Suncorp-owned specialist insurer Shannons has topped Roy Morgan’s annual comprehensive car insurance satisfaction survey.

It had a 92.6% satisfaction rating, ahead of RAA Insurance (90.8%), RACWA Insurance (88.4%), APIA (88%) and RACQ Insurance (85.5%).

Overall satisfaction with comprehensive car insurers fell to 82.3% from 82.9%, but Shannons (up 2.6 points), Youi (up 1.9), AAMI (up 1.9) and RACWA Insurance (up 1.6) improved their scores.

NRMA Insurance was above average at 85%, up 1.1 points on the previous year. AAMI scored 84%, up 1.9 points.

The major brands that suffered drops in customer satisfaction were GIO (down 6.3 points), RACV Insurance (down 2.7), Allianz (down 2.5) and APIA (down 2.5).

Roy Morgan Industry Communications Director Norman Morris says customer satisfaction can increase long-term profitability through acquisition and retention.

About 2.5 million comprehensive car insurance policyholders either change their provider or consider doing so each year. Price is a major factor in this, and it also affects satisfaction levels, along with bad claims experiences, poor service or better offers elsewhere, he says.

“There are also potentially reasons associated with improving satisfaction that involve a tighter focus on the needs of particular segments.

“For example, we have seen that Shannons, with a clear focus on car enthusiasts, and APIA aiming at the older market, both rank very high when it comes to customer satisfaction.”

The figures come from Roy Morgan’s Single Source survey of more than 50,000 consumers, including more than 30,000 comprehensive car insurance policyholders.