Report: Consumers Generally Satisfied with Their Homeowners Insurance

A leading consumer organization is reporting that people are generally satisfied with their homeowners insurance.

According to Consumer Reports, 73 percent of people in a recent survey indicated that they are highly satisfied with their current carrier. Still, the number is down somewhat from 2003, when 77 percent expressed such sentiments.

The survey also found that 84 percent are satisfied with the way recent claims were settled, while 11 percent said they had received too little for a claim and only 5 percent said a claim had been rejected. The report noted that about 20 percent of respondents had been with their insurer for under four years, and that of those who had switched, about half reported finding better prices.

Overall, consumers will find a variety of options when they shop around for policies, as well as a variety of ways to hold their costs down. Such strategies can include installing safety features like smoke and burglar alarms and increasing the deductibles.

Homeowners insurance is more important than ever when considering the higher number of extreme weather incidents in recent years, as well as the rising cost of home repairs and the economy in general.