MetLife Auto & Home Reduces Auto and Homeowner Rates in Utah.WARWICK, R.I.--(BUSINESS WIRE)--Dec. 1, 1999-- For the second consecutive year, MetLife Auto & Home has reduced its rates in Utah for standard auto and homeowners products across all territories. With the latest 2.8 percent rate reduction in standard auto insurance premiums, the company has reduced its auto rates by an average of 6.8 percent since 1998. Home insurance rates, which were reduced by 2.1 percent this year, have been reduced by an average of 3.3 percent since 1998. "The latest rate reductions reflect the favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. loss experience MetLife Auto & Home is having in Utah, and we want to pass the savings onto our customers," said Dennis Patchett, Market Strategist Noun 1. market strategist - someone skilled in planning marketing campaigns strategian, strategist - an expert in strategy (especially in warfare) for the State of Utah. Utah residents may be eligible for even greater savings for safety and security device discounts; if they are long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. customers with no claims; or if they have an individual life, annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. , long term care or disability policy from MetLife or one of its affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. . In addition, MetLife Auto & Home's popular Top Driver(R) improvement course rewards safety-conscious drivers with savings of up to 10 percent off their bodily injury liability, property damage liability, personal injury protection, and collision premiums upon successful completion of the program. The course discount is available to drivers licensed two or more years who pass the Top Driver video course. "We believe that offering premium discounts to those who successfully complete Top Driver's course will help make our roadways safer for all," said MetLife Auto & Home Vice-President John Rutecki. In April of this year, the company chose Utah as the first state in the nation (following a pilot program) to introduce its "Teens on the Road to Safety" program. Through the program, Utah teens can earn cash each year they have no accidents, claims, or violations and a $100 U.S. Savings Bond Savings bond A government bond issued in face value denominations from $50 to $10,000, with local and state tax-free interest and semiannually adjusted interest rates. savings bond A nonmarketable security issued by the U.S. for driving 20 times with a parent in the passenger seat. Teens on the Road to Safety encourages Utah teens to drive safely and aims to reduce the tragic trend of injuries and fatalities among the state's teen population. In Utah, teens comprise approximately 11 percent of licensed drivers yet they account for an astounding a·stound tr.v. a·stound·ed, a·stound·ing, a·stounds To astonish and bewilder. See Synonyms at surprise. [From Middle English astoned, past participle of astonen, 25 percent of auto accidents. In addition to providing competitive prices and superior service, MetLife Auto & Home offers free educational materials with great tips on auto and home safety, how to save money on your insurance and preparing for some of life's major events. Some of the topics available include: what you need to know about anti-lock brakes; kids and airbags; teaching your teen to drive; and keeping your home safe. The free brochures are available by calling 1-800-MetLife. MetLife Auto & Home has differentiated itself from its competition by improving its physical damage (collision and comprehensive) coverage to include benefits not typically found in most other insurance policies. A Special Loss Settlement endorsement provides broader coverage for total losses by providing protection if an insured has a total loss with a brand new car within the first year or 15,000 miles of use. "Typically, a new vehicle depreciates in value by about 10-15 percent the second it's driven off the lot," said Mike Buffi buf·fi n. A plural of buffo. , MetLife Auto & Home fleet manager. "With this additional coverage from MetLife Auto & Home, we replace your vehicle with a new one without taking a deduction deduction, in logic, form of inference such that the conclusion must be true if the premises are true. For example, if we know that all men have two legs and that John is a man, it is then logical to deduce that John has two legs. for depreciation," he added. Other enhancements include: Replacement Cost for Special Parts, which provides protection for items like tires, batteries, steering The process whereby builders, brokers, and rental property managers induce purchasers or lessees of real property to buy land or rent premises in neighborhoods composed of persons of the same race. and electrical components, and brake parts that are damaged and need to be replaced (without deducting for depreciation). Lastly, the Loss Settlement endorsement provides Full Coverage for Rental Car Damage, covering for the "gap of insurance" that occurs when a rental car is damaged and the loss damage waiver Damage Waiver, or as it is normally referred to, collision damage waiver (CDW) is an optional collision coverage available while renting a vehicle. CDW can be expensive, increasing the basic rental cost by up to 20%. does not provide full coverage. "We have enhanced the physical damage coverage for our customers (who have purchased the collision and comprehensive coverage) because we do not want our customers to be surprised by hidden costs when they submit a claim. By enhancing our physical damage coverage, we are protecting them against unexpected out-of-pocket expenses out-of-pocket expenses n. moneys paid directly for necessary items by a contractor, trustee, executor, administrator or any person responsible to cover expenses not detailed by agreement. ," said Patchett. MetLife Auto & Home insures about 35,000 autos and homes in Utah. A subsidiary of MetLife, the company is the nation's 11th largest personal line property and casualty company(a), and seventh largest in the state* with over 2.4 million policies in force. It provides insurance products for the auto, home, apartment, condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. , boat, vacation and rental property, recreational vehicle, as well as personal excess liability. For more information, contact your representative or call 1-800-MetLife. The company's website is (www.metlife.com). (a) Ranked by AmBest 1998 net written premium. |
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