘Em
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NEW YORK — If you can’t tolerate the home and auto insurance industry or don’t understand the coverage, you have plenty of company.
Fewer than half of all Americans think favorably of home and auto insurers, according to a new industry survey. And about three in 10 of those questioned flat out can’t stand them.
The survey also found that more than eight in 10 Americans who buy homeowners or auto insurance don’t fully comprehend the terms of their policies.
Insurers pointed out that they are less despised now than in the past. The percentage of Americans who think favorably about the companies rose to 45% this year. That’s a four-point increase from last year and the highest favorable rating in a decade.
The study also found that the more educated and wealthy Americans are, the more they dislike home and auto insurers. The only industry to be held in lower esteem: consumer finance.
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